Bitcoin towards double bottom at 8K/7,5K, but first 10K

Aggiornato

Think Bitcoin will follow this pattern, first it will make an attempt for the 10K and ater that it will probably fall out of this wedge to drop towards the previous low for a chance to make a double bottom. Now short term i think it will make a last small drop towards 8800 to rise up quickly towards the 10K

Nota

It's trying to turn up from the 9000 low. I think it will drop out and go towards the 8800

Nota

LTC, this move is what i mean, there is still much more buying interest in LTC than BTC since the low.

Nota

This flag confirmes my target around 8800

Nota

I have lowered ny stop to my entry level around 9150

Nota

It almost reached the 8800, it's probably already on its way towards to the 10K

Nota

Bitstamp chart (first chart is also from Bitstamp),
If it stays above the line we could be going towards the 9K highs

Nota

Now it has dropped this short term uptrend. I am waiting this time, this sideways action can be tricky. I am waiting for a better moment later today,

Nota

And again the sideways action is fooling most. Looked like it was really turning up and ready to break out upwards, npw it's at the 8800 and looking to drop further. I am still flat and waiting. If i missed than i missed :) Cant have them all

Nota

Other exchanges have dropped below the uptrend support line, Bitfinex just bounced off it. I am still flat and will stay the rest of the day i think. I dont think they will let it go, but thats based on a (gut)feeling, nothing more actually :)

Nota

For the bears i would say, watch this read area, downwards breakout level, should be resistance now

Nota

Back home again, so I completely missed this drop. I really thought it would make one more upswing, like a fake breakout upwards. For now it did exactly what I thought, drop to make a double bottom. When I started this idea, I thought it would go up again after the double bottom, but since it did not even get above the 9500, the weakness is even worse than I thought! This could get very very ugly for the bulls. There is no telling to where this could go the coming weeks/months. I thought a quick drop to 5k would be to much, but now? It could be done easily. But I am not getting in the market now, maybe short is if it rallies back up towards 8800. There is no bounce here, so big chance it drops even further. It’s alle guessing now

Nota

Looks like it will break this short term downtrend

Nota

Broke out upwards, now it should stay above the 8200

Nota

I closed half with 230 points profit, just to sure, sto for the rest at entry level

Nota

I am jumping back in around 8310 with the half i closed, all with a stop at 8150

Nota

Why did i re enter at the level of 8310? There was a little fight at that level a few minutes ago, so i assumed it would find some support there, ofcourse a small guess, but still based on something as you can see.

Nota

I think these 2 options are possible now. Go towards the 8600 where there is some resistance and drop down again towards the low of today. Or it makes a bigger H&S and breaks through to go towards the 9K again. It is making a bullish flag now. It should stay above the 8200!

Nota

Last support

Nota

It's taking to long

Nota

I am out at 9270

Nota

Like i said before, it was taking to long, therefore i closed the remaining with a small profit. Now i will probably make another attempt somewhere around the 8100/8120

Nota

8100 it is, stop just below 8000

Nota

Lowest green area is my stop now

Nota

Stop at 9740 now, close one

Nota

Its making a flag, not looking good!!

Nota

Lets see if it can get above that resistance line again

Nota

I have closed half at a bit above even money. Got a bad feeling, seems to be making a flag

Nota

I am out, minimizing the loss

Nota

could be making a very nice double bottom here.

Nota

i think one more drop towards the 7850, i will go long around that level

botje11

Anche su:

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.