BitcoinLong
BTC becoming more bullish
Aggiornato
Hello everyone,
As the days go by, bitcoin is becoming more bullish. Therefore, I want to show you guys a bullish idea that might happen. In this idea I consider the correction is over and the price will go upwards from here on. Meaning that the bottom pattern is V shaped and there will be no W shaped bottom. As you can see in the chart, I draw a major inverse H&S out of two Elliott waves. The target of the inverse H&S is given in the chart and could vary 80%-110%. In order to validate this idea the H&S needs first to be completed with a right shoulder . It is likely that we could face a drawback at the top of the downtrend channel. This dip (equal to the left shoulder) could be a nice entry for people with no position in bitcoin. A good stop-loss could be slightly lower that the left shoulder. Be careful with trading because we are still in a downwards trend and try to use the indicators. Remember that timing a market is very hard!
As the days go by, bitcoin is becoming more bullish. Therefore, I want to show you guys a bullish idea that might happen. In this idea I consider the correction is over and the price will go upwards from here on. Meaning that the bottom pattern is V shaped and there will be no W shaped bottom. As you can see in the chart, I draw a major inverse H&S out of two Elliott waves. The target of the inverse H&S is given in the chart and could vary 80%-110%. In order to validate this idea the H&S needs first to be completed with a right shoulder . It is likely that we could face a drawback at the top of the downtrend channel. This dip (equal to the left shoulder) could be a nice entry for people with no position in bitcoin. A good stop-loss could be slightly lower that the left shoulder. Be careful with trading because we are still in a downwards trend and try to use the indicators. Remember that timing a market is very hard!
Nota
BTC is facing the resistance of the top of the channel. There is an opportunity to go long around 10k. First lets watch where this bottom ends.Trade chiuso manualmente
It's not smart to buy bitcoin now because the 1D indicators are still overbought. I will post a follow up idea soon. Keep an eye on 9200-9700 levels
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