Short

Updated

Update on BTC

A quick update on my long term idea. I've extended the Gann square a bit + making the arcs aligned with the lower points (marked with green circles).

This gives the target: 4280$

When: 19. July.

Good luck!

Note

I think the drop is starting right now!

Note

Fasle alarm:P

Note

Note

GANN SQUARE Reversed on BTCUSD (Bitstamp)

Note

Looks like a break out this time.

Note

I've moved the arc a bit, making sure that those with green circles are aligned with the arcs. This gives us a pretty critical moment of the next step. If it breaks the blue arc, it will easily go down to the originally target (main target). But (!) if the blue arcs makes it bounce clearly then I'm not that sure any longer. The result will appear the next days I think:)

Note

The idea "A bearish idea on BTCUSD" could be the game changer - I'm whatcing that on closely from now on.

In other words I think we are getting close to the bottom.

Note

A close-up on the current situation, as I mentioned:

Note

Jrdelane gave me this clue: H @ S pattern inverted.

I give it 8-9 days from now on.

Note

Possible next move?

Note

Just hit the bottom line, more or less. Small pullback and then breaking through??

Note

Descending triangle potential done:

Note

It shouldn't break through 6130, this is where the right shoulder stops.

Also, it has broken through the arc I mentioned earlier. It still has one more arc to go.

Note

Another bearish pattern seems to be established. Kind of critial right now(!)

Note

The bearish triangle pattern got a bit wider. And it is not looking good right now. It bounced the first attempt to drop.

Note

In the other hand, the new level makes a strong support if it holds (the rising wedge is now completed). It is now or never.

Note

... and it manage to hold the right shoulder this time. The rising wedge potential is completed.

I've been adding some zones that I think are critical. Lets see what happens next.

Note

Okay, I'm long at the moment! Here is why:

- It made it through the "buy zone"
- It is making its path along the right shoulder perfect right now.
- I'm sure it will complete the head & shoulders pattern with ease.
- And the final one: It broke through the vertical arc I've been whatchin lately.

Note

Here is a bigger picture of the Gann arc I've been whatching lately. Look how the 1.618 length is perfect placed right now.

Note

Here is my latest idea on BTCUSD:

Steffro

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Steffro