opt9

opt9

There are sideways channel and the downward channel. BTCUSD is moving between these 2 channels. I'll take a short position at the short line #1 or the short line 2 and take a long position at the long line #1 or the long line #2. This is just my personal trading plan and not a financial advice. Please do your own research.

opt9

small twins - big twins - 1st drop - double bottom is the basic structure. it seems to be that weekly 50, 100, 200, 365 EMA play the important role. please check the RSI weekly, too. If we compare this chart with BTC vs. DXY chart, we can get some interesting insight for the long term BTC trend.

opt9

Coincidentally, the long term price trend of BTC and DXY shows the inverse correlation. But, it is not strict and they move along sometimes. the current situation of BTC and DXY price is similar to it at 2Q, 2018. Interesting.

opt9 Updated 

the chart says all. Added small twins before the rally.

opt9

the current EMA 50, 100, 200 structure and locations are similar to 21-Oct-2019. Please watch out.

opt9

It's a descending triangle. the bottom of the triangle: 31,000 the angle: -15°

opt9

1st failed attempt -> down to the green line -> reversal to the upper green line -> down to the channel bottom 2nd failed attempt -> down to the yellow line -> reversal to the upper yellow line -> down to the channel center 3rd failed attempt -> down to the green line -> reversal to the upper yellow line (or the green line?) -> down to where? (at least to the...

opt9

BTCUSDT is inside the down trend channel. it's moving between the upper range zone and the lower range zone. Currently, it is located at the middle line. If it bounce from the middle line, we can do a long, but if it fails to bounce, we can do a short until the bottom line.

opt9 Updated 

updated double bottom related comment

opt9

the chart says all.

opt9

Feb-25-2014 is the most similar to the current. If the history repeat itself, we'll experience a small drop, a meaningful rebounce and more huge down trend.

opt9

BTC forms triangle inside the triangle.

opt9

the market is hard to predict now. please watch out.

opt9

BTC is inside the steep descending channel and tries to come back to the base channel. the bottom line of the base channel and the top line of the descending channel meet at 37,806. BTC tries to break out this cross point. If it can break out, we could see the trend reversal. If it can't, there would a huge drop down.

opt9

Coincidently, the movement of BTC in this weekend is similar to that of the last weekend. Does it mean that there would be the 3rd attempt? who knows? BTC is inside the down trend channel and this long-short setup works as expected. Please watch out. we'll need the tight stop-loss for the long and the short.

opt9

With parallel channels, i counted this wave as the wave B.

opt9

It seems to be symmetrical triangles. Based on my counting, this wave would be the wave B.

opt9

BTCUSDT is inside the down trend channel, but it's bullish temporarily. This is the typical move of BTCUSDT There could be the 3rd attempt. 40 ~ 41k would be the good short entry point but, plz watch out. it could go to 42 ~ 44k.