LTSInvestor

Bitcoin heading down for a retest and then... fly baby fly!

Alış
CME:BTC1!   Bitcoin CME Vadelileri
Hi all, today I am using the CME chart as it's cleaner. I learned this from Eric Krown. The CME daily chart shows Bitcoin's break out from an ascending triangle. And as fate would have it, the measured move takes us to $10.5K, a critical level. BTC needs to break this level in order to reverse the trend from a downtrend to a uptrend. However, BTC is seeing resistance from the downward sloping trend line representing the top of the descending broadening wedge BTC's been in for almost 1-year. So, what happens next? I think that Bitcoin is going to retest the top of the ascending triangle and then make a move to $10.5K which I think it will break. Why do I think this? Because the Stochastic RSI is in overbought territory and the RSI and Money Flow are about to enter overbought territory. Whenever all 3 of these indicators line up like this, we see a correction in Bitcoin's price. So, I think that we'll see price correct to the top of the triangle which will cool off the indicators, and then BTC will resume its push to break $10.5. And when it does, well, given the descending broadening wedge, that suggests a break out target of $14K :-) Only time will tell and until then my friends... Happy trading!

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.