Chalfie24
Long

Bitcoin 3 levels

BITSTAMP:BTCUSD   Bitcoin / Dollar
Three key ranges for bitcoin:
  • $~8.8k-$9k = 50% retrace of 28/1 -> 6/2 decline.
    50% pitchfork level. 17th January low, 10th February high.
  • $~9.5k-$10k = 61.8% retrace of 21/1 -> 6/2 decline. 3rd February high. Top end of pitchfork . 50% retrace of entire bitcoin             market.
  • $7.8k-8k = 200DMA. 2nd February low(which was significant break of (8/11/2017 high). Median pitchfork level(previous swing lows 9/2 + 11/2)
Remaining bullish for now after breaking back above 200DMA.
Changes in retail sentiment (net long positioning dropping as we bottomed out) another bullish indicator
Will keep updating along the way as we test levels
Kommentar: Failed at the first level again. Coming to s1 and .236 retrace
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Kommentar: .5 retrace & .25 pitchfork level providing short term support
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Kommentar: And pivot providing res in the short term
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Kommentar: Pivot been strong all day
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Kommentar: Same res being hit with R1 & now forming triangle
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Kommentar: Squeezing through 10th feb high into 17th january low
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Kommentar: Sorry switching charts just have different versions. Looks cleaner here. But eyeing up the 2nd target. the 61.8% retrace, 3rd feb high, median pitchfork & the big 50% retrace of range.
Kommentar:
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Kommentar: And now we're attempting to break this key level. Need a firm daily break above it
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Kommentar: Strong pullback from that level
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Kommentar: Spike above 10k. Need a daily close above it to then target ~$11k & the 100DMA
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Kommentar: Narrow channel up. Break and re-test of this 50% retrace of entire range
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Ähnliche Ideen

so we never see 5k again ??
Antworten
Chalfie24 javadth
@javadth, there are no certainties in trading. If governments started talking about regulation in the crypto market sentiment could change. But off the back of the SEC/CFTC senate hearing, news wise we've looked to have set a bottom.
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