CryptoJC
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Bitcoin about to copy paste a bearish trend reversal?

COINBASE:BTCEUR   Bitcoin / Euro
Chart analysis of the Bitcoin             - Euro             trading pair at GDAX, observations also applicable on the BTC             - USD pair.

The Bitcoin             price is moving in the same manner as it did a month ago. Depending on line placement it is currently moving within an ascending wedge or flag.

Price, RSI and MACD are moving in a similar fashion as it did a month ago, right before we saw a short term bearish reversal. If the price continues to mirror its previous moves we can expect it to break down within the next 12-24 hours.

I must note volume is higher this time around and RSI is slightly higher bought. We also have to factor in news, trader emotion and market sentiment, so a mirror in trend and indicator values is not a definitive guarantee we will see the same outcome as before. I advice short term traders to stay vigilant and set close alerts for monitoring of breaks in trend and support / resistance lines.

"Good" scenario targets / resistance zones:
Short term / day(s): 7500, 8000 euro            
Mid term / week(s): 9400 euro            

"Bad" scenario targets / support zones:
Short term / day(s): 6800, 6300 euro            
Mid term / week(s): 5500, 5250 euro            

If you enjoy my work please upvote and follow me on TradingView and Twitter for frequent Trade Signals.

Like my TA? feel free to buy me a cup of coffee:

Bitcoin             wallet: 13MJSpaqqpBm9JfqNUFt424CQZBF8TKHYa
Ethereum             wallet: 0x105e37a11abfcfa80ab51c00bc6837f65183af64
Giao dịch bắt đầu: I have posted a Bitcoin - US Dollar version for those trading the BTC-USD pair:

Bình luận: oop, wrong link, here is the USD version:


Greetings @CryptoJC
How will you see the movements of BTC in your idea?
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I have posted a Bitcoin - US Dollar version for those trading the BTC-USD pair:

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I hope you are wrong ;)
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@Bkay1896, me too brother, me too...
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