GrenCo
Long

BTC/USD - Movement Strategy

COINBASE:BTCUSD   Bitcoin / Dollar
Dear trading fanatics

This will be my first chart published on Tradingview and I will give you an idea of how I think this will go further on.

Korea 'the country of crypto' released thursday some FUD about BTC             which brought the price down significantly. They again talked about banning the cryptocurrency trading which isn't good for the positivity of BTC             . The hype is getting overloaded and they are making laws to bring it even further down. The police and tax authorities raided local exchanges on alleged tax evasion also in the past days.

FUD will be FUD and will keep going on because crypto is growing. But where it ends?

Now my thoughts on BTC/USD:

After the drop over the past days I think it will recover soon. It is retesting the resistance line for the 5th time and it will be a crucial point of which direction it wil go. A possibility it will make an elliott wave higher than the previous top considering the difference of both tops approximately 800 USD.

You can clearly see a head and shoulders pattern of which dropped the price down. The bat pattern ended and indicates it will recover up.

I'm still learning a lot, so any advice on trading is always welcome!

* The Best Is Yet To Come *
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