Hello everybody, as you can see on my last post BTC Position, I have drawn a trend line on the weekly chart, this weekly chart shows how my perspective says BTC will fall after retesting that trend line, as always, I could be wrong, but I try to do it with the most objectivity as possible.
Let's explain it, first of all, BTC is on a downside market bias, this is something very clear and easy to identify, then, second of all, on the daily chart, we can see how those movements are perfectly alined with my analysis, push, (blue rectangle) correction, and then, the second push (second blue rectangle), what I expect to confirm my analysis is to see bounce and come back lower, after that, the only thing we can expect is going down, I don't mind fluctuations, I do not take in consideration if price comes back again and bounce again, I just take in consideration in order to trade properly what actually is important.
Lastly, I have to say I do not include fibonacci retracement levels, but if you want to see how fibs advice you to arrive from 1300$ to 1600$ region, try it and learn.
Disclaimer: I am not responsible whether if you make or lose money, this is not an investing advice, this is product of my experience.
Let's explain it, first of all, BTC is on a downside market bias, this is something very clear and easy to identify, then, second of all, on the daily chart, we can see how those movements are perfectly alined with my analysis, push, (blue rectangle) correction, and then, the second push (second blue rectangle), what I expect to confirm my analysis is to see bounce and come back lower, after that, the only thing we can expect is going down, I don't mind fluctuations, I do not take in consideration if price comes back again and bounce again, I just take in consideration in order to trade properly what actually is important.
Lastly, I have to say I do not include fibonacci retracement levels, but if you want to see how fibs advice you to arrive from 1300$ to 1600$ region, try it and learn.
Disclaimer: I am not responsible whether if you make or lose money, this is not an investing advice, this is product of my experience.