Hello guys !
Since a week ago, #Bitcoin just hit TP1 (8888$) then went back down.
Community seems to like charts with colors showing different steps and contexts. And like you can see, because price is fractal you see patterns repeating themselves on different scale.
I’m pretty sure price won’t go back to 6000$ (trapping volume) and the million dollars question now is wether or not price will overshoot or undershoot 7350$ before starting a new “green” phase.
This being said you don’t have to, nor you should, try to pick the exact bottom. At some point you have to take the risk and aim for a pertinent reward. It’s a probability game that you play on large numbers. You can’t be sure to be right but you can be sure that sometimes you’ll be wrong.
You can’t predict how many times in a raw you’ll be wrong neither but it’s okay.
At least you should be okay with this, if you are confident in you ability and money management you’ll be fine and profitable on the long run.
We know ‘they’ are going to play with those pink line, if in doubt, sit on you hands and wait for pattern to unfold.
Also as price is now in between a range from 6 to 12k$ you can ‘relativised’ your position.
Targets ?
Targets are exactly the same as last week accept for TP1
- TP 1: 9100$, previous local high
- TP 2: 10'000 $, pivot and psy-level
- TP 3: 11'800 $, shorts stophunting area
- TP4: 13'000ish $ (unfilled trades level)
Don’t hesitate to join us on Telegram, upvote, share and ask questions in comment section.
Much love,
Cédric
Tatch Capital Limited
[TCN]: Tatch Convertible Note (aka TatchCoin)
[TCN/EUR]
All disclaimers and common sense apply.
No advise, just personal commentary.
”Never go full retard”.
Tags:
#BTC #USD #Trading #Cryptocurrency #Bitcoin #Technical #Analysis #Price #Action