BTC - Correction should take place now
Hello all,
Yesterday I traced you a triangle that has been broken :
As you can see, we first broke it with a UP and we consolidated around the upper line (first green circle), after that, we used the upper line to make a bigger UP (second green circle) and now we are dropping.
Why are we dropping? Because we had a pattern called "double top" and we failed to make a new high. The double top is a bearish signal which was immediate as you can see now the result. We should now have a correction on the BTC. I don't see any important support line before the one around $5050 (bottom blue line) so let's see how powerfull the correct will be.
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 - Une correction devrait se mettre en place
I think small correction is necessary for further up move. After breaking 5000 resistance it has shown very strong uptrend. Now 5000 is the strong support for bitcoin.
The small correction IS needed, it has to go down to find support, and gain momentum. Like @cryptopassion wrote, it broke out of the triangle, and furthermore it did this under heavily declining volume. Bitcoin could be interesting as soon as it gains momentum.
Secondly, it seems like the bitcoin profits went into Litecoin...
thanks man! what is most useful above i felt personally in ur post is what u said ...
"never invest more than what u can effor to lose"
people should take care of their money and invest carefully
thanks for sharing
Thanks for information.
@cryptopassion Well done for sticking at it! Followed.
Nice time to accumulate funds for the next investment, I think it can go even 4900-4800 this time
This means that the crypto steem will disappear or its value will decrease natively? it should not reach high potential.
where do we anticipate that bitcoin cost will head amid the up and coming week?
nice post...even your all post just awsome.. I think you will be a famous steemer....
Coucou @cryptopassion ! Je ne penses pas que le tag #fr soit approprier. Le post est à 98% en anglais.
Merci tout de même pour tes analyses !