BTCUSD Breaking the channel or to Wave 5 ?

24 Şub 2020

Short term:
The price is touching the rising channel support,
If it breaks one mid-term level down Target: 8300.
If it continues we'll rise one mid-term level up Target: 12000.

(i'm playing this on either side's breakout, using the opposite side as a stop-loss.)

Mid term:
We're in an uptrend before the halving, if the past is to repeat:
We will see a correction around the halving, bringing BTCUSD back near the long-term rising support.
Offering relatively low prices in a Long term perspective.

In the past the price sticks near the long-term rising support line:
This would be a good time to switch to a strategy that is LONG biased.
EG. mid term RSI with big longs and small shorts.

Long term:
From its Higher low to new highs, negatively correlating with the upcoming 2020-2021 Financial Debt Crash.
Going up to 50.000? 100.000? Who knows, it all depends on the values of BTC and USD

View on other timeframes : Bitcoin / U.S. Dollar (BITSTAMP:BTCUSD) (Temporary)

24 Şub 2020

Not

Long term View:

25 Şub 2020

İşlem aktif

Short opened @ 9550 / Stop-loss @ 10050
BTCUSD broke the rising channel, taking the short side.
Currently in a Narrowing descending wedge, and will likely form a broadening descending wedge.
On its way down it is likely to bounce between resistance levels.

27 Şub 2020

İşlem aktif

Took some profit near the lower line of the broadening descending wedge.
This will bounce of that line.
Going to re-short @ 9000 , Target still @ 8300

10 Mar 2020

İşlem kapandı: hedefe ulaştı

𝗧𝗮𝗿𝗴𝗲𝘁𝘀 𝗥𝗲𝗮𝗰𝗵𝗲𝗱 (with some eyeballing)


Will be posting a follow up 2mo