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

BITSTAMP:BTCUSD   Bitcoin / Đô la

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.

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

Targets are 6400 or 20500.

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.
3 Commos. Good for Bot Trading, Trailing Sl, Take profits. Better than exchanges. Worth Investing.
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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