TATCH 👻 TRADING ANALYSIS: [BTC] Bitcoin Price Action recap'

in #bitcoin6 years ago (edited)

Hi !

Follow-up on #Bitcoin from last week: https://steemit.com/bitcoin/@tatchcapital/tatch-trading-analysis-btc-quick-pips-long-before-trapping-zone

Price Action

#Price did went close to 12k$ before ending the first leg of the 2 legs from the correction of the previous (bearish) #wedge and setting up a #channel (orange trading range).
Capture d’écran 2018-02-26 à 22.35.36.png

Plan

Plan is to look for "traps" at levels of interest, namely 13k$ and 14k$ as well as a possible channel (orange) overshoot.
By reaching those levels price will make a #breakout of a large bearish downtrend (blue line).
Price will then be set to go back in #downtrend once enough longs will have been trapped and shorts squeezed.
Capture d’écran 2018-02-27 à 18.09.52.png

Targets

  • Long-term didn't changed: 5555$ or 5500$ are good
  • mid-term any significant level between 10k and 9k$
  • short-term: it's possible to take some quick long continuation pattern at every failed red candle (H1); yet it's important to have tight SL and at least a 1,5:1 Risk/reward ratio.

Don't hesitate to join us on Telegram, upvote, share and ask questions in comment section.

Much love

Cédric

Tatch Capital Limited

https://TatchCapital.Com

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All disclaimers and common sense apply.
No advise, just personal commentary.
"Never go full retard".

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