ETP BTC | Downtrend Continuation | Buy-Zone
Updated
This is not a signal to buy. The buy-zone is my personal target. :)
Downtrend Continuation
Head and Shoulder - bearish
1h 50MA (cyan blue) moving downward indicating downtrend
MACD indicates more selling power than buying
Expect to touch 45k in the short term
Uptrend Indications
H&S is bearish.. Reversal may take time
Break through resistance line / 1hr 50MA
1h 200MA (purple) continues upwards
50MA and 200MA converging and 50MA bounce off
Buy Zone
50-60% retracement
200MA support line
I am using moving averages to predict the price movement (red arrows)
Keep in mind the movements of BTC
Huge spike in price a few days ago
Mid/long target - 70k
I waited for a pullback and buy my first position at 45.8k
Will add more if it drops to 43.8k.
Once it reaches the buy zone, risk to reward profile is essentially 50/50. Set stop losses!
Do your own research! :D
Good luck!
Downtrend Continuation
Head and Shoulder - bearish
1h 50MA (cyan blue) moving downward indicating downtrend
MACD indicates more selling power than buying
Expect to touch 45k in the short term
Uptrend Indications
H&S is bearish.. Reversal may take time
Break through resistance line / 1hr 50MA
1h 200MA (purple) continues upwards
50MA and 200MA converging and 50MA bounce off
Buy Zone
50-60% retracement
200MA support line
I am using moving averages to predict the price movement (red arrows)
Keep in mind the movements of BTC
Huge spike in price a few days ago
Mid/long target - 70k
I waited for a pullback and buy my first position at 45.8k
Will add more if it drops to 43.8k.
Once it reaches the buy zone, risk to reward profile is essentially 50/50. Set stop losses!
Do your own research! :D
Good luck!
Note
It is trying to break through 70k... if it does.. expect it to rise to at least 80k! :DNote
oh wow that massive sell pushed it from 72k to 68k. It's still trying to stay above 70k.. just be wary folks!Note
Yay!! It broke through 70k and touched 90k. That is wonderful. :)Trade active
Check out my other chart made for ETP. With the help of Kobekobe below. =) 
Trade active
Check out my recent updated chart on ETP. With the help of Kobekobe in the comments. :)
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