Bitcoin story

22 Jan 2021

This is the plan for the big picture. I will provide more informations in lower timeframes.

22 Jan 2021

Nota

25 Jan 2021

Nota

Hi guys, as promised now follows the update in a smaller time frame. Bitcoin is, contrary to the opinion of all the permabulls here on Tradingview, in a major correction. What does that mean? Right. Falling prices. As you can see in the big picture, there is probably a move towards the 20,000 zone. As you can see, the price is moving into the marked zone, only to run into the previous support as a resistance zone. (green arrow) If we see a stop of the movement there and a fall below point B, then it is time to fasten your seatbelt.

A break of the 38,000 mark would generate new upside potential and invalidate the current bearish formation. The probability of a fall in the price is greater than a break of the 38,000 mark. Nevertheless, since Bitcoin is bullish in the big picture and this is merely a correction, I will be wary of shorting. Rather, the shown picture is to find new buy zones and these are in the mid to low 20,000s. Good luck and keep calm!

26 Jan 2021

Nota

Like expected. Our structure of the abc pattern is finished. If we break point B, downside movement will accelerate.

2 Feb 2021

Nota

The picture has changed and I see a potential for bitcoin to rise again. We have seen a breakout and are now testing the trend line. In the process, an inverted shs is forming in the 1h timeframe.

2 Feb 2021

Nota

10 Feb 2021

Nota

Breakout of the triangle. Next stop is 50.200 USD! At this point we have to analyse what happens next, upmove or a retest. The big target is 63.000 USD.