Three upper zones in Bitcoin weekly
From the plains of 2014, we have ventured into 2015 and won many battles in 2016, thusly rocked and rolled 2017, and survived 2018 thereafter. My dear friends, you should know that you don't need complex indicators or sophisticated prophecies to make money in this market. You just need to stop imposing your own reflection onto it and listen to it in its own right, or just follow my ideas and I'll tell you when to buy--JK, anyways. You see three price zones in the chart. The Hype Zone and the Congestion Zone are named because of the price history, and those names do not indicate anything predictive. The name Zone I is inherited from the monthly chart (see the attached ideas for the monthly outlook).
Now, the triangle in the Congestion Zone was broken by the big red November candle, and it was indeed a one-week strong momentum action after a relatively much longer stretching. Thus, judging from this much of information, one would have a bearish bias. Luckily enough, we have a nice little textbook consolidation after November, the one which we should have a closer look at.
Follow me for further explorations into the Bitcoin chart. Now, this is the third post since I returned to TV. I'm just getting used to the platform again. These will be followed by more practical analyses and maybe even trade setups. Don't forget to give it a thumbs up. See you in the next post.
Now, the triangle in the Congestion Zone was broken by the big red November candle, and it was indeed a one-week strong momentum action after a relatively much longer stretching. Thus, judging from this much of information, one would have a bearish bias. Luckily enough, we have a nice little textbook consolidation after November, the one which we should have a closer look at.
Follow me for further explorations into the Bitcoin chart. Now, this is the third post since I returned to TV. I'm just getting used to the platform again. These will be followed by more practical analyses and maybe even trade setups. Don't forget to give it a thumbs up. See you in the next post.
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