Hello My Dear Friends and Followers! :)
We are back again with the always interesting Bitcoin! We are this time taking a look at the 1D BTCUSD Chart! But before we go on, I'll just say, that I'm really happy today, and you know why? The reason I'm here on TradingView is to help other people. Yesterday I got this message in our private forum:
I just want to give a big shoutout to D4rkEnergY and xxxxx for all of their help so far! I lost 25k in crypto before I came here, but now I have made nearly 20K back! Thanks so much for all of your help guys. It's been a great month and I can't wait for another 11 more months with you all! We got a great crypto family here guys!!
xxxxxx
Wow! :)
But now back to the chart. I told you again and again, NOT to enter a trade. There was too much uncertainty. I told you ONLY to get long if we broke above 9,500 USD.
Once again, and I will keep saying it, so people will understand it: We can have all the ideas we want, but it is only ideas and possible scenarios - so if we don't get confirmation on the idea, and as long as we DO NOT trade them, we will NOT lose money. Remember that, guys :)
So not long time ago, we fell out of the channel. This time we didn't see one of those spikes we have seen the last couple of weeks, which kept us moving forward. So now what? As you can see, we are now caught in an descending triangle, which is a bearish pattern. I think we most likely will fall through eventually. We get a bit of support from the EMA100, but if we take a look at the MACD, you can see a bearish MACD-cross is about to happen, and the histogram shows clear signs of bulls losing momentum.
Furthermore. Please pay attention to the RSI. We are once again under golden LEVEL 60, which acts as huge resistance. Expect therefore that we will go the green box around 8,724-8,600. We here have HUGE support. In this area we both have Fibonacci Level 61,8 %, EMA 50 AND EMA200.
Our 10,800 USD scenario is still in play, but we HAVE to bounce from this level and follow the blue Elliott Waves.
This green area is a SUPER IMPORTANT level. If we also fall through here will probably drop down to our next big support level at 8,200 USD,where the upper up trendline also give us further support.
It's very important to be aware of these support and resistance levels, my friends. As you can see, that we need to go above 11,700 USD before we are in a real bull market. On the other hand if we fall through 7,200 USD, I think we will see a crash to under 5k USD.
But let's take a step at a time. For now expect we will go to the green box. I'll promise to keep you updated as always! :)
D4 Loves You <3
And to all my followers, who appreciate the work I do for you every day, I hope you will give me a like. Thanks a lot, my friend :)