janor123

Waves Within Waves? Short in the near term Long in the long term

Pembelian
janor123 Diupdate   
BITSTAMP:BTCUSD   Bitcoin
Over the past few months, I've generally been looking at the log chart on BTC/USD.

Today, I decided to take a look at it with the log scale turned off. Here's what I came up with:

  • In the near term, BTC could see a double bottom in the ~8000 region.
  • After that, it could make a push to break out of the symmetrical triangle and make a nice run.
  • It may then see a correction to establish previous resistance levels as support, before launching off for a big run to hit the symmetrical triangle target.
  • This target also coincides with the 1.618 trend based fib extension shown.

Let's see how it plays out.

Happy trading and thoughts appreciated as always!
Komentar:
Price reached the ~8000 region per bullet #1 in my original post. We will now wait and see if it continues to the downside or reverses.

Expecting a reversal within the next 12-24 hours.
Pernyataan Penyangkalan

Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.