djkirbynz

Two Scenarios for BTCUSD 1 Hr Chart - 8 Hour Window Prediction

POLONIEX:BTCUSDT   Bitcoin / Tether USD
Trend Analysis prediction on 1hr Poloniex BTCUSDT

scenario # 1 -If breaks support at $3,500 good chance to dump
to next major support at $3,200.
A dump of up to 16% could be realized for those wanted to short.

scenario # 2 - looking for a break out of descending
trend channel before the breech of the support level at
$3,500. The rally needs to be break a minor resistance
level $3600 if successful we would be looking at a rally to test a major resistance at $3,750.
This rally could see a potential gain of up to 7%, not very impressive to the Bulls unfortunately.

I feel scenario #1 seems more likely and would out my money with the Bears over the next 6 to 8 hours.

Thoughts?

Good trading everyone :)
Komen: Lets see what happens in the next hour candlestick to test scenario # 2 or if it heads back down not breaking through the upper trend line and continues tracking through the narrow trend channel.
Perdagangan tutup: sasaran tercapai: Seems Scenario # 2 has been established as current path has confirmed.
Looks like scenario # 2 is playing out. Anyone agree?
Balas
Looks like we are already at 3620.
Balas
djkirbynz Sixboost
@Sixboost, Hi Sixboost, yes keep an eye on the upper trend line as it seems to be hitting it but not penetrating through. We would be looking at waiting for a break through at that level.
Looks it may continue down through the narrow trend channel eventually hitting the support at $3500. If it breaks I predict a dump to potentially $3200. Wish we had a crystal ball :)
Balas
MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Laman Utama Pengimbas Saham Pengesan Isyarat Forex Pencari isyarat mata wang Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar