BTC - Resistance line broken but...
Hello all,
What is the current situation on the Bitcoin ?
Here is the global chart of the BTC with the long term triangle :
You can see on that chart that we broke yesterday the triangle and that we are staying around the resistance line or that we have just a little up.
This little up is my problem... The long term triangle that you can see on the chart should have created a huge break out, a UP or a DOWN break out but huge. Remember what I said to you, the more longer in time is the triangle, the more powerfull will be the break out.
What expect now and what to do ?
Here is the chart that I would like to see in the coming hours to confirm the break out scenario :
We must see a huge break out in the coming hours, breaking easly the $7000 level. I think that this $7000 level could be a nice indicator of the validation of this break out.
If it doesn't happen soon, I'm really thinking that this scenario will happen :
If we don't see a huge break out coming soon, I think we will see a little pause in the UP followed by a massive drop. This kind of pattern is well known by the Technical Analysts and it is called "Head Fake".
Be careful my friends and don't forget to trade with stop to protect your capital !
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. 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 - Ligne de résistance cassé mais...
It's now been 23 hours since this was posted, and Bitcoin is at $7,060. That's approaching what you said you "would like to see" in the coming hours.
This could be the big break-out that you (and we all) were hoping for.
Interesting note: In August, Clif High (on USA Watchdog.com) predicted that bitcoin would reach $13,000 by February 2018. As of today, we're almost halfway there – both in terms of time, and in terms of BTC valuation increase.
This is indeed the confirmation of the break out my friend ;)
Nice to hear. Now it will be very interesting to see if bitcoin reaches $13,000 by Feb 2018. It's definitely within the realm of possibility.
And gold and silver are starting to look quite bullish, too. But they have "price suppression" headwinds to contend with.
Great technicl break down. I love charts helps take out emotions when trading.
Thank you my friend
What is the meaning of "break out?"
Hello a break out is powerfull move (up or down) which follows the break of a resistance line or a support line. Mots of the time you are testing several time a support line or a resistance line before be able to break it and when you finally succeed, it creates a powerful move to confirm the break.
On the chart, you can see it with one or several long candles.
How about resistance and support line. What are those and how to identify them?
Great post @cryptopassion, i would also like to know what you think about Steem right now.
I wish you massive profits also.
Just read my others publications of the day. I talked about Steem some hours ago.
CME having futures contracts will have a huge impact on this. I'm not super experienced with futures, so have no idea how much they will help/hurt BTC, but if nothing else they're making it sound more and more like a legitimate commodity in the marketplace... and that alone can help to drive them up.
I think that the creation of all the "artificial" products around the BTC will make it more difficult to trade for end users like us. It will become like bank trading where big banks are controlling everything
You will never have ANY financial object that exists without that truth. That those with the most of it will control it, and those without the most of it will not. Decentralized or not... give any one person enough of it and they control the market for it.
What we do, or don't do, is just ride their waves and cash in where we can... until we can get controlling interest as well. ;-)
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Ahh...you're a life savior man...That post was helpful enough to understand many things.
I wish......
wit the resistance broken how far can BTC go, looking good for all those who ahve btc