BTC - Back again between the same lines - 2 scenarios

in #bitcoin5 years ago (edited)

Hello all,

We are again back between the same support line and resistance line that I'm drawing to you since last week :

BTCUSD.jpg

What does it mean ? INDECISION

We cannot currently have a trend for the bitcoin. As I explained you last days, we are back in a waiting zone till we break again one of these 2 lines.

What can happen now?
Two main scenarios are possible :

  • We try to break the resistance line (upper blue line) to start a new bull trend on the Bitcoin

BTCUSDUp.jpg

  • We go down and break the 2 support lines, the red one around 3500$ and the second one in blue. Look the pattern if this happens, a beautifull head and shoulders which is a very powerfull sign of bearish trend...

BTCUSDDown.jpg

So yeah my dear followers, we are again in waiting mode till one of these scenarios happens...

Take care all,
Cryptopassion.io

Disclaimer : 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. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Version française ici : [FR] BTC - De retour entre les 2 même lignes - 2 scénarios

CryptoPassion-Bannière.jpg

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great post supporting what i am thinking
upvoted

very informative about BTC trend.

Thank you my friend

Very nice charting skills :)

I am still bearish on bitcoin for the end of 2017, read my latest post, I would like to hear your opinion on it :)

Thank you for the comment. I will have a look on your publications.

I agree. I am trying not to pay a whole lot of attention to what happens in the recent and coming days because what I feel is tons of indecision. Once one of the trends starts to solidify, I will be more interested again! I speculate that we will see another huge rally sometime this winter, which would be exciting indeed!

It is a good decision to sometimes stay outside the market and keep an eye on it. I do it several days quiet often to focus on myself and gain some new energy hehe. Nice decision. Take care of you.

You have some mean skills with charts, I'll refer to you for help in the future!

Advertised you in my last beer tasting blog. I hope it gets you more views and clicks!

Cheers!

Thank you very much for your support.

There are still chinese that have Bitcoins ready to sell. May be they are waiting until the last moment to sell, there is still a week left. So I am not sure, but almost, that Bitcoin will go down again next week. What will happen after that I really don't know, but I bet to find best prices to buy more Bitcoins ;)
Cheers,

I don't really know about the bitcoins from Chinese. I heard important investors moved to Japan so I'm not sure it will have a big impact but let see.

Well, China is the reason why Bitcoin is going down these days. Check this out: http://www.bbc.com/news/business-41320568

Really loving the TA you provide, @cryptopassion. That does indeed look like a classic head and shoulders pattern shaping up...

I think your initial thesis is probably correct - that we might go as low as $2500 or so before we see any new bullish activity. Anything sub-$3k is probably a good re-entry point, but as we saw when bitcoin crashed below $2k earlier this Summer, it might not stay there long!

Thank you for the comment. I hope I help you all to see a little bit more clear, at least when it is possible hehe.
I will for sure start to buy some BTC back under 3K but I will do it in several steps to be sure to don't regret it.

In Japan, the report of encryption currency is almost a negative image.
I think that the price of BTC will rise further in the future, but when thinking in the short term it is impossible to say so.

We are indeed in an indecision period. Take care

I have an image fighting at the forefront of the currency revolution. I am looking forward to the future.

@afukichi, how exactly does the media cover bitcoin in Japan? I'm curious. You mention the coverage is negative, but what are they saying about it specifically?

The horizontal trend will finish. It's a good time to Buy Long BTC.

I'm 50/50 for each scenario currently and waiting again that one of them is executed to start again to trade BTC. I wish you lot of success.

Good Luck too!

I think it'll go up and it's a good opportunity to buy right now. I actually wrote an analysis about why. If someones interested: https://steemit.com/bitcoin/@lumpi/this-week-might-be-perfect-to-buy-bitcoin

Hello @lumpi. Be very carefull honnestly. I don't see any signal now confirming yet a future up trend. Anyway, I wish you lot of success.

Hey @cryptopassion, thanks for the heads up. I am always only buying small amounts and that as long term investments. Do you think Bitcoin is never going to be higher then right now or do you think it's just risky to go for short trades now?

good post, upvote and follow you!

Sir really so nice steemit working, thanks for good sharing

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