TRENDLINE ANALYSIS

HI guys,
I like to share my view on BTC in respect to trendline and Heikin Ashi Candlesticks.

Arrow
Blue Means- Bounce off Trendline to the upside
Red- Bounce off Trendline to the downside

Contraction Signs shows serious decrease in accumulation phase.

CandleStick Analysis:
Higher Low detected but we still has lower high, for this higher low to be useful it has to follow with Higher high, which means price need to break previous high at 8461$.

Lots of price rejection also detected at the sub 6000-6100$ Level, implication of this is that we might have reach a stronghold level.

Breakout Expectation:
Fact remains that price can easily break to either of the side with breakdown has potential of 8-10% Profit target While if breakup has 23-25% Profit target and more.

Level to watch:
On the upside: 6235, 6807, 8461
On the downside: 6219, 6030, 5911, 5505

FREE ZONE:
Break above 8500$ this will signal possible MOON incoming

Break below 5500$ this will implies possible 4275$ incoming

RSI indicator already breakout from its triangle pattern which signal possible upmove. Will BTC price follow this? only time will tell.

Personally, still remain bullish on BTC see you guys on the moon soon.

RISK/REWARD Ratio worth it, 30% to risk 10%, all we need is proper money management.

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We has immediate trade continuation pattern from our trendline analysis with same signals shown on RSI indicator. We should have at least 78.6% fib retracement of the previous down move.

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Expecting BTC to follow this wave pattern.