BTC - Down Trend line should best tested soon - Update

in steem •  7 years ago 

Hello all,

Yesterday, I was showing you this chart :

BTCUSD.jpg

Here is the current chart :

BTCUSD.jpg

As you can see, the scenario that I drawed you yesterday in green has been done.

We are now testing the downtrend line on the BTC and if we want that the BTC starts again a new nice UP, we need to break it with volume ! Let's see what will happen in the coming hours but if we are not able to break it correctly, the DROP could come back very quickly and very powerfully.

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.

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It need to go further down before up again

Since wall-street is in, I have a bad feeling...

Great!It will help us to win!We should now keep the cryptocurrency Hold.
Steam is moving us upwards.Thanks for the articles.@cryptopassion
giphy.gif

  ·  7 years ago (edited)

Tub Cat does not enjoy a declining BTC price but respects your daily analysis. Thank you for providing this in depth analysis and thank you for continuing to provide good quality content for Steemit. As a result, Tub Cat has pushed the green squishy upwards pointing arrow thingy in support of your post.

Tub Cat's mission is to encourage good quality content and discourage those who post poor quality content.

Keep up the great work!

Tub-Cat.jpg

look like it starting to play on the positive side of things, currently at $11000 and its been green all day , lets hope the climb continues

  ·  7 years ago (edited)

Hm, the big guys will do anything they want, drawing lines won't tell you what they want to do ;) anyway tip! hide

  ·  7 years ago (edited)

We may well break that downtrend line, but the real challenge is breaking the upper line of the big wedge - and I suspect that will not happen before mid February, as insecurity is in the air and volume is lacking.
If you look at volume, it's lurking in the background to jump in and then flee again at the first hint of a downward trend...
People are nervous, that's what causes a bear market.
Trends aren't looking bad at all, but spirit is feeble, just look at the Moving Average... nobody wants to be first.

downtrend.png

Great guide for those who want to invest in cryto trading.

I do not usually see the btc. I do not completely understand

Thanks to you discuss here this important matter, Good job dear. Well done . Is there any connection to decrease btc and sbd ?

I really like your post, usually these technical analysis in crypto tend to be really long and boring. Yours was short and it made sense for me at least.

Do you think that technical analysis is that effective in crypto markets as it is in forex markets for example? I strongly believe the Technical analysis tens to be succesful on the markets where the majority of traders are adults in the market, not like what we see in crypto markets.

I would really appreciate your reply and thank you for sharing this. I will follow you for more! 👍

I have a bad feeling.

I gave up trying to predict what bitcoin will do. The media seems happy when it falls

awesome buddy!!! thanks for sharing :)

Hope increase in upcoming hours

Thanks dear discuss about the cyptocurrance ..I always see your bLog.and waiting your update post .

I really need this kind of information, in time to come more du in need

i really like your post and i enjoy it very with all your post. thanks for solid suggestion.

Wow....thats so kind of you

As a trader, I recommend you the trading platform Bitfinex
10% discount on your trading fees for 1 month via this link

I would do just that

Why Wow, what is so amazing??

lol I agree 10% is cool but not quite AMAZING!

thanks for good post

This is good for crypto currency business

what you think about the price of bitcoin in a few months? If lightning can be implented succesfully it will raise to 30.000 and higher I think...

wow this is a very useful information thanks for this piece of information and also the advice i will check em out

eèemmm...what do you think...what happen for BTC in the next time friend...

Correction, maybe?

Thank you for your daily update!
What do you think of the int token?

Thanks for the update, it does appear still within the downtrend like you said. I think a break out above $13k resistance and hold above that price would confirm the downtrend is over.

See chart below
25th btc.png

Good luck with your trading

Wonderful analysis buddy. Hope bitcoin starts its upward journey soon. It has corrected almost 50 percent from the highs. Regards Nainaz
#thealliance

Always wise analysis, keep it up ! Bitcoin and the cryptocurrency world are here to stay. Well Bitcoin may be replaced, but not soon. There is still time. I enjoy that type of graph analysis, I tend to try making big profit with altcoins which have more room to grow up. I often post about promising new coins if you like that kind of stuff.

Though these are effective in our trading we should also combine in it our psychology and always read accurate news. So that our trading will always sure win. Always remember what they author said " Do not invest more than you can afford to lose."