BTCEUR trade ideas
RETRACEMENT FIRST...Before breaking out of this structure, there is a high probability of re-testing it's lower levels. Few days of support has this evening been broken, now we are witnessing confirmation. Target in the green box.
Looking to the past to guess the futureLooking to the past we have repeatet stronger downtrends for 2 to 3 weeks (red lines). The special situation in March 2020 was causing a dip twice as deep. Continuing this pattern I come to the conclusion that we are at the next itermediate bottom zone beginning June (first half of the second week if I should bet now). There is a small chance that we might go deeper the weeks after.
Just another guess, nobody should listen to me.
Bearish on 1 W chartDo you know what this chart is saying on 1W period? It’s saying watch out, we might have reached a strong resistance level at around 9200 euro, for third week unable to break it. We reached the upper bank and we might have started a down trend. Keep an eye and secure any open position.
My first: a bit down before we go up againThis is my first analysis. Please excuse me when I'm using wrong terms. I have observed the whole market quite some time and since the deep dip in March I'm investing some play money.
Currently it looks like that we are testing either a bottom line which formed during the last days before we go up again (green drawing). Or if we break that its rather one level down, the bottom of the last month (red drawing).
Only my two cents which can be 100% wrong. Nobody should listen to me.
STARTING RANGEThe last two movements of Bitcoin suppose the start of a range. Apparently we can not know yet if it is an accumulation or distribution range. We should wait for the spring to confirm our long positions.
In addition, we have to note the breakdown of the uptrend of the RSI. We can expect a slight breakout of the uptrend channel in reaction to the overbought market. The overbought of the bitcoin before the event of the halving as well as its great bullish rally, means that many traders are making profit in these prices. The price will settle for a time at these price levels, marking a clear range. We must wait calmly for the purchase opportunity to be given.
neutral on btcusdin this chart i want to show how btc breaks resistance and then circulates around it and then it may drop... lets see
high potential PRZPrice has reached to a high potential PRZ which counts as a resistance in current uptrend.
Formation of multiple bearish patterns as well as reaching to a PRZ, a price fall is accepted. Considering the chart's behavior in the past, I would suggest the next target would be 0.618 ab @ 7324.
I would be happy to have your comments.
The Bearish Bat Pattern is completed.Das bärische Fledermaus Muster ist abgeschlossen. Ich würde mich sehr über Ihre Kommentare freuen.
BTCHello
In latest BTC chart we can see that each indication of our Strategy No.2 (either long or short) would make a profit. No cherry picking here, but just worth noting that with proposed RR rules we can make a decent equity curve on our account.
Stay humble and stay safe.
Regards
BTC BULLISH SOON!Btc is into a bullish channel.
Wait for the RSI break to open long positions on the purple zone.
Target: 11000 euros/ 10300 dollars
Are we currently in a huge Bear Flag?I'm a rookie so correct me if i'm wrong, butit is looking like we're in a very big bear flag(30min chart)! we might reach for a top bounce, also is there a such thing as a bear flag fakeout(saying if we were to break out from the top)?
Also its looks like a red storm is brewing on my heat map indicator!
Let me know what you think!
Bearish Reciprocal AB=CDBearish Reciprocal AB=CD is going to be completed after correction of the wave. I would be more than happy to have your comments on my analysis.
