philipvdlinde

Small possiblity for continuation uptrend.

BITFINEX:BTCUSD   Bitcoin
Although I have quit trading bitcoin, I thought it would be fun to examine the chart.

Since btc has broken the level of 286 (shortterm support) a break of marketstructure occured, btc will now try finding some support which will most likely be found in the 274-271 area. \\

I have layed out 2 possibilities.

possibility 1:
If btc price bounces at this level, we could expect a run for 286 to occur (new resistance). With the small opportunity of making another run for 300.

possiblity 2
If price doesn't bounce then the uptrend will most likely be over with, and 265-262 will be our next objective.
But I'll let price action decide. Support levels in case of downtrend: 262, 252.4, 247.5 and 238.78.

The chart also strongly suggests an ict sell model, a chart i'll post shortly after this one has been published.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.