BTC-can't predict where it's going, but can tell where it stops
Despite of what people say, Technical Analysis can give us strong hints about
BTCUSD
. Most ofthe indicators in the diagram have been plotted many months ago, and
BTCUSD
is faithfully delivering to our expectations.
Now, what we can't tell is whether it will rise or fall, but our indicators give us a great idea as to where supports and resistances are.
So based on what the graph is showing us, there's a probability that a correction is coming. I've signalled a few possibilities in such case, and that's where I'd set some buy orders in case it eventuates. Alternatively, I've also flagged some possible resistances in case of a breakout where a take profit would be a good idea.
As usual, please let me know what you guys think, and make sure you check my previous analysis to see where my indicators were, and that nothing has changed (much).
Happy to be wrong... that's how we learn.
BTCUSD
. Most ofthe indicators in the diagram have been plotted many months ago, and
BTCUSD
is faithfully delivering to our expectations. Now, what we can't tell is whether it will rise or fall, but our indicators give us a great idea as to where supports and resistances are.
So based on what the graph is showing us, there's a probability that a correction is coming. I've signalled a few possibilities in such case, and that's where I'd set some buy orders in case it eventuates. Alternatively, I've also flagged some possible resistances in case of a breakout where a take profit would be a good idea.
As usual, please let me know what you guys think, and make sure you check my previous analysis to see where my indicators were, and that nothing has changed (much).
Happy to be wrong... that's how we learn.