Fel-X

BTCUSD - Giant Bear Flag

BITFINEX:BTCUSD   比特币/美元
314 0 2
Line
  • 6 February 2018 - 20 February 2018 : Bull run which having Valentine and Chinese New Year as catalyst. Because the more transaction that gonna happen, the more demand on coin. Sadly it went rising wedge , fails on $12000, and strong FUD is in the air.
  • 24 February 2018 - 5 March 2018 : Obvious falling wedge , but its great to see the second attempt to surpass $12000 which start to fall with the power of bad news, however the FUD in the air is not as strong as before.
  • 7 January 2018 - Now : Giant Bear Flag which still in play, sadly until now.

Analysis
Hi Traders ! This is my first TA on Trading View, and honestly i still need to learn a lot from everyone from Trading View. Today i want to share my analysis on BITFINEX:BTCUSD             . Anyone can be bull and bear, its up to you guys, however for now i gonna go bearish . BTC             still playing on the $9K area, not even $8.9K or $9.1K when i made this TA. We can see from the giant bear flag i made, the last green candle was on 3 March 2018, and it seems going lower again because the RSI direction is going bottom. If this coin fail on 9K, i doubt $7K can hold as support and obviously gonna retest 6K, and in my opinion i doubt its gonna touch 5K for now. Remember, be careful if you want to catch next falling knife.

For my reference, i gonna cite MagicPoopCanon and TomProTrader.

MagicPoopCanon calling 6K target since he made bear flag which started on 6 March 2018 on 4 Hourly chart.
TomProTrader call 6.1K - 6.5K target, this is very interesting, seriously, not even 6K. This TA said that we need flag breakout confirmation level at 8820.

Thats all for today, this TA is only for educational purpose and not a suggestion to buy or sell.
Every positive feedback and constructive criticism are important to me and the community.
See you again on my next TA.

Fel-X

Terminology
TA : technical analysis .
RSI : Relative Strength Index .
FUD : fear uncertainty and despair, lol just kidding, it was fear uncertainty and doubt.
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