maheswar81

BTC on Roof Pattern, can it break up or down? 6400 or 20500.

BITSTAMP:BTCUSD   Bitcoin / Đô la
Hello,

This is my view, I dnot want to scare anyone, but this is what I see on the chart. So get ready for anything.

It is called as Roof Pattern, read more here.

http://thepatternsite.com/roof.html

It can break up or down, when it breaks get ready.

Targets are 6400 or 20500.

Comments?
Bình luận: So we broke downside. Buy range would be 6500-8500. it will take a pause at 11700, 9200, 7500.

It is very hard to get the last level, dnot try bottom fishing.
Bình luận: Remember, this fall is healthy for next year. 2900 --> 20000, almost 6.5 x.

Ex: 7500 x 6.5 x = 48000? is the next target for BTC?
Bình luận:
Bình luận: I see the price is recovering from the support.



Still, the Roof pattern holds good. Price has to break it decisively.
Bình luận: An old descending triangle is broken and the new ascending channel is on the way.

Bình luận: within the pattern and heading towards the support. It is going to be 4th time test.
Bình luận: we are heading to 20k
Bình luận: Here is the update



We broke the roof top pattern and formed a downtrend channel. Price is following into the channel. But there is a strong support at the demand zone. As long as support holds the demand zone, we can buy there and sell on top.

1) Price on trendline
2) Forming a symmetric triangle pattern which can breakout soon.
3) Price is above the support.
Channel : https://t.me/maheshchannel

For Smart Trade : Register here. You can do trailing sl or take profit easily.
https://3commas.io/?c=tc25238
Happy new year every one, tnx maheswar for all your advices
Phản hồi
@RikkieG, Happy New year and yw.
Phản hồi
@maheswar81 for the last 2 days BTC is increasing (11k to 14k). Is it a bull trap ?, Or broke out, or is it early to speak ?
Phản hồi
@ercin, Early to speak. It bounced back from support. Can it sustain? the pattern has to be broken to confirm.
Phản hồi
ercin maheswar81
@maheswar81, thanks for the reply, happy new year.
Phản hồi
Well, looks like I sold the bottom, should I stayed in bed longer. It will be a big loss.
Phản hồi
ctealdi ctealdi
Sorry about the typos, my English is not the best
Phản hồi
@ctealdi, What rate you sold it?
Phản hồi
ctealdi maheswar81
@maheswar81, 12200. I didn't see it was at the bottom of the descending channel, so it bounced to the top. I had a stop loss at 13500, but it looks like it could go to the top of the channel (above that) and continues down, so, I move it up to 14000. What do you think?
Phản hồi
@ctealdi, I am not sure, When you are taking the trade of short at 12200 towards the target of 8500, that is around 30% gain, what is your stop-loss risk? 10%? R: R is 1:3, it is pretty good. A trade can go wrong, no one is 100% right. We have stop-loss for that reason.

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