angel_lobs

Bitcoin inside triangles!

BITFINEX:BTCUSD   Bitcoin / Dollar
Let me explain my TA and bear with me on this!

Since the high of $19k (Point 1) we started a downtrend (Red line) which we can see by the deny on Point 4!

During this bearish trend we started with a triangle shape (Orange) and at Point 2 we broke bellow thus making a new triangle (Orange) with the same resistance line which lead to a upwards breakout on the Point 3!

After the breakout BTC             went to test the main downtrend (Red) and got denied (Point 4 again)

Since it failed we bounced downwards making a new triangle (Blue) on this one we dropped hard for a long time but found support, that support turned to be the base of the triangle, which is the uptrend we are now (Blue line)!

On the 2018-01-27 we reached Point 5 and broke out of the first triangle (Blue with no breaks) and made another one, this Blue triangle still has the same support but now the resistance is higher (Blue line with breaks)!

As of now we are sitting on the middle of the triangle (Blue) so we just need to wait for a confirmation breakout, wither upwards or downwards.

If it breaks downwards:

Main uptrend, and previous support/resistances (Green line with breaks) can possible targets! (Some of them coincide with Fibonacci Levels but to save space, and not confuse you guys more I didn't include the Fib Retracement)

If it breaks upwards:

Main downtrend (Red line with breaks) can be possible targets!

Now comes my personal opinion:

BTC             is inside a huge bullish flag , and with this correction this just proves my point, All Time High (Point 1), Point 4 (which should be Wave B), and future Point 7 (if we break upwards) prove the resistance line, thus meaning the trend will reverse back to Bullish after we break out of the flag!

Take in consideration that the base of the flag is the MAIN support line of this whole correction!

Here's a picture of what I mean:

snapshot

After this Flag is done we'll see BTCUSD             set new All Time Highs!

This is my forth idea on BTCUSD             , you can check my other three older Ideas on the Related Ideas link section! You can also open my profile and see the other (no longer updated) ideas.

If you like my work feel free to leave your feedback and support!

You can also follow me on Twitter Here
And you can message me in Telegram https://t.me/angel_lobs/

To end this, I hope you are having a fantastic day!

Trade safe!
Kommentar: If we close bellow the triangle (breakout downwards) Targets are the green line
Kommentar:
snapshot


Breaking bellow strong support (base of the triangle in light blue)

Targets are the green lines with breaks:
-10k
-9.1k

Trade at your own risk!
Kommentar: BTC just touched $10,064

For now forget the upper point 7 (on the red line)

As I've said before, we broke bellow the triangle so the only Point 7 that matters is the lower one, targets are the green lines!

Trade at your own risk!
Kommentar: BTC bounced up the support line at 9.9k/10k, TA is still more then valid :) this is all normal.

Trade safe and have a nice day!
Kommentar:
snapshot


Update: Then 10k Support is holding strong! for the last 20h price closed above it! The other target is still possible of course, and in MY opinion is still going to happen before we see this "sad" time end!

"Just chill!"

Trade safe and have a nice day!
Kommentar: After testing the 10k support for like 1 day we finally broke downwards!

Price is now at 9.3k, my target is at 9.1k!

Trade safe and at your own risk!
Kommentar:
snapshot


Both targets reached! Next "Big" support is at 8.2k!

Trade safe!
Kommentar: (Forgot to say that we may see some bounces on the 9k zones like we saw at 10k!)
Kommentar:
snapshot


First price respected the 10k support, after a break we headed to the 9.1k support, since that was broken the only thing keeping us "safe" from the 8.2k support was the old uptrend, which was respected! We are now seeing a bullish engulfing (IF the candle closed above 9.3k!)

Trade safe!
Kommentar: Forget the bullish engulfing (I think..) it was a bad call by me, sorry.

What you have to watch out is the 8.9k level, which is the uptrend line (green line with breaks going updwards) it would be nice to stay above it :) After that the next support is at arround 8k to 8.2k

Trade safe and have a nice day!
Kommentar: Uptrend was broken, price dropped to 8.4k but the people buying the dip pushed it to 8.7k

Support is arround 8.2k
Kommentar:
snapshot


Support at 8.2k held on, price closed (and is) above it!

You can see the buy pressure from 7.9k to 8.3k

Are we done? No one knows, we must wait for now!
Kommentar:
snapshot


Falling wedges, we will be reversing this bear trend "SOON"

In my opinion ABC is done.

Don't take what I say for granted, trade at your own risk.
Kommentar:
snapshot


Short VS Long on BitFinex!
Kommentar: Long VS Shorts* my bad, Long is on right side and Short is on right side!!
Kommentar: LONG is on the LEFT and SHORT is on the RIGHT

Sorry once again I got confused!

Trade safe!
Kommentar:
snapshot


(I've already posted this image a few hours ago)

We are inside this falling wedge we may see bounces up and down, supports are at 8.2k and 7.4k!

Trade safe!
Kommentar:
snapshot


Lines to look to
Kommentar:
snapshot


Support at 8.2k held!

Are we near the reversal?
Kommentar:
snapshot

update
Kommentar:
New TA!
Kommentar: Click the image to to it!
What does this mean for BTC?

This is showing the contracts that end in march correct?

Thanks! Love watching your TA
Antworten
angel_lobs Crypto_Gnome
@Crypto_Gnome, it most likely means this correction is about to end "soon".


Thanks for your support!
Antworten
All time highs my ass. Tether is going down and so is Bitfinex.
+1 Antworten
angel_lobs josephtse
@josephtse, It's good that this USDT and Bitfinex fud started now (during the bear trend) that will just clear the way for an healthier bull run, if that were to happen during the bull trend we would see more impact on btc.
Antworten
7k8k coming!!!!!
Antworten
angel_lobs CryptoKyle03
@CryptoKyle03, first 10k, then 9k I don’t think we’ll see 8k nor 7k
Antworten
Is there anything in people's heads apart from new ATH ?
Antworten
angel_lobs ja.piotr.bor
@ja.piotr.bor, for long term and hodlers like me, no.
Antworten
ja.piotr.bor angel_lobs
@angel_lobs, Of course we will aproach new ATH, but I don't think it will be in next month, and I doubt it will be this year.
Bitcoin has shown, that we are in major downtrend, and until proven otherwise, we must stick to TA and bearish price action.

There will be new cycle, but this is imo over.
Antworten
angel_lobs ja.piotr.bor
@ja.piotr.bor, Only time will tell but thanks for your feedback!
Antworten
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