The correction could be completed if the main support line is tested again. It could hit the MA200 (D) (8400) or not so low at 9800 - MA150 (D). If we break the resistance line at 11200, a further direct up is still possible.
Let's see what happens. Happy trading. :-)
See also:
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BTCUSD (30min): close up of the current situation. trendline seems to work.
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BTCUSD (2h): chart update. maybe that I warned a little too early in my last post, but we are not yet in safe water. only if the resistance was clearly broken, we have a buy-signal. and don't forget: "I Made a Fortune Getting Out Too Soon" JP Morgan
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BTCUSD (15min): chart update. broke resistance.
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BTCUSD (4min): chart update. 4h candle close about resistance.
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BTCUSD (4min): chart update. down as predicted. trendline still works.
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BTCUSD (4h): chart update. on track. trendline/channel works.
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BTCUSD (4h): situation chart. on track down.
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in addition to the last post... first predicted point has been reached 9600/9800. let's see if the next point (9000/9200) will be reached. at the moment it could still looks like.
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BTCUSD (2h): first predicted point has been reached 9600/9800. against my expectations we see a breakout. this opens up the possibility for an ISH with an interim high of 10660. However, we are still in the trend channel down. the correction has not yet been completed with today's breakout imo.
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BTCUSD (1h): also possible. thx to @bultbtc. he see another line. could also be possible. be watchful.
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BTCUSD (1h): situation chart. more down still possible.
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BTCUSD (1h): chart update. lets see where were going and the bottom is.
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BTCUSD (4h): volume chart.
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BTCUSD (4h): update ... btc versus btcusdshort. why could we expect another down? the btcusdshort has risen sharply. here is a chart comparing BTC against btcusdshort.
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BTCUSD (4h): situation chart.
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BTCUSD (30min): situation chart. possible bear flag. down trend could not be finished yet.
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BTCUSD (2h): fast update. shs possible ...
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BTCUSD (8h): also still possible ... lets see. next week is important. By the way, the bulls maybe getting stronger ...
BTCUSD (2h): three possible scenarios imo: Bullish1: down to 10000, then up within the trend channel (grey). Bullish2: completion of the SHS pattern with an up to 11650. Bearish: Purple trend channel down to 8800. Last one I don't really see, but it is still possible.
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BTCUSD (2h): if we break the resistance a second time, strog up possible.
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BTCUSD (30min): exactly along the first trend line. see post above. do we now break the resistance?
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BTCUSD (2h): on track along the right shoulder. main chart at the top of the post still works.
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in addition: important resistance at 13800... black dashed line.
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BTCUSD (30min): resistance broke at 30 min
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BTCUSD (12h): strong support at MA 200. positive signal! if look at the top/first chart above, MA 200 was expected. now we reached ths point. if btc stay above MA200, the expected trend reveral could come and a strong up is possible.
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BTCUSD (D): I'm staying positive. I would currently say maximum correction to 8050, then strong up. 8400 we have already seen. My opinion is that the market should have been cleared up by now. let see.
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BTCUSD (4h): three times we have now touched the important support line and it has remained. let's see if it is strong enough.
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BTCUSD (8h): chart update ... on the road up. break resistance.
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BTCUSD (12h): update chart. situation futher stabil. more up likely.
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BTCUSD (8h): update chart. triple bottom poss.
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BTCUSD (12h): my lowest supportline reached (black one). it is from the logscale and very longterm. if it is strong, we could see a green week next week.
@bultbtc, thanks. hard times at the moment. difficult to analyze. yes can also be. i work straight from day to day.
bultbtc
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@btcinvests, You are doing a very good and important job! Thank you for your ideas.
BTCINVESTING
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@bultbtc, thanks i have updated my post. good idea.
ilkayozcelik
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thanks lot sir :)
MoonPickle
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this is going down
summermoon
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@btcinvests , working great so far
would you kindly explain what is btcusdshort
i searched and all i found was ideas on TV, but i still can't understand it
thanks :)
BTCINVESTING
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@summermoon, it is margin trading at bitfinex. google "What Is Short Selling?". you will find everything...