Will Bitcoin test 9K again?

٣١ أكتوبر ٢٠١٩

Hello crypto friends,

This is a short term idea.

Bitcoin's price action gives us scalping possibilities for the next 1-2 days.

As you can see bottom line of triangle was tested and rejected. Also the price zone of 9400 is a limit order seller's area with a high volume:


Price was rejected exactly in the area of big limit order seller

I'm expecting Bitcoin to test support at 9K again.

What are your thoughts?

What will happen next the price will tell.

This idea is not a financial advise, but you probably know that already ;)

٣١ أكتوبر ٢٠١٩

ملاحظة

What is more, there is a possibility that we are in a descending triangle which usually breaks to the downside:


Bitcoin continues replicating the same triangle on all time frames

٣١ أكتوبر ٢٠١٩

ملاحظة

Just noticed interesting chart pattern.

https://www.tradingview.com/x/TjTwo688/[/mage]
Breaking 9.5K resistance level could potentially lead Bitcoin price to 10K area. This pattern could be replayed similarly on a higher time which might result in growing to 14K area.

٣١ أكتوبر ٢٠١٩

ملاحظة

Breaking 9.5K resistance level could potentially lead Bitcoin price to 10K area. This pattern could be replayed similarly on a higher time which might result in growing to 14K area.

٣١ أكتوبر ٢٠١٩

تم فتح الصفقة

Do you think this bottom will hold?

٣١ أكتوبر ٢٠١٩

تم فتح الصفقة

I'm expecting Bitcoin go to 8.6K area and close CME gap. Slightly increased my short position and moved SL to breakeven.

٣١ أكتوبر ٢٠١٩

ملاحظة

Will Bitcoin hold the 9K area?

٣١ أكتوبر ٢٠١٩

أغلقت الصفقة: تم الوصول للهدف

I will continue posting updates in new idea above.