Bitcoin Where The Price Is Heading Next

COINBASE:BTCUSD   Bitcoin / Dollar
BTCUSD update: There is saying when you trade enough of time you start seeing patterns. This is true as I can say for myself. This morning I saw similarities what has happened in the past with the price of BITCOIN .

When you look at my chart you see numbers. They are presenting that how many times the price has hit the top of channel before falling.
The price has reached twice the top of channel (numbers 1,2) and dipped in the price value until bounced back up making ATH (numbers 3). It's way too similar what has happened lately with the price of bitcoin too!
So this is giving strong indicators that the price will eventually retrace. Green boxes are showing where the price has ended up to and bounced from that area.
Last time the price dipped and the strong bounce off (this can be found in between of 2 and 3 numbers) did happen in between of 0.382 and 0.5 FIBONACCI levels.
This is giving to us pointers where the price is heading next. When we draw FIBONACCI from the last time the price bounced and changed the trend till ATH , we will get new area where the price might be heading to.

Notice RSI . This indicator is giving strong signals that uptrend is changing it's balance towards downtrend. The Price is making highers highs while indicator is showing lower highs. This is called Bearish Divergence.

If you have any questions about this trading idea, I'd be happy to see your ideas or questions. I'm gladly willing to help if any questions comes to your mind!

Things to remember:
-> To trade safely we need to use stop losses in case something goes wrong.
-> Note this is a long term trade! Requires patience and flexibility to adjust the sails of the market movement.
-> Always be aware of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!

Be Careful While Trading!
Any questions or need help? Feel free to leave comments and feedback!

Trade ist aktiv: Sorry for the typo in my chart! Was meant to say "These lines are actually giving where the price might go next."

Here's how previous trend line was breached.

I will post later how did I found the previous landing zone with the elliot wave theory and how it's helping us to find the current one. :)
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Very Nice!

+1 Antworten
yarr Piptocurrency
@Piptocurrency, thanks!
beautiful and to the point...thank you
yarr Lithmos
@Lithmos, No problem and enjoy!
why are people still analyzing 15th September as normal correction if we all know that the massive ban off china exchanges caused that. real correction would have been at higher price (aprox 3800) and we did get that correction on 13th November with price falling to 5500
diegofnu bedarija
@bedarija, I dont think having a rational explanation to a correction makes it invalid to TA. Fundametals influence big changes , yes. But i think patterns can grow out of thease fundamentals; psychological rythms, liquidity, etc). Im new at this but im not new to paterns, and they are never as abstract as they might seem. Lol, Im also short on bitcoin so...
+1 Antworten
nice fractal and pattern analysis dude, thumbs up on sensible data
+1 Antworten
yarr majorlee
@majorlee, thank you very much!
Love this, the symmetry is remarkable. Good job!
+1 Antworten
@DanUngureanu, yeah great fractal huh
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