TomPip

BTCUSD Week 5 - What are we watching?

BITFINEX:BTCUSD   Bitcoin / Dollar
- Apex of week 4/5 is very close to the 22nd Dec. '17 low. This could mean we'll see a strong move from this level in week 5 (if not sooner), but the move might still be restricted to the price action (PA) channel. I'm still neutral here.
- Apex of descending linear regression resistance of the lower highs set in Dec. '17 and Jan. '18. This could be a bearish case if it reaches that level in mid Feb. as two resistances meet here.
- A pennant in a downtrend has a bearish bias. In case price does move down, then i'll be looking to scalp long if price moves close to the descending support.

Please like if you appreciate the idea!
Kommentar: Looks like price will set a lower low. Looking at these levels to buy:

Trade ist aktiv: First limit buy triggered

Kommentar: 2nd buy not triggered, unfortunately. Will be closing 2/3 of my position around 9200-9250:

Trade geschlossen: Ziel wurde erreicht: I closed 2/3 of my 20% position and i'm still holding 1/3 of it. 2nd buy limit is now triggered. Will be creating a new week idea after this comment.
Would you update this? is the channel broken now?
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