A Bullish Pattern is formed in Bitcoin daily chart

in #cryptocurrency4 years ago (edited)

steem2.JPG

Midterm:-
. While the price is above the support 6000.00, resumption of uptrend is expected.
. We make sure when the resistance at 9774.80 breaks.
. If the support at 6000.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
.While the RSI support #1 at 30 is not broken, the probability of price decrease would be too low.
. The RSI downtrend #2 is broken, so the probability of a resumption of uptrend is increased.
. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
. Relative strength index ( RSI ) is 41.
. A "Bullish Engulfing Pattern" is formed in the daily chart at 7469.45 on 05/29/2018, so the probability of beginning of uptrend is increased.

Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (6974.35 to 6000.00). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

Beginning of entry zone (6974.35)
Ending of entry zone (6000.00)

Take Profits:
TP1= @ 7556.25
TP2= @ 8180.60
TP3= @ 9051.90
TP4= @ 9774.80
TP5= @ 11600.00
TP6= @ 12750.00
TP7= @ 15308.00
TP8= @ 17095.65
TP9= @ 19704.20
TP10= Free

Trade Setup:
We opened 10 BUY trade(s) @ 6715.85 based on 'Hammer' entry method at 2018.04.01

stee3.png

Total Profit: 1181981 pip
Closed trade(s): 770015 pip Profit
Open trade(s): 411966 pip Profit

Closed Profit:
TP1 @ 7556.25 touched at 2018.04.12 with 84040 pip Profit.
TP2 @ 8180.60 touched at 2018.04.15 with 146475 pip Profit.
TP3 @ 9051.90 touched at 2018.04.24 with 233605 pip Profit.
TP4 @ 9774.80 touched at 2018.05.05 with 305895 pip Profit.
84040 + 146475 + 233605 + 305895 = 770015 pip

Open Profit:
Profit for one trade is 7402.46(current price) - 6715.85(open price) = 68661 pip
6 trade(s) still open, therefore total profit for open trade(s) is 68661 x 6 = 411966 pip

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Quite good movement

@amit994 i think bull gng to back soon wht u think??

Definitely

@amit994 great analysis but what do you think btc price will once come down before bull run or just go up only

WOW Amit..fantastic..do you provide signals over telegram etc

nope..i will post here only

i Dont think so....i think btc going more down??

What do you think that bitcoin price will increase within july 19,2018?because court decession will comes in our way..also if court declare another date of hearing then this may be another unease to us because banks will not open virtual currency trading..

@amit994
is bitcoin goes to again at $20000 and above.?

Well looking to the chart the price will rise.20180314_124901.jpg

@amit994 Basically this chart analysis can be used to create your trading plan in advance.

your analysis is true to some extent...

@amit994 explained very well about BTC with the help of chart

bro can u do some upvotes?

Why is the price of bitcoin fell so low in your wish, bitcoin is still up

@amit994 i think it repeated 2015.
i am long term trader so can i wait for $15000 ?

@amit994 what do u think for coming month?
Btc will rise in July?

It should..But anything can happen

i am waiting bullrun..

i upvote please follow me and upvote me

Waiting for bull run hope it will come soon and bring happiness for all the cryptolovers!!!!

we all wanted to hear this

what do you think , how long we should hold our bitcoin?
and do also make a blog on eth ,what will you think about eth this year price?

You got a 6.72% upvote from @brupvoter courtesy of @amit994!

good information......now hope for sure to grow again ......hope to end our vacation .....waiting for btc to break ath last dec 2017

Great bhai your are great.....very helpful post...

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do not go to technical its all about sentiments once will improve the sentiments then market surely in uptrend.

So this is the time gather as much bitcoin as you can

@amit994 despite your bullish pattern there a chance that BTC trend can dip below $5000.thts when the real bullish market will start ,that's where institutional investors going to join.keep it up with your charts ,excellent work.

@amit994 you have explained in a very mannerful way with these charts.. but no one can predict when bitcoin will rise?

@amit994 great analysis and quality content

Very well written and good understanding abot market.

This post has received a 63.82 % upvote from @boomerang.

i think bitcoin will definitely goes up in upcoming days

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@amit994 Is it right to withdraw money in the cryptoconcity market? I have 3 bitcoins.

nope. you should hold if you want profit

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your technical analyses may be right but still bitcoin kneed cross 46 level as per RSI index so my suggestion to Steemians be carefully invest in crypto currency

@amit994 what could be the peak point of Bitcoin within this july month ?
Please comment ,appreciate it .

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i think btc come back in bullish and i think its hit 10,000$ en of aug ?

Hope you're right, man!

I think the price of bitcoin probably will go on his highest rate at the end of this year.

I have upvote and comment on your post please doo the same for me

Is this bitcoin's bullish or up trend ?

This post has received a 27.83 % upvote from @booster thanks to: @amit994.

@amit994 will bitcoin going to the moon in end of december?

u r doing well bro

Good analysis buddy

I do not think bull run will be coming before 2019 feb, as many countries want to put regulations on bitcoin till that time we have to wait for the bull run. for more information you can read this :-https://steemit.com/mgsc/@yogesh.aggarwal/why-we-can-expect-crypto-will-go-down-further

NOW TREND IS CORRECTION......JULY END SEE THE UPTREND

Good to see uptrend in BTC price once again , but do you think chart analysis can actually predict ! or just show us trends, I think news and big buying volumes can sustain uptrend
I have almost zero knowledge about chart analysis or prediction , so these are just questions to gain more knowledge from your reply, a sustainable Uptrend is important for many like me who are really in bad position , as no more money to utilize this downtime with me /us

I vote for you, you vote for me. I like your post, your post is very good.

thank you reward for my

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