BTC/USD - Triangles - Short & Long Term Opportunities

28 sept. 2018

According to my latest analyses BTC is still in the bear phase of its cycle and based on my model is set to break the multi-month lows in an attempt to find its bottom in the 3-5K area. For short-term traders, there is an opportunity to trade the break of the triangle. Can be both ways, but personally, am going to trade only the breakdown.

Wish all a great trading day.

28 sept. 2018

Note

Update: As expected there was a break of the projected triangle. A quick trade for those who traded the break-up. Now we can see a strong bearish divergence, which alongside with the retest of the downtrend line is an extremely bearish sign.
The new idea is to trade that divergence, with a SL above the down channel (Daily chart).

28 sept. 2018

Note

For a better confirmation and to minimise the risks the short trade can be opened if the upside of the channel would be reached, as there is a possibility that the triangle will play out like a flag pattern, which has a target projection exactly touching the channel. But there is still possibility that the price will retrace from the current levels of 6800.

28 sept. 2018

Note

Mistake:a pennant, not a flag)

28 sept. 2018

Transaction en cours

Update: As expected the price bounced back from the 6800 area, and reached almost 50% of the projected target in less than 2 hours.

29 sept. 2018

Note

Update: Check my new chart !!!!

29 sept. 2018

Note

Sorry, not mine - thats a good analyses looking at the much longer term picture

29 sept. 2018

Note

Here is my update: