BTC what Next!!!!

Hi guys,

This chart look into basic possibilities of BTC in respect to either sell or Buy Continuation.

Overall market sentiment is down, but I would not like to subscribe to that as there is still possibility for an uptrend continuation.

Looking at the chart from June 24th, 2018 where we had the present yearly low at 5777$ till July 25th 2018 shows a potential uptrend starter.

We had a retracement/correction and price continue to roar back up from from 14th of August, 2018 which lasted till 4th of September, 2018. Then follow with drop till now.

Here are the talking point!!!!
Can we say the move from 24th of June to 25th of July was for Correction or a Potential Reversal???

1. If its for correction then we should expect more fall which can take us more down with new low on sight.

2. If its for Reversal then, the price should NOT drop below the recent established low at 5777$.

On the chart, potential Buy zone lies between 6175-6275 with stop within the area tagged with Pattern Stop Loss Zone.

Looking at the RSI reaction on 12th of July, and compare it with present RSI reaction both shared some similarity which may be for potential uptrend continuation.

The chart is well explanatory with potential targets and basics supports and resistance.

My Take: If I will not be biased I would go with an uptrend continuation from here with a closed/tight stop loss.

Targets are represented with green dotted lines.

If my LONG hit stop loss, I will wait till price close below the recent established low before shorting.

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We have a little Ascending triangle formation. This can break either way.

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Price break down to test the top of pattern stop loss zone. Here is possible next action, price may tend to do a re-test before further fall.

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BTC could be following this path

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Price hit strong support at 6135$ and all eyes on this level, if the level hold we can see 7k zone again but if the level fail the next support is at 5990$ and previous low at 5780$.

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We had the drop from this post.

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BTC back in a narrow pennant pattern again which can easily break into either sides. Here are the possibilities of the break.

If break up, then it will continue to validate the pattern and continue the wave 3 formation with target far ahead of 7100$.

If breakdown the target seems limited for now as there a lot of good support below, maximum down will be 5940$.

Do know that I appreciate you taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates. I would really appreciate it.

Thank you for your support.

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price seems to break the symmetrical triangle upside, let see what the next few hours will bring.

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Hi guys

BTC is trading in a wide range of price between 6120$-6425$

Just like I said my LONG entry was at 6175$-6200$ which still remain very valid. The stop to this trade was placed at 6080.

If my trade hit stop loss, then I will wait for price to break 6000$ down to short to any of these listed support.

5845
5778
5705

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Nice breakup

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Hi guys

Pattern formation in progress.

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#BTC

We had healthy retracement from BTC and this drop bounced off our first support at 6400, we expect trade continuation from here.

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We did have extensive wave 2 and price bounced off the support, let hope it keep holding the price above 6300$.

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