angel_lobs

Bitcoin soon to reverse!

BITFINEX:BTCUSD   Bitcoin / Dollar
The sadness is most likely ending, we are respecting the uptrend line (green line with breaks) and our supports held on (purple lines with breaks) we see that the 200MA (light blue) is also acting as support!

ABC seems done and at a longer term view this Wave 2 ended! Heres what I mean:
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The white arrows are possible outcomes for the near future! This TA is for longer term! We may see some drops and bounces!

If you zoom out you can see the big symmetrical triangle we are inside (base=green top=red) but inside that triangle we see the falling wedge (orange) this falling wedge is sign of reversal, thus meaning this Bear market is soon to come to an end and we should break upwards of this big triangle!

Targets:
For now the "targets" you should look for are the orange trend lines that make the several wedges!
snapshot

(Pink lines with breaks are supports)

Extra Stuff:
This is my fifth idea on, 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 You can also open my profile and see the other (no longer updated) ideas.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!

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And you can message me in Telegram at: http://t.me/angel_lobs

DISCLAIMER:
This is my own personal opinion! Don't take what I say for granted, this is NOT financial advice. Don't spend what you can't afford to lose, and remember, patience is a key on this Crypto Market! Hold is life!

Trade safe and have a nice day!
Kommentar:
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Closer look the the levels to look to!
Kommentar:
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Red line with NO breaks: Main downtrend
Red line with breaks: Line to look to to confirm a "big" BULLISH trend
Green: Current uptrend
Orange: Old downtrend (broken)
Purple: Support levels
Kommentar: We are building support at the 9.1k/9.2k levels! Great!
Kommentar:
snapshot

9.1K support is holding strong (1H TF) be careful if we drop bellow it!

(IF WE BREAK BELLOW 9.1K SUPPORT) Targets: 8.2k and 7.5k (maybe)!
Kommentar: We are bellow the support of 9.1k!
Targets to look to are the green trend line and the purple lines with breaks!
snapshot
Kommentar: Could be a false breakout, be careful!

For short term I must say I'm not sure on what will happen.

On the other hand, for long term, the sadness is ending soon! At least thats MY OWN opinion!

Trade safe!
Kommentar:
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Trend line I was talking about was respected!
Kommentar: We are bellow this trend lien ^
Kommentar:
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Buy pressure took the price up again to the up trend, it is possible that we see an inverted help and shoulders! Let hope so!!
Kommentar: Last H&S failed.
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The 8.2k support is holding strong and it is what is protecting us against the 7.5k zone!

This could be a triple bottom!
Kommentar:
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8.2k support broken, next one is 7.4k!
Kommentar: We got a new low at 7.8k!
Kommentar:
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200MA touched!
Kommentar: 7.5k reached!
Next zone to look to is 7.2/7.4k

Bellow that we may see the 5k and 3k which will be very bad!
Kommentar:
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BEARISH!

12k drop, 50 days of sadness, when will it end?

No one knows...
Kommentar:
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Support at 6k and smma200 at 6.1k bellow that is death.
Trade ist aktiv: MAJOR UPDATE:

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Kommentar:
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The end.
Kommentar:
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Kommentar:
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Kommentar: It's possible that we see another drop to the 6k level to test it as support!

We must not fail that (if it happens), a successful retest will make a double bottom moving the price to the 9.5k levels!
Kommentar:
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Bearish flag!

Last bottom was at 6k we will most likely see that agin!

In theory the drop is the same percent as the pole of the flag so we could see 5.1k!
Kommentar:
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Green line used to be resistance now it's acting as support!
Next remittances to look for will be yellow and red!

These are not targets!
Kommentar:
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4H Ichimoku shows Bullish!

IF price enters cloud it may go to the other edge, at 9.5k levels near the yellow resistance!
Kommentar:
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Watch out for Fib levels!
Kommentar: Before that keep an eye of the Kijun (Red line from Ichimoku)
Kommentar:
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Low TF bearish
Kommentar:
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Would be extremely good to see an Inverted H&S...
Kommentar:
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So far so good!

Red lines are resistances.. kind of hard...
what is that mean? we are going down?
Antworten
angel_lobs parisian788
Antworten
Finally an idea that makes sense, thank you for sharing

+1 Antworten
angel_lobs CryptoManiac101
@CryptoManiac101, exactly! Thanks for sharing, on the bigger picture we are inside this huge bullish flag! All we need is for it to break up..
Trade safe!
Antworten
im_sng CryptoManiac101
@CryptoManiac101, yea pretty hard resistance.
Antworten
Think the break down was a fakeout. Way too many buy orders on Bitfin. Think we are clear.
+1 Antworten
angel_lobs NoCode326
@NoCode326, to be honest I don’t know what to say... we must look out after the green trend line!! (It’s on the updates)
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Outstanding
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angel_lobs JacobFranklin
Thanks @JacobFranklin ! Feel free to check out my other Ideas if you want!

Trade safe and have a nice day!
Antworten
I wouldnt rush to make pedictions at this point. The real test is near 10k. When both bullish a bearish scenarions target. It will retrace from there and depending on how much that's gonna be it will make it a pretty good indicator for its short term future. Im in since 8.3k because the R/R ratio was pretty interesting in my eyes.

It may revisit the 200DMA. The average person is bearish right now, so panic selling after hitting 10k and retracing is still on the table. February 14th, remember the date. :D
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