Hi Cherif, if you are reading this :)
I have been studying the basics of TA for some time and I tried to just throw myself in the deep with this analysis.
I'd like to hear your thoughts on this to help me learn everything about TA.
What I think: BTC seems to be closing this wedge since Feb 2018. It has 3 tops and 3 bottoms so this should confirm the trend.
According to this wedge/trend, BTC faces a resistance around 7200-7300 USD.
If BTC would to break that resistance it will pump upwards upto next resistance, which I havent checked for.
If it does not break the resistance, BTC can go down to retest 5K USD support level and enter a NO-BUY zone.
From there it could break through support or hold up and go for another wave.
This is what I think. I'd like to hear your thoughts on my thinking, to help me improve myself!
Thanks in advance my friend! :)
I have been studying the basics of TA for some time and I tried to just throw myself in the deep with this analysis.
I'd like to hear your thoughts on this to help me learn everything about TA.
What I think: BTC seems to be closing this wedge since Feb 2018. It has 3 tops and 3 bottoms so this should confirm the trend.
According to this wedge/trend, BTC faces a resistance around 7200-7300 USD.
If BTC would to break that resistance it will pump upwards upto next resistance, which I havent checked for.
If it does not break the resistance, BTC can go down to retest 5K USD support level and enter a NO-BUY zone.
From there it could break through support or hold up and go for another wave.
This is what I think. I'd like to hear your thoughts on my thinking, to help me improve myself!
Thanks in advance my friend! :)