Crypto Screener Forums Bitcoin (BTC) Forecast – Technical Analysis Bitcoin (BTC) Technical Analysis – November 2017 Reply To: Bitcoin (BTC) Technical Analysis – November 2017

#836
AndreSnyman
AndreSnyman
Participant

My first chart did not post on the website.

Btc made a great move to an all time high at $7400, then retraced sharply to $6700. At this moment btc is trading between $6800 and $7100. It looks as if it is breaking up again at the moment.  First level to look out for is $6800-$6920 then $6640. This is my new stop loss for my long trade. I will look at price action at $6640 to see what we will be doing with our long position.

Btc is trading in a range at $6800-$7100, it is good for a market to trade up and down and not just move up in one candle

Remember no one knows exactly where the top is, we need to trade the charts and look at the trend. The trend is still up, someone will be lucky to get the exact top of bitcoin, this will happen 2% of the time. I am looking at fib extensions for possible tops and will see what the charts say at my profit level of $8200 then $9800! The short term charts showed divergence at $7100 and also at $5800, if we followed them we would not have been making this extra $1300 profit. Stay long until proven wrong!

Support $6800-6920, $6640 and $6380(the top of the blue channel where btc broke)

Phillipians 4:19 : But my God shall supply all my need according to his riches in glory by Christ Jesus.

  • This reply was modified 1 year, 6 months ago by AndreSnyman AndreSnyman.