Almost every altcoin is building bearish chart pattern ! Because BTC ties up too much money !
From the figure above, we can clearly see that a head shoulder top pattern has been formed. It's time to short AXS ! To be honestly, I don't like any coin like AXS pumping too fast to catch the bullish trend !
BTC have brokeout the daily trend line, I have enter a long position, and my target will be $47500. Not Financial Advice :)
We will stand on the countless times at the crossroads of life , the countless times face different choices , take the left , right away. BTC is standing at the crossroads, again.
From the figure above we can see that BTC got strong daily support at $40500, and it is on the way to break up decending trend line. If BTC breakdown $40500 with huge volume, then $38500, $37500 even $36500 will be our target. If BTC breakup the decending trend line with huge volume, then $44500, $47500, $50000 will be the resistances on the way of BTC getting...
I don't like to short BTC, but the chart tells me the last bullish trend is over. I hope I was wrong. Short Strategy: Target 1: 39500 Target 2: 38500 Target 3: 37500
BTC brokedown several support level in the past 24 hours. Actually the traditional market also turn into bearish mode under the big shadows of Covid-19 and USA debts. It's really hard to back to 50K for BTC. MACD has formed a daily death cross half a month. SMA 5 and SMA 50 has also formed a daily death cross. Currently there is four resistance level...
I will pay more attention to USA financial news from today because I missed a big news that is really having huge impact on crypto market : www.cnbc.com Trading Strategy : Short Entry Point : 48900 Take Profit : 48000 Stop Loss : 49200 Not Financial Advice.
Entry Point : 51000 Take Profit 1 : 51400 Take Profit 2 : 51900 Stop Loss : 50450 Not Financial Advice.
Entry Point: 52170 Take Profit: 52700 Stop Loss: 51900 Not Financial Advice.
Trend base trading strategy is a very profitable strategy on Bitcoin. So how to catch big trend of BTC ? Just simply using Double SMA or EMA and check golden/death crosses to buy/sell. As you can see in the figure above, daily 5 SMA works nicely with daily 50 SMA. It's better to hold than buy and sell frequently in a strong bullish market. Life is not just...
Like I said, Bears are wood, coal, oil, petrol, and gas. BTC has brokeout 0.618 daily strong resistance ! And what's next ? Using fixed range volume profile tool, we can see that the next strong resistance will be $56000, and there is a gap between $52000 and $56000. I think BTC will hit $56000 in the next few weeks, pessimistically, in the next few month...
BTC is breaking fibonacci resistance. Watch out fake breaks. Not Financial Advice :)
BTC has brokedown upward trend line, just acted like I said, it's risky to long BTC at around $50200. Watch out fake breaks. Not Financial Advice :)
BNB is breaking 0.618 resistance, watch out fake breaks.
BTC may breakdown the upward trend line with lower high and decreasing volume in the past 3 hours. Now it's risky to enter a long position.
FTT will break from triangle consolidation zone soon. I will long FTT after it breakout previous top.
Definitely Triangle Pattern is a useful pattern to track price action.