BITCOIN (#BTC): Falling Window Candlestick
Hello Crypto Traders,
I am here with updated BTC TA.
Firstly, today's brief summary - After few days of rising, BTC was stopped by EMA100 at $7400 and price dropped below $7000. Meanwhile, on a small TF, can see the well-known figure named "head and shoulders" - with the prospect of going down to the are below $6500 again. BTW pay your attention to two long red candles (10:00 and 16:00) well known as "Falling Window" = highly bearish signal and indication of downtrend continuation.
What we can expect to happen now? Hard to say, because BTC is highly manipulated. But In my opinion = So, dropdown! I suppose to downtrend will continue and price will be dropped below $6500. Not today, maybe not tomorrow, but in a few next days. After that we can expect rebound to price at $8000.
All important EMA's trend lines are above us. Kijun reversed from bullish to bearish. MACD is bearish too. Just, RSI is overbouht.
Never invest all your BTC in one or two coins. Diversify your balance with *1/10. Remember to set stop-loss 5% - 7% below of your entry point. Always set a stop-loss at entry point after the price increased. Always sell 30-50% of your investment and set a stop-loss at 5-10% below after reach first target.
I hope you enjoy my charts, please writte your comments, hit that like button or follow me. Thank you!
Good Luck!
I am here with updated BTC TA.
Firstly, today's brief summary - After few days of rising, BTC was stopped by EMA100 at $7400 and price dropped below $7000. Meanwhile, on a small TF, can see the well-known figure named "head and shoulders" - with the prospect of going down to the are below $6500 again. BTW pay your attention to two long red candles (10:00 and 16:00) well known as "Falling Window" = highly bearish signal and indication of downtrend continuation.
What we can expect to happen now? Hard to say, because BTC is highly manipulated. But In my opinion = So, dropdown! I suppose to downtrend will continue and price will be dropped below $6500. Not today, maybe not tomorrow, but in a few next days. After that we can expect rebound to price at $8000.
All important EMA's trend lines are above us. Kijun reversed from bullish to bearish. MACD is bearish too. Just, RSI is overbouht.
Never invest all your BTC in one or two coins. Diversify your balance with *1/10. Remember to set stop-loss 5% - 7% below of your entry point. Always set a stop-loss at entry point after the price increased. Always sell 30-50% of your investment and set a stop-loss at 5-10% below after reach first target.
I hope you enjoy my charts, please writte your comments, hit that like button or follow me. Thank you!
Good Luck!
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