Bitcoin story
Aktualisiert
This is the plan for the big picture. I will provide more informations in lower timeframes.
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Hi guys, as promised now follows the update in a smaller time frame. Bitcoin is, contrary to the opinion of all the permabulls here on Tradingview, in a major correction. What does that mean? Right. Falling prices. As you can see in the big picture, there is probably a move towards the 20,000 zone. As you can see, the price is moving into the marked zone, only to run into the previous support as a resistance zone. (green arrow) If we see a stop of the movement there and a fall below point B, then it is time to fasten your seatbelt.
A break of the 38,000 mark would generate new upside potential and invalidate the current bearish formation. The probability of a fall in the price is greater than a break of the 38,000 mark. Nevertheless, since Bitcoin is bullish in the big picture and this is merely a correction, I will be wary of shorting. Rather, the shown picture is to find new buy zones and these are in the mid to low 20,000s. Good luck and keep calm!
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Like expected. Our structure of the abc pattern is finished. If we break point B, downside movement will accelerate.
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The picture has changed and I see a potential for bitcoin to rise again. We have seen a breakout and are now testing the trend line. In the process, an inverted shs is forming in the 1h timeframe.
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Breakout of the triangle. Next stop is 50.200 USD! At this point we have to analyse what happens next, upmove or a retest. The big target is 63.000 USD.
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