Sharing my first BTC chart analysis.
Hello Trading View, this is my first chart for BTC and i want to share with you my thoughts on it through my idea.
- So to begin with on 19/Sep until 25/Oct, BTC was traiding lower than the big main support line which was holding on from the beggining(YEAR-2013). (WHITE LINE)
- On 26/Oct BTC was already above the WHITE LINE and now is still trading above it.
My though here is that this WHITE LINE is very important for BTC and despite the negative news around the world BTC clearly showed that it wanted to stay above it.
If this is the scenario then i believe that it will continue to trade sideways with some fake break outs under the WHITE LINE and by the time that will reach the GREEN LINE it will go on higher trading levels because of the bullish break out that it will have. (AS I DRAW WITH WITH WHITE PENCIL-ARROW)
I know that negative news are coming but Bitcoin always likes to suprice everyone. For long term investment i believe its a good time to DCA some BTC.
Thank you for taking time to read this.
Please feel free to comment down i really want to hear your thoughts on this.
Best Regards,
Christian
- So to begin with on 19/Sep until 25/Oct, BTC was traiding lower than the big main support line which was holding on from the beggining(YEAR-2013). (WHITE LINE)
- On 26/Oct BTC was already above the WHITE LINE and now is still trading above it.
My though here is that this WHITE LINE is very important for BTC and despite the negative news around the world BTC clearly showed that it wanted to stay above it.
If this is the scenario then i believe that it will continue to trade sideways with some fake break outs under the WHITE LINE and by the time that will reach the GREEN LINE it will go on higher trading levels because of the bullish break out that it will have. (AS I DRAW WITH WITH WHITE PENCIL-ARROW)
I know that negative news are coming but Bitcoin always likes to suprice everyone. For long term investment i believe its a good time to DCA some BTC.
Thank you for taking time to read this.
Please feel free to comment down i really want to hear your thoughts on this.
Best Regards,
Christian
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