Bitcoin short - must see possible scenarios!
Hello traders,
Here you see the 8 hours chart of Bitcoin . With a few possible scenarios.
We have already seen 2 main shoulder formations in the past that failed. When an H-S pattern fails you very often get an aggressive counter-move. See the red arrows after the necklines were not broken after all.
Currently we are develloping the formation of a possible head shoulder pattern, specifically the right shoulder. Above 64500 this pattern turns invalid but we can still get a double top . Only after a breakout with volume above the old top and a RE-TEST are we almost certain of much higher price targets.
Should the right shoulder now develop further we see a target of 45000 usd there. This is purely a hypothesis. Possibly we will get a double bottom at 47000! All things need to be followed closely. A roadmap that you desperately need because Bitcoin is driving everything with Bitcoin dominance.
It is very important now to follow the neckline closely. If we move away from that, we will get a price explosion upwards and 100,000 - to 300,000 usd or more for this year will be in the picture. It is important to trade what you see and not what you think! Hence these possible scenarios.
See also my other bitcoin chart with important targets and resistances which is the roadmap voor the shorter term.
Dear traders, this is my own personal view of Bitcoin and not an investment advice. Always use your money management and a good stop loss before placing any trade! This way you stay in this game!
Have fun and trade safely!
If you appreciate my posts, it would be nice to follow and like me! It motivates me to continue with these analyses!
Here you see the 8 hours chart of Bitcoin . With a few possible scenarios.
We have already seen 2 main shoulder formations in the past that failed. When an H-S pattern fails you very often get an aggressive counter-move. See the red arrows after the necklines were not broken after all.
Currently we are develloping the formation of a possible head shoulder pattern, specifically the right shoulder. Above 64500 this pattern turns invalid but we can still get a double top . Only after a breakout with volume above the old top and a RE-TEST are we almost certain of much higher price targets.
Should the right shoulder now develop further we see a target of 45000 usd there. This is purely a hypothesis. Possibly we will get a double bottom at 47000! All things need to be followed closely. A roadmap that you desperately need because Bitcoin is driving everything with Bitcoin dominance.
It is very important now to follow the neckline closely. If we move away from that, we will get a price explosion upwards and 100,000 - to 300,000 usd or more for this year will be in the picture. It is important to trade what you see and not what you think! Hence these possible scenarios.
See also my other bitcoin chart with important targets and resistances which is the roadmap voor the shorter term.
Dear traders, this is my own personal view of Bitcoin and not an investment advice. Always use your money management and a good stop loss before placing any trade! This way you stay in this game!
Have fun and trade safely!
If you appreciate my posts, it would be nice to follow and like me! It motivates me to continue with these analyses!
Kommentera:
Please click on this chart for shorter term support and resistance levels, A true roadmap for Bitcoin.
Kommentera:
Bitcoin makes a negative divergence on the RSI 4 hour chart!
Handel aktiv:
Traders place your stops ar or just above 60200 if your are short BTC. If you are not short but have a buy stop wait for confirmation. In my opinion the only way to trade BTC more safe is above the ATH with good volume and a re-test of the ATH level. Then it is ready to skyrocket again.
It is possible that we have now accumulation in Bitcoin if you look at volume. BTC is captured also between the levels 52000 and 60000. We have different scenario's. some inverted H-S formations and also a big H-S fromation building now the right shoulder.
See my other analysis of Bitcoin!
Happy trading!
It is possible that we have now accumulation in Bitcoin if you look at volume. BTC is captured also between the levels 52000 and 60000. We have different scenario's. some inverted H-S formations and also a big H-S fromation building now the right shoulder.
See my other analysis of Bitcoin!
Happy trading!
Kommentera:
Target to the neckline reached. Now we need to see what will happen. We approach the neckline again with the forming of this continuation of a bearish bearflag.
Then we need to see if the neckline will hold
Then we need to see if the neckline will hold
Kommentera:
Dear Traders, here the 1 hour Bitcoin chart and we see a small H-S pattern has formed where the neckline has already been re-tested.
I expect now as first targets:
Target 1 46800
Target 2 46014
I expect now as first targets:
Target 1 46800
Target 2 46014
