Bitcoin at Strong Support

Hello guys, looking deeply into BTC corrective pattern it has filled up with series of triangle formations.

In July 15th price breakaway from this major triangle to make a high of 8480$ and ever since then we had been going lower on each of the test on Neckline to this new high level(BLACK TRENDLINE).

Also, its observed that price showing serious respect to the NECKLINE of the previous triangle as each of the drop are been supported strongly with this trendline(PURPLE TRENDLINE).

Price is presently trading on the bottom trendline now and if the previous view and strength of this trendline is something to write about we should see major bounce from it to re-test the upper trendline which is suppressing all the BULL move.

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We have some buy setup on daily timeframe.

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Previous view on BTC

Bình luận:

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Bullflag on 1hr timeframe will this work out or fail again.

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BTC finaly found its strength and the bullflag play out real well. this is great.

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Hi guys we need to be careful at this moment, reasons are:

First if this move is for just mere correction the target is almost achieved which mean just wave abc the maximum target will be 3625-3700$.

But if the move is potential immediate reversal we are all hoping for then the target will be around 5200$.

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Formation of Bullish Flag and Pole is completed with its target achieved. Now we need to wait to confirm the next possible move for BTC.

Thanks for following my updates.

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We pick up ETHUSD earlier also from here check it out.

Below is the chart for ETHBTC

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Ripple accumulation in progress it will have one more leg up soon

Bình luận:

XRPBTC drop to begin also as it need more correction for its last uptrend move.

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SKYBTC hitting potential bottom

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the way to the bottom seems so far, but for now we will trail it day after day to get to the bottom.

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