Bitcoin : Squeezed between a resistance and the 50Smma

20 juil. 2018

Hi,

As you can see Bitcoin is getting squeezed between a supportive/resistive trend line, and the 50 Smma.
This implicates an important upward / downward move could be on its way, market has to make a bearish or bullish decision soon.
We have to pay attention to the shape of the incoming daily candles, to see if they form a bearish reversal or not.
Stay tuned

The Squeeze :

20 juil. 2018

Note

If Btc falls from here, the fall of alts might be terrible, they are in bad shape right now

20 juil. 2018

Note

Market decided to make the important move the bullish way.
When we see such a move happening, analysis should immediately be:
is it a false breakout? Will it stay above this trendline and use it as a support? Will it go below it during this day or in a week/in weeks?

20 juil. 2018

Note

Just to see why patience is key in a volatile market :
In the morning, the daily candle was starting to print a bearish appearance

But at the end of the day, this is clearly a bullish candle :


P.S.: the day is still not closed, this candle could still change its shape and become bearish !
End of this TA.
Possible targets if Btc doesnt drop from here :T=7.777$, and T=8.646$
Bullish bias, possible targets still

20 juil. 2018

Note

I guess if you're staring at the market you just see what i meant lol.

22 juil. 2018

Note

Now it is squeezed below.
Do bots and humans know what they want? lol.

22 juil. 2018

Note

23 juil. 2018

Trade fermée: cible de profit atteinte

First T=7.777 reached

24 juil. 2018

Note

At this rythm, we might hit the 2nd target of 8.646$ soon, why not today?

27 juil. 2018

Note

Apologizes for the T=8.646$, it couldn't break above 8.500$
But profit is profit, sometimes you have to be very selective and only trade a few times in long time frames, better 3 solid trades in 3 months than 20 with a global loss