BITCOIN | A Possible Short-term BUY Opportunity!

Тема в разделе "Трейдинг (общий раздел)", создана пользователем Trading Ideas, 3 окт 2019.

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    BITCOIN | A Possible Short-term BUY Opportunity!
    BTC/USD COINBASE:BTCUSD
    VaidoVeek
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    Hi,

    Bitcoin's price has drifted around $8,000 approximately a week. Some bounces here, some bounces there but nothing significant.
    If you have read my previous BTC analysis then you know that this area is capable to produce some reversal.

    Today's price action is pretty interesting and it has started to show something and the price action has started to show a buying opportunity.

    Let's jump straight to the action and I would like to count those criteria, which can move the price a bit higher:
    1. The channel projection, really clean and healthy throwback, inside the channel.
    2. AB=CD , nice and clean waves
    3. The round number ($8,000) should act as a support level .
    4. Previously worked support and resistance area (orange horizontal line)
    5. Fibonacci golden ratio - 62%. Matching exactly with the previous criteria
    6. Fibonacci Extension
    7. A few days ago we got a bullish Engulfing from the Daily timeframe around the 8k. It is still valid and it will support that current move upwards.
    8. We have a bit sloppy Double Bottom chart pattern which also should support that current buy opportunity.
    9. Wait for a bullish candlestick pattern formation around the marked green area - 1H or 4H.

    If it was helpful then take a second and support my effort by hitting the "LIKE" button, it is my only fee from You!

    Best regards,
    Vaido
     
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