Bitcoin Prediction 4 Hour Chart "Bullish Flag"

KimmyF

sr. member

Activity: 978

Merit: 250

Quote from: Pipjaeger on May 02, 2020, 03:10:49 AM

Hello guys, i want to share with you my Idea for the 4 Hour Chart:

https://www.tradingview.com/x/1xwx38b8/

I always say to my students to check the next Higher Timeframe for me here it is the Daily:

https://www.tradingview.com/x/VnDjQhcR/

BUT

Keep in Mind on the Weekly we are perfect at the SMA50 Resistance see here:
https://www.tradingview.com/x/cC16LEsd/

Always wait for a confirmation Breakout ! Dont Trade Patterns in while they are building !

________________________
Join my Telegram Group if you want its for Free i share my Charts and Analysis:
t.me/tradingjournalcrypto

Actually Bitcoin supply wasn't decrease that price should up. Until finish halving I can't predict any coin price. But I assuming from last two halving history, price will be equal or flat until this year finish. Price could little high for different rumors. We can't see real pump until Bitcoin deficiency in the market. Next 6 months could be this time to up Bitcoin price.

timmmers

sr. member

Activity: 1176

Merit: 265

In one month Bitcoin achieved +5000USD profit and you still think that it will continue grow? What about some healthy correction? Because this grow wasn´t healthy, it was based almost on nothing! Same situation we see on stock market - growing without any rational reason - but for how long. Roll Eyes

darewaller

hero member

Activity: 2926

Merit: 640

Well, it is definitely a short bottom that we might reach if it goes down, however this is bitcoin so never underestimate how much it could drop when it does. None of this means that bitcoin can't be 6k tomorrow, I am not expecting it to be honestly, however it has the potential to do it, there is nothing technically that can stop it from it. Plus that is a big "if" situation as well, not really something that "will" happen but it is more like "if" x happens "then" y will happen situation so there is really no point of this.

Best case scenario if you see bitcoin going under 8.3k, put your sell order at 8.2k and rebuy at 8k, might help you gain a bit more bitcoin, not a whole lot but at least it is a bit helpful situation that is tiny bit good, or a lot good if you do leverage trading.

gantez

full member

Activity: 1736

Merit: 121

Quote from: jago25_98 on May 02, 2020, 08:40:22 AM

Nice chart. The great spot on the Bullish Flag.
This price right now seems due for a correction. There will be inefficient miners dropping offline. I can imagine they are ready to cash out.
You can see that price is flattening at the moment and volume is extremely low. I think there's a big move coming soon Source: https://youtu.be/VV3JFhmy7U4

I see that the speculation for correction keep coming. Maybe the volume drop can just be a signal but I don't expect a major drop from the correction. Price will come back bull even where the drop take place. I'm hodling for the time now.

jago25_98

hero member

Activity: 900

Merit: 1000

Crypto Geek

Nice chart. The great spot on the Bullish Flag.
This price right now seems due for a correction. There will be inefficient miners dropping offline. I can imagine they are ready to cash out.
You can see that price is flattening at the moment and volume is extremely low. I think there's a big move coming soon Source: https://youtu.be/VV3JFhmy7U4

Sadlife

sr. member

Activity: 1400

Merit: 269

Quote from: Pipjaeger on May 02, 2020, 03:10:49 AM

Always wait for a confirmation Breakout ! Dont Trade Patterns in while they are building !

One of the best advice in my opinion because many got rekt by buying in a position that is about to breakout and rely it in chance that it might go their way but most often times, it's not.
Even me learned from this the hard way but the problem with this strategy is you need timing or less you'll the train to profit.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: Pipjaeger on May 02, 2020, 03:10:49 AM

Hello guys, i want to share with you my Idea for the 4 Hour Chart:

https://www.tradingview.com/x/1xwx38b8/

I always say to my students to check the next Higher Timeframe for me here it is the Daily:

https://www.tradingview.com/x/VnDjQhcR/

So if the market keeps selling below the $8,300 level, you expect it to find support at the 200-day MA ~$8K? That seems reasonable for a local bottom, though I could see much lower.

I'm neutral on the current consolidation, need to let it build out. I think bulls got spooked by the drop in the stock market yesterday. If the bottom falls out of the stock market next week, I expect BTC to follow.

Potential areas of interest in that case are the daily S1 pivot ($6,600s) and the 0.618 retracement ($6K):

Pipjaeger

newbie

Activity: 25

Merit: 1

Hello guys, i want to share with you my Idea for the 4 Hour Chart:

https://www.tradingview.com/x/1xwx38b8/

I always say to my students to check the next Higher Timeframe for me here it is the Daily:

https://www.tradingview.com/x/VnDjQhcR/

BUT

Keep in Mind on the Weekly we are perfect at the SMA50 Resistance see here:
https://www.tradingview.com/x/cC16LEsd/

Always wait for a confirmation Breakout ! Dont Trade Patterns in while they are building !

________________________
Join my Telegram Group if you want its for Free i share my Charts and Analysis:
t.me/tradingjournalcrypto

Topic: Bitcoin Prediction 4 Hour Chart "Bullish Flag" (Read 156 times)