#Bitcoin Technical Trading Analysis - $60 000 Out of the Wedge & back in the Bull Market! #Leofinance #Techanalysis

in LeoFinancelast month
Bitcoin Technical Trading Analysis - 15 Oct 2021

Please note that the following is my opinion and not financial advice.

Bitcoin 15 Aug 2021.jpg
[Above] The Bitcoin 1 Day Graph. Note how BTC has broken early from the larger Green wedge.

Well all my talk of "trade safely" and "not being afraid to take profits" has backfired a bit. Bitcoin has risen 33% in one month, breaking a lot of the previous resistance points on our graph. The Red lines on the #techanalysis above are resistance points, while the green descending lines will also act as resistance to a rising #Bitcoin price. Once we have broken the zones of resistance properly, they become #Support levels. Good times indeed.

While everyone likes to say "I told you so" after the fact, I did predict a week ago that a large breakout was likely to occur :
" As we near the front of the #WedgeFormation, near the 'Safe Zone - $44,800', it becomes more and more likely that a #breakout will occur. The #bitcoin price is likely to see a massive Up or Down trend in the next few weeks... "

My #Bitcoin Technical Trading Analysis - 8 October 2021


Below is a cropped screengrab of my Graph. Do you agree with my #Market Top and Market Bottom?

Bitcoin 15 Aug 2021 2.jpg

Last thought, although a very important one : There is still a chance that we could get pushed back into the Green Wedge! This #Breakout was early, in my opinion and we must always prepare to #HODL through the dips, or take profits and buy at a lower price.

It doesn't matter which #altcoins you trade in, every cryptocurrency reacts to the Bitcoin graph, more often than not following Bitcoin as it goes up...or down. Trade safely, and if you're not sure what to do, do nothing!


THE END

#THG #Techanalysis @leofinance @doomz #oneup @oneup #leofinance @russia-btc @pishio @vote-up @ultm8xgaming @lunny @darkflame #pizza @pizza-engine #leofinance @tipu @oneup #oneup @tedus #Splintertalk @Splintertalk


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Email : [email protected] | [email protected]

Posted Using LeoFinance Beta

Posted Using LeoFinance Beta

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