Hello. I`m glad i was right at least about the fact, that btc will not go up so fast. And now the market shows, that we are going even deeper. So, i guess 1-2 days left before we surely now what will happen. What must we see to make a decision? 1. Closing week candle with body lower than a half of the general length. 2. Breaking lower Boilinger Bands line. 3. Break previous low. Also, you can see some parabolic support. In the case, where we bounce from it and continue the growth, we could reach 50 k. Now, if we break through it, i think we will get LONG correction or flat. And maybe it is good, at least for the traders, who went out in time, because after the long correction we can get those 50k with the good conjucture and if the faith in bitcoin remains. To make the analysis complete, i can also mention the pattern. On 4h timeframe head and sholders are visible. Furthermore, it looks like nicely confirmed. Confirmation is good, when the left shoulder is tiny in comparison with right and volume in left shoulder is lower than in the right.
Now watch for the breaking the levels . That`s all. Thank you for attention! Have a nice day and happy christmass holidays!:)
If my charts helped you somehow, you can help me with donation. I`m saving up 0.02 btc to start trading and the part of it i`ll use to get the tradingview pro pack. Any satoshi from you are preccious for me. I will be extremely happy to start trading with your help in the New Year! Watch status to make it.
Komen
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However, watch 10k level and bounce from it. many traders thinking of it as a botom and ready to but a lot. Thou, on their longs we can dump even lower:)
Komen
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so, that`s what is possible. usually, when this kind of support appears, price goes up very well:) and right now i dont like it. so, the reference point will be the bb line. bouncing will confirm the descending movement, break through will mean some growth, at least in the short term.
Komen
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but i see going it like this
Komen
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Important update. we met strong support. in the previous update i said about the support line, that`s usually reversal, and price going up persistantly. trap or reversal? no answer right now. the only possible way to trade is a breakthrough strategy: breaking triangle levels or upper or lower BB, combined with DMI indexes. (crossing lines - up; as it is - down).
Komen
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some theories.personaly i dont like these theories because of uncertainty. i respect only TA indexes and trading between levels, but somebody may find it usefull anyway. 1. making triangles whithout new ATH and new lows. 2. simply new uptrend. 3. flat or slow correction
Komen
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if i wanted to buy, i`d better did it after breaking upper bb, 0.786 fib and DMI cross. not earlier, because i still see the possibility to correct
Komen
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Komen
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watch out. breaking triangle.
Komen
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same strategy as named above. byt after breaking bb and 0.786 and close stop loss
Komen
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but too early to change the chart from short to long because of the lack of the confirmations (signals from the screenshot)
Komen
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i`d like to correct a strategy a bit. i`d buy from 16 k (strong resistance right now) with stop loss around 0.786, cause still fill the lack of bull`s confidence