BTCUSD price must retrace to atleast $3605 (BITFINEX & BINANCE)

XBTUSD.P
BTCUSD
BTCUSDT

After many days in a trading range of approximately 4%, bitcoin finally broke the falling wedge and made a "Pump" of more than 10% in the last hours. There was a break with great volume and the price jumped fast from $3420 to $3800. This movie up was expected in the break of the figure (falling wedge), as I mentioned in previous charts that you can follow in my tradingview profile.

If you could not get on time and get this beautiful move, the time for a LONG for sure is NOT NOW, the price is currently at $3737 and should make a
retracement in the coming hours reaching at least $3605 which is 0.5 fibonacci.

I will continue to follow the charts and bring updates, but for now this is the scenario, $3605 is a support point that must be reached and then we can re-evaluate the whole scenario for the next few days.

God bless.

Comentário:

Completing... BTC touch perfectly the downtrend line of the descending channel, which is a major trend in play in short-term timeframes, also is trying to stay above the 200MA but I dont think it will hold for now. Probably we’ll see the price turning back below the 200MA and then fighting to breakup again.

Comentário:

Trading Idea (SHORT)

#BTCUSD (BITFINEX)

Leverage: 3x

Sell-Short at: 3750+

Target: 3675 (+6%) and 3605 (11%)

SL: 3825 (-6%)

Ordem cancelada:

BTC made a retracement upto $3628 which was very near to 0.5 fib level as I said some hours ago and then started to go up again, so the movement that I was expecting already happened. Im canceling the SHORT signal given in the last comment.

Anyways the price made the movement very similar with my expectations.