Happy Hump day! I have read this morning another publication telling me "BITCOIN IS DEAD?" If you search the internet you will see BTC has been declared dead 100s of times, yet it's still trading... And you're still here reading my chart.
The only people saying it's dead are the ones who don't know how to trade or what to look for. Right now I see a channel has formed and this makes how I trade so much easier. Channel support sits at $6,287 with that support being vital as it also sits on the long term support in pink. It is more likely that support will hold around the $6,400 mark as the Volume Profile has a larger amount of trades conducted in this range. Upper channel support also corresponds with my previous chart and my Elliot Wave Prediction for a 1st wave in the pattern. The chart shown is a Daily Chart, so if you are expecting the movements shown to be done in the next few days you will be disappointed. If you have a look at how fast the movements have been, it has indeed been as painful as watching grass grow. So what is needed here is patience as BTC slowly meanders into it's new pattern.
If that long term support does break I think that could bring a longer and much more painful Bear Market than we have already experienced since Christmas Last year.
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
Comentário
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How is that grass growing... bird watching... paint drying... Bitcoin moving...
I discuss bollinger bands and 50 daily MA rejecting price | 4h bull flag | Bulls failing to defend $6000 zone:
ParagonVenture
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this is how i see it
Boon2
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I'm also looking for a bit more downside on D1 to complete the internal structure before we get the internal D1 C up completing B. Will the larger C down be the death blow for BTC or just kill off the permabulls!
Checkout the details and updates for the lower timeframe structures and trade setups!
LisaNEdwards
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@Boon2, I'm not seeing the 4s on my charts, but seeing a few people posting
Tether confirms coin burn --> 500 Mio. USD(T)
Three very simple Questions about it:
- Why
- Why now?
- What does it mean for BTC and the whole Crypto Sector?
twitter.com/Tether_to/status/1055139613000507392