DLavrov

Bitcoin Continuation Pattern

POLONIEX:BTCUSDT   Bitcoin / Tether USD
Last week I wrote about a pennant pattern on the 4H time frame of Bitcoin             as a continuation chart pattern. You can find the link to this post in the related ideas. That chart pattern was not realized as a continuation pattern and after breaking the support line, we saw downward movement to 2400.00 support level . Today we have a new chart pattern which can be spotted as a big pennant or a small simetrical triangle. It does not matter which pattern you prefer, they are both belong to the group of continuation chart patterns. It means that we should expect the resistance line breakout with further upward movement. But don't forget that even if the market moves upward, 2900.00 and 3000.00 resistance levels will be strong barriers for this price movement. We should be very careful with all our long trades. Also, we have to be ready for a possible breakout below the support line. If price drops below this line, this chart pattern won't be realized as a continuation pattern again. We'll see downward movement to the uptrend line at least. If the market can break the uptrend line and 2600.00 support level , it will fall to 2400.00 level or even lower. Before SegWit, price movements are not stable. Watch for any price movements inside the symmetrical triangle and be ready for breakouts above or below the signals lines.
评论: Price breaks the resistance line. Probably the market will move upward to 3000.00 resistance level. It's buy signal but are you ready for trading in such market conditions?
评论: It was a good bullish trap. The market can fall to the uptrend line.
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What yours opinions about ETHBTC ????
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Jour hunglm1984
@hunglm1984, I prefer ETH on long run
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@Jour, thank u, May ETH go to the old top 400$??? i am really waiting for that at the end of year..
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This is a minefield to trade, BTC went down 300 USD in like 30 min. Exciting times.
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YES !!!!
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No Dr Dlavrov, I am not rdy to trade in the current market condition...
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Muy buenos análisis! gracias por la información
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Hi Dmitry,
Nice charts as always.
I´m not normally a "Nervous Nellie" trader, in fact most of the time I swing on the risky side, but this time I feel that being in USD is the best move.
Somehow if feels like we´re all chasing the end of the rainbow with these BCC/BCH carrots dangling in front of us, and it´s making us all blind.

I think these market conditions warrant an extra level of caution and I personally will forfeit my BCC/BCH coins for the safety of my BTC ;-)

It´s going to be a roller coaster ride, so buckle up everyone ;-)
Be safe.

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very risk trade right now also as it currently stands exact double top 2882 on Bitstamp, low volume too
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oetcap oetcap
There is a reverse head and shoulders on the 4 hour though, could get interesting. Too much uncertainty for me to make a trade now
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