BTCUSD passed by allready it´s probalby widely anticipated "panic low". Now we have seen it. We have seen the widely anticipated "crash" as well. BTC now forming a bottom pattern. To detect it Crypto traders likely can follow well known chartpattern from FX, Stock or Bondmarkets.
Short term target is the a possible resist from a inverted left shoulder at 9.5k. Weekends past few weeks brought from Friday evening until Sunday morning something like "quiteness" depending on negativ news. If ever the noise is fading BTC went up. Time to enjoy the weekend, folks.
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Pull back to downtrendline:
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Downtrendline re tested. What we see in BTC doesn´t look that bad. BTCUSD likely to form an inverted head & shoulders pattern. This would trigger a medium term, mulitple buy signal.
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BTCUSD now at an important point:
BTC needs to rise to 9.500 to avoid new downsidemomentum wich could cause lower lows and confirm the path to "Zero". BTC needs to stay above this trendline. Hodler shout activate now SL orders to avoid to get crushed if ever BTC accelerates again downside momentum. Watch BTC now very, very closely.
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BTCUSD: Inverted S-K-S closed to be completed.
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UNCH: BTCUSD: Inverted S-K-S closed to be completed.
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UNCH: BTCUSD: Inverted S-K-S closed to be completed
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UNCH: BTCUSD: Inverted S-K-S closed to be completed
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Bitcoin extended a rebound on Monday as the regulatory concerns that have plagued digital currencies this year showed signs of subsiding.
UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed
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UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed
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UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed
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Target @ 9.500 almost reached.
UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed
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Target @ 9.500 almost reached. Trade ready to close.
UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed
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TRADE CLOSED, target almost reached. This trade is closed because otherwise to many trading ideas are open wich need to be covered daily. To close USDBTC is no decission if BTC might rise further - or not.
Your trendline looks of. Should be somewhere around 9200
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@mycoinmoon, you can choose diffrent settings. I followed BTC in the downtrend very closely with this setting. I traded the fals break above this trendline long. BTC later is falling back. After this happened the sell off occured directely.