Bitcoin Technical Insight by Crypto Kraze | We have started Journey to $24,000

in #bitcoin7 years ago

CryptoKraze here



In this post I am going to cover technical analysis of Bitcoin for medium term trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of Bitcoin.



Possibility on Daily Chart

btc1d.png

In my last post about bitcoin, I have said that correction is almost done. Now I can say with confidance that this correction is finally over and we are ready for next flight to $24,000

Now just have a look at the chart below and note the area in RSI where I marked shark fin. That pattern is associated with reversal. First shark fin appeared when bitcoin dropped from $5000 to $3000 and followed by 150% growth. Second shark fin appeared when bitcoin dropped from $7800 to $5500 and we have seen almost 250% growth.

Now, this 3rd shark fin is in process of forming with recent drop of bitcoin from$19500 to $12000. This sharkfin has formed below 40 level of RSI. So I am expecting 100% growth at least fron this reversal pattern. Ofcorse, there will be some bumps in the journey but mid term destination is above 20K.

*I have already entered at $12,000 as you can see in my previous post about bitcoin and my profit target will be around $22,000 to 24,000.



Have a look on my other Posts

Bitcoin Correction Almost Done - Get Ready for Boom

Averaging Technique in Crypto Trading

Steem in Process to Form A Cup & Handle Pattern on Major Resistance Level

TenxPay Technical Analysis | Symmetrical Triangle about to breakout



If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis



Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose.



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Steem is Unstopable bro Buy now @cryptokraze

Good analysis.
I see Bitcoin at $49,000 in 2 months

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In my idea, bitcoin will rise $20.000 in two weeks.

I just followed you cause your posts seems to be informative post you

can find similar crypto news on my steemit that might be productive

for you too...
@reewy

great article , keep the good work my friend

great post once again @cryptokraze.

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