Bitcoin Triangle and higher targets. check out why!
Dear traders,
Here is a new analysis for Bitcoin which is leading the market right now. BTC dominance in the market has increased greatly and if that continues it will be even more bad for ALT coins then it already is. That is why it is so important to follow Bitcoin closely. I hope this charts help with that.
You are looking at the 6 hour chart here and Bitcoin is currently forming a triangle without a breakout yet.
A breakout downwards from the triangle will see 33400 and 30000 very quickly. I don't expect that but anything is possible of course as these analyses are pure hypotheses.
By the way, this is how I personally think it will go. Many will have a different views and that makes sense after these declines but this is my view on Bitcoin.
In short:
Target 1 42000
Target 2 48000
Target 3 51000
Target 4 53000
Support 33400, 30000, 29000
If we drop below 29000 USD then we are going to experience a very bad period for the crypto market and I don't expect it yet. Anything is possible of course and therefore the analyses should be followed up and adjusted because the market moves very fast with this hyper volatility.
----->> Dear traders please follow me for updates and if you give me support with a like👍 then that will motivates me a lot to continue💚 - Thanks guy's! <<---
Safe and happy trading!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
Here is a new analysis for Bitcoin which is leading the market right now. BTC dominance in the market has increased greatly and if that continues it will be even more bad for ALT coins then it already is. That is why it is so important to follow Bitcoin closely. I hope this charts help with that.
You are looking at the 6 hour chart here and Bitcoin is currently forming a triangle without a breakout yet.
A breakout downwards from the triangle will see 33400 and 30000 very quickly. I don't expect that but anything is possible of course as these analyses are pure hypotheses.
By the way, this is how I personally think it will go. Many will have a different views and that makes sense after these declines but this is my view on Bitcoin.
In short:
Target 1 42000
Target 2 48000
Target 3 51000
Target 4 53000
Support 33400, 30000, 29000
If we drop below 29000 USD then we are going to experience a very bad period for the crypto market and I don't expect it yet. Anything is possible of course and therefore the analyses should be followed up and adjusted because the market moves very fast with this hyper volatility.
----->> Dear traders please follow me for updates and if you give me support with a like👍 then that will motivates me a lot to continue💚 - Thanks guy's! <<---
Safe and happy trading!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
Комментарий:
Hi Traders,
I want to share with you here this chart of Bitcoin.
We see we have formed the Big Triangle and we are somewhere in the middle.
In the triangle we have now also formed a bearisch rising wedge. It looks likely that that will breakout on the lower trendline. The first target is then the rising trendline of the triangle.
If the price can break the blue horizontal resistance than we will be on out way to the upper boundery of the triangle.
A final breakout on the upper or lower boundery of the triangle will make the situation more clear.
I have marked the previous continuation patterns in this downtrend.
There are several and they all broke out to the downside.
I want to share with you here this chart of Bitcoin.
We see we have formed the Big Triangle and we are somewhere in the middle.
In the triangle we have now also formed a bearisch rising wedge. It looks likely that that will breakout on the lower trendline. The first target is then the rising trendline of the triangle.
If the price can break the blue horizontal resistance than we will be on out way to the upper boundery of the triangle.
A final breakout on the upper or lower boundery of the triangle will make the situation more clear.
I have marked the previous continuation patterns in this downtrend.
There are several and they all broke out to the downside.
Комментарий:
And here you see a more deatailled chart. The trendline of the wedge was broken and price is now sticking to it to re-test.
Комментарий:
Dear traders,
The rising wedge reached the target but we also broke down at the symetrical triangle.
I expect the low from 30000 to be re-tested but will post new analysis. I will be watching exhausting signals for a possible bottom.
The rising wedge reached the target but we also broke down at the symetrical triangle.
I expect the low from 30000 to be re-tested but will post new analysis. I will be watching exhausting signals for a possible bottom.
Of course the whales, hedgefunds and institutions know where these stops are because almost everybody put them at the same place ;-)
So what can you do about that? You could for example wait for an important candlestick to close before the stop is triggered. You can check how often stops are hit in a long candle wick. This is just a simple tradingtrick but most traders swear with automatic stops.