Bitcoin from Technical View:
We are seeing the decrease in prices since from 12/19/2017. Although we have seen there were lot of fundamentals like South Korean Government trying to regulate their exchanges which further pushed the price of bitcoin down. However, at that time I was expecting lower prices from technical point of view.
I have been following bitcoin since from 2 years. I have detailed observation of its pattern and its move. I will hare some important information regarding next move of bitcoin .
Important Support Levels for next move of bitcoin:
Area of 8000-9000 is an important support area for bitcoin. There are less than 10% chances of this area to be broken. Btc prices might give a big spike candle low and spike candle high from this area. However, there are very less chances of genuine breakout of this area to downside. I am expecting good buy from 9500 area.
Stoploss and Targets for Bitcoin trade:
Stoploss of bitcoin trade will go below 8000 preferably 7500 for totally safe trade. While it is hard to say the about targets. The minimum target or TP for trade will be 18000. I am expecting market will make a pattern to price of 18000. However, the pattern may or may not be easily detectable. I will update later regarding the exact TP to exit instantly instead of holding.
Technical Analysis View:
In H4 time frame we can spot the downtrend channel with lower lows and lower highs. Now the downtrend is almost complete. I am expecting a reversal from this point now. However, wait until the price get to my mentioned position.
In H1 time frame we can see there are multiple downtrend channels. All the channels have completed their downtrend cycle at exactly this point. Now a big move up is expected.
Conclusion:
Here is a detailed chart for a quick look.
Accuracy of my Technical Analysis Method:
I have been following this technical analysis method for 2 years. The accuracy of this method is 90%. From over the practice of 2 years. I have relatively good grip on it. In this method I usually captures long term trades on reversal point. It has great accuracy both in Forex and in Cryptos.
Disclaimer:
I am a trader and technical Analyst. The post above indicates my forecasting, regarding the movement of bitcoin in future. The post in any way doesn't encourage you to invest in bitcoin. Forex and Crypto trading includes a risk to your capital. I will not be responsible in case of loss.