BTCEUR trade ideas
Massive breakout, new fib retracement drawnedHello Wonderful person!
We saw a very good break out and turned the resistant line in to proven support line, which is awesome!
There are a couple of concerns with some indicators that momentum is fading off, but lets see if there will be more strength added this week. (dont forget to check the RSI).
Interesting pointers are the new fib retracement that almost perfectly matches the new support line, and the current trendline is holding.
It is not unheard of that we might see a correction down to the next trendline, around 12500 Euro.
BTC Near Term Looks like momentum is slowing down based on lower highs on RSI (4 hours) and backtesting previous patterns on the 4h chart.
I'd expect choppy action to continue for while (further relief for ALTS), followed by a sharp 20% selloff as soon as price converges with the 200 EMA.
2 levels I'm looking at are €11500 and €10600.
(Not financial advice. Just some ideas. :)
Break trendline or break resistant line?Hello wonderful person!
Now it is breakout point one way or another.
Either the current trendline will hold and the resistant line is broken.
OR current trendline is broken and resistant line is holding, which means next price is 12200 Euro; but might bounce at 12950 Euro (depending on the strength)
My indicators point more towards a correction, and we will bounce at 12960; and might continue to the next trend line at 12200 euro.
Have to wait and see what the indicators tell at that time.
What is yours?
As always, stay safe and sane,
happy trading all!
Current Trendline closing in the tough resistant lineHello wonderful person!
I am trying out a new way of delivering messages in the articles by having more text and symbols in the chart itself rather than writing them in the article.
Hope it will be a more efficient way, but I am open for suggestion in the comment.
Small conclusion about a key factor I am watching now, is the wedge between resistant line and the current trendline.
One way or another, we will have a breakout from this in the next couple days (within this week).
As always, please stay safe and sane in these times and happy trading!
BTCEUR - break-out from bullish triangle 15.4k as targetWe are currently retesting the top side of the triangle at 13350€. Waiting for a confirmation above 13400€ with sufficient volume to open a LONG position. This break-out could lead to a continuation move to 14400€. If we break to the downside, we will have to re-evaluate the situation.
Good luck! And of course, this is not a trading advice.
correction to 12000 euro?Hello wonderful person!
Incredible rally in the stock market due to vaccine news, and this might hold up to end of december.
Bitcoin reacted as with gold, it took a hit.
Based on the chart, there are some spinning top and a doji forming, which could form a correction.
If that happens, we could look at a price target at around 12000 euro, and if it is still a bull run; this will hold.
If that 12000 breaks, we are looking at a further decline to possible 11000 euro.
Reputation points needed to participate in chat
Hello everyone,
I joined tradingview a few days ago and just want to get some points so I can join live chat as this are very exciting times for crypto and BTC especially and as a complete noob I have a lot of questions which I would like to ask in chat on the go, to help me better understand price movements. Wanted to attach an image of my current "analysis" or rather practice of predicting BTC-EUR direction, but it wouldn't let me... So maybe next post.
Thanks and have a good one!
Edit: Just saw that it does attach my chart also, so yeah. #first_post_problems