BTC small RISE and after that DUMP

Hi guys, this is my first chart that I am publishing. We just broke out of ascending triangle and we should move a little more UP, but we are currently in a rising edge formation and we also have a regular BEARISH divergence, which means that we will go DOWN at some point. We have a long term resistance in log scale which we will hit somewhere between 86xx-88xx, depending when we hit it in next few days. In near past BTC had some trouble breaking this 86xx area, so I suppose we will be rejected here, but it broke it few times so it can go little higher and hit 88xx. BUT after all, this is BTC and one say I heard and like to use is "IT HAS MIND OF IT`s OWN", so we can expect EVERYTHING.

I personally have a small LONG trade open and plan to take profit around 86xx and maybe turn into SHORT, if I don`t get stopped out meantime. I DON`T SUGGEST anyone to trade based on MY CHART, I am NEWBIE, this is only MY POINT OF VIEW.

But if you like my TA, feel free to like it and follow me!
Regards!
HAPPY TRADING!

تعليق:

So, I was partially right, as I suggested, we have seen a DUMP, but it came earlier then I thought it will. On the other hand we are hanging now around 8080 where there was some consolidation last few days, so there is still possibility that we see those 86xx or 88xx levels and fall after that even deeper.

I am currently not in any position, I was stopped out and now I am waiting to see where this takes us.

Regards!
HAPPY TRADING!