My post: https://www.tradingview.com/chart/BTCUSD/Nxt2bpkE-Bitcoin-Some-things-you-need-to-know-before-burning-more/
Dear Friends,
Everythings I'm going to say that only my personal view and all about chart.
Of Course, I'm not saying that i'm right there are no ways that i can know, It's all about the Possibilities.
"Let's hear the voice of the price."
Okay, Straight into. Let's make it clear
The First chart I'm going to show you that is the Monthly Chart. In this extremely timeframe showing me a good news that we may have a potential move up with Bitcoin -16.00% ( About +1300% Potential ), and the bad news a posible down move ( About -80% ) and with these infomation, I would like not to run away of my upportunities but I also be prepared for what going to happend.
The Chart i spotted below here that Bitcoin -16.00% is running in the Price Channel and we're now in the middle of the Channel. Back in the day, in this area have became a Suppot Area that helped Bitcoin -16.00% gain up +1700% and we're here now again! Look like we just broke above this like and holding. In the Price Channel there are higher possibilities that price can move up to the top channel again.
Does it happend again?
The answers is Maybe, there only 2 ways Up and Down. Which ways you going to choose UP +1300% or DOWN -80%. With the -80% also a huge percentage with the current exchange rate.
The opposite barriers like MACD now is positive divergence and the Stoch RSI stayed on the Overbought zone so long this showing alert to prepare.
Move down to the Weekly timeframe . Let's see the what the weekly guys telling me.
The series Up move without rest!
Each cycle in the Weekly chart, Can you see the strength of Sellers? I would say in this smaller universe the strength of sellers are weak or maynot exist with the bigger Timeframe. ( Red Arrows )
Who are using the Bigger timeframe?
May not you! May not me! May not us! But the Whale!
The guys who have possibilies to move the market with a Ton of money, He can change the way of market that He want to go. But which direction ? Think about it!
Enough for story, let's move on.
In this case, Bitcoin -16.00% not only broke above red like but also the mini Channel but came right back to the bottom known as the correction.
Not only back to these Channel but also stepped in the one of my Key Levels ( Blue Boxes ). Just imagine a step of the stair. You can't move up without these steps, right? Like the stair but in case of Market! Think about it! What if we're move up without steps? (imagine like Slide.)
The indicators in this universe showing us the MACD is now positive convergence ( We may have down move when this crossover but the slow one ). The Stoch RSI is dying below the Oversold Area. Combie with the others like Volume showing Sellers weak Ichimoku are about Strong Buy. Not to mention, We are above the most recent breakout at $7000 and This week may just the week of correction.
Continue move down to Daily Chart .
You may curious what The Red Areas mean. That just my little key levels. Interesting!
Yep! The Little key level inside the bigger Key Levels! This showing me these zones may move powerful than the others zones. Bitcoin -16.00% just falled nicely into the Area that my Brother and Sister are standing here!
Not 2 of them I have the Bottom Channel guy and the Middle Red Line guys here. With others guys like Ichimoku and MACD negative and Stoch RSI Oversold and the Falling Flag pattern . . .
Do you thinks these guys can catch Bitcoin -16.00% and Through him up again? Think about it. . .
Tired yet? That's not all. keep scrolling.
What is the Pinky Guy mean? That is my other little friend and He's very grumpy.
After played inside his pinky room broke out and now he's trying to break into my room! maybe yours, right? But you know, i not the guys easy enough to let's some one get into my room and doing somethings here. I just don't want he get in or somethings that happend!
Enough for silly story, huh?
The Pink Area is represent the opposite forece with the down move broke out. That mean if we can bounce the Bitcoin up, We may get some problems when approached this area. But of course, this pink area more weaker than our force ( Strong Up Move ).
But in the 4 Hours, We can see that at the current, it's seem that the Sellers still give up their ball. This mean we have to patience until he tired. That's the time when we see their holded. Then we can consider to make decision. It's all about time.
This maybe the end of this, I'm not going to deeper. And some words and want to say that " Just don't panic sell". Because if you do this, that will make Sery Effects affected not only to the Bitcoin but also to the other individual Traders like you.
What i can do know is Holding and Not only holding but also looking for the lower price to buy more to.
That everythings I want to say.
Think before doing.
Happy Trading and Take care.