RISE or FALL!? Big Movements to be made!

So we can see Bitcoin forming a potential head and shoulders, very clear! At the same time it is also following a nice trend support line and Bullish Symmetric Triangle.

BEARISH: If Bitcoin drops below the trend support line i will be very bearish as it heads for my minor support zone at the 0.618 Fib at roughly the $10000 mark. Breaking this support zone will see as crashing to the major support zone i have outlined at the point 0.786 fib at around $8900 before bouncing.

BULLISH: If Bitcoin respects the support trend line and Bullish Symmetric Triangle you can find us retesting the new resistance levels at around $12441 which in my opinion shouldn't be too hard to break.

GOODLUCK my friends :)

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Commento:

Hi my friends! So just in case you are wondering, yes this is my first published idea but i have been trading for myself for a while now. I Decided to start sharing my views and ideas about the market with you all!

So with that being said, It does not let me post updated screen shots until i have 10 or higher reputation as well as pay for PRO. So please help me out by increasing my reputation! once i hit 10 i will pay for PRO version and keep you updated with graphs in real time! until then i can update you only with words which i will do! BUT help me, help you! :)

The next 24hrs will be interesting as there is potential for an early break out of the support trend line and Bullish Symmetric Triangle but we will soon see if BTC respects the support trend line and follows the Bullish Symmetric Triangle pattern!

HOLD tight

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Commento:

Well Well Well looks like we broke out of the Bullish Symmetric Triangle and tested the resistance at the 0.236 FIB as i thought. We have bounced off the resistance level and ill be waiting to see if we attempt to retest this level at around 12441, if we fail again you can believe we will drop to retest the support trend line i have marked out in yellow!

Stay Frosty

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