Hello, I decided to share my thoughts and make a forecast on bitcoin for 2018.
Based on the current situation, we have 2 scenarios.
1. Or it is a bullish 2018 year.
2. Or a change in the trend of bitcoin from bullish to bearish.
I personally give preference to the first option.
So, we are now on the verge of making an important decision.
On the weekly chart, we have a symmetrical triangle (indicated by a pink color).
If we break this triangle around $ 9,500-9600, then we remain in the bull trend, if
break through $ 7,200, that is, the probability of a trend change to bearish (here there is still the opportunity to remain in the bull trend if we push off
from the initial trend line marked with a green color of about 4200-4500, while the triangle model will not be realized).
Why will most likely be implemented the first scenario.
1. A symmetrical triangle is usually a continuation model. It displays a pause in the current trend,
after which the original direction of the trend is resumed.
2. Now we have a bovine trend initially, which means that the trend will continue.
3. Weekly Stochastic RSI has reached oversold.
The objectives for the implementation of this model - $ 24000, using the method of measuring the model of a triangle - is the length of the vertical
segment in the widest part of the triangle (base) $ 14,500 + breakpoint $ 9500 get $ 24,000 (price approximate
plus minus $ 2000).
This is not financial advice on trade, but only a personal opinion of the author.
I wish you successful trading.
Based on the current situation, we have 2 scenarios.
1. Or it is a bullish 2018 year.
2. Or a change in the trend of bitcoin from bullish to bearish.
I personally give preference to the first option.
So, we are now on the verge of making an important decision.
On the weekly chart, we have a symmetrical triangle (indicated by a pink color).
If we break this triangle around $ 9,500-9600, then we remain in the bull trend, if
break through $ 7,200, that is, the probability of a trend change to bearish (here there is still the opportunity to remain in the bull trend if we push off
from the initial trend line marked with a green color of about 4200-4500, while the triangle model will not be realized).
Why will most likely be implemented the first scenario.
1. A symmetrical triangle is usually a continuation model. It displays a pause in the current trend,
after which the original direction of the trend is resumed.
2. Now we have a bovine trend initially, which means that the trend will continue.
3. Weekly Stochastic RSI has reached oversold.
The objectives for the implementation of this model - $ 24000, using the method of measuring the model of a triangle - is the length of the vertical
segment in the widest part of the triangle (base) $ 14,500 + breakpoint $ 9500 get $ 24,000 (price approximate
plus minus $ 2000).
This is not financial advice on trade, but only a personal opinion of the author.
I wish you successful trading.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.