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Bitcoin forms a triangle - Next trade!Hi traders. In the meantime we can see that BTC is forming a larger triangle, in which we can expect shorter ABC swings. What is happening? As expected BTC bounced from our buy level. A potential inverse head & shoulders pattern is unfolding. If this pattern confirms, we can expect price to re-test the upper trend line of the triangle, because it is also the target of the inverse H&S, as well as the support line of the previous H&S (blue line). How to trade it? If you missed yesterday's entry, you may get a second chance to trade the swing - in case BTC is in a Wave C that extends into one of the two areas that I marked with a green box. These levels are the 100% and 162% extensions of Wave A. Wave C may come down in a 1-5 motive wave on a small timeframe - don't let price shake you out, stick to the precise levels. What if not? BTC may go up from here straight into the target area, without retracing deeper. The entire idea is invalidated if BTC goes lower and ultimately falls out of the triangle. Happy trading!
BITSTAMP:BTCUSDLong
by UnknownUnicorn12250317
BTC - not the best news we can findAccording to the chart we can see that BTC not trading by range price between 45000 - 55000 Yes it's very big price range but, the tunnel that you can see by the chart very scary 1 we may see rise price till 55000 from now , and it's the good news but then we can easy get to step 2 2 down trend - target 40000 the most scary and not my best prediction that BTC may go till area of 32000-34000 and that point will give us 78% of retracements by fibo It's scary and everything may be changed by big investors like Elon and Grace scale but now it looks like the most real scenario Short term - Buy and hold till 55000 Long term - Correction
BITFINEX:BTCUSD
by HodlCrew
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