BTC TA Update - Forming a trading range?

18 thg 6, 2018

BTC seems to have reached an accumulation zone, with price action that behaves similarly to that of early April. This range could last from several days to a few weeks. For this range to be valid, bitcoin should stay within $5900 - $6700 before breaking either upwards (70-80% chance) or downwards (20%-30%).

#1 is our first POI (point of interest). Bitcoin breaking above this resistance trend line would put us on track towards POI #2 at around $7400-$8000.

#2 is our key POI. Breaking above with enough momentum might mean that we could be on track towards high $9000s again. Failing to break this down trend line (which is more probable), might indicate that bitcoin could remain in bearish for a little longer, with targets between $4400 and $5500.

21 thg 6, 2018

Ghi chú

Reasons why I believe we are in a trading range. Trade with confirmation it *could* break to the down side, but like I said before, I think that's less likely.

4 thg 7, 2018

Ghi chú

Downtrend crossed, I think we are still on track towards $7400 - $8000.

20 thg 7, 2018

Ghi chú

Getting very close to POI #2. This is the point that matters. If we cross, then we will be on a new markup phase to at least $9-10k and likely beyond that. IF it dumps, it might find new lower lows.