Hello All,
So much moves yesterday with the Bitcoins and so much profitable trades the last days for me that it was impossible to find the time to post you some updates. It is a little bit more quiet now so I will use that time to give you a little update.
So yesterday, we touched a deep at 3000$. This was lower that I had foreseen as I was seeing the deeper around 3200$. However all that decrease has been very profitable for me as I was shorting the BTC since days now. However I also missed a good entry point around 3000$ to come back in the BTC. I was not thinking that the BTC will correct so quickly but ok as always, it shows that the trading is just based on indicators and that no one is never sure about what will happen.
What is the current situation ?
So, you can see on the first triangle, the consolidation around 3000$ and after the powerfull breakout to reach our current levels around 3800$. The second triangle is the consolidation which is currently building. Again here we should see a breakout but the most important question is : Will this breakout be bearish or bullish?
I did my own analysis and also read also a lot of other traders and we have all different opinions... this shows how much the TA (technical Analysis) is something subjective. However I will give you my opinion but be sure to understand that it is only my opinion and that I can be fully wrong...
My TA shows that we will continue the drop very soon and that this increase was just a reversal to allow to make now a continuation. Here is a chart based on 4 hours timeframe. You can see clearly the big drop, the reversal which touched the Moving Average (Ma) 13 and 20 and that now we have different signs of a changing of direction.
So yeah I'm preparing to short again the Bitcoin but for sure I will put some stop protections. Be very careful.
Take care all,
Cryptopassion.io
PS : Never invest more than what you can afford to loose. This post is my personal opinion, do your own research before making any investment decisions.
Version française ici : [FR] BTC - Que vat-il se passer maintenant ?
