QU1KS1
Master
2
MONTHS
2 2 MONTHS OF SERVICE
LEVEL 1
300 XP
Hello everyone,
Not many will know of me but I'm a Forex trader and a cheeky little chart caught my eye. The value of Bitcoin will affect people on this forum hence why I'm deciding to share my analysis on it's future value.
Now - apologies for the size of the chart but I'll break down what I see.
Price is finishing the formation of a double top price formation which is a price action breakout pattern we traders use to predict sharp changes in price ( usually so we can place positions and profit).
What will happen is - the price of Bitcoin will continue falling at it's current rate all the way down to $3460. Once it passes that level - it's going to decline much faster than we are currently seeing due to the way how market momentum works. The next level of support on the monthly is $1118.67.
My recommendation is that if anyone is holding large amounts of Bitcoin - sell it now.
Also for any newbies who want to get into Forex - opening a small lot size SELL position on BTCUSD and holding it is going to generate a nice bit of passive income for you.
Hope you guys learnt something from this. See you!
Not many will know of me but I'm a Forex trader and a cheeky little chart caught my eye. The value of Bitcoin will affect people on this forum hence why I'm deciding to share my analysis on it's future value.
Now - apologies for the size of the chart but I'll break down what I see.
Price is finishing the formation of a double top price formation which is a price action breakout pattern we traders use to predict sharp changes in price ( usually so we can place positions and profit).
What will happen is - the price of Bitcoin will continue falling at it's current rate all the way down to $3460. Once it passes that level - it's going to decline much faster than we are currently seeing due to the way how market momentum works. The next level of support on the monthly is $1118.67.
My recommendation is that if anyone is holding large amounts of Bitcoin - sell it now.
Also for any newbies who want to get into Forex - opening a small lot size SELL position on BTCUSD and holding it is going to generate a nice bit of passive income for you.
Hope you guys learnt something from this. See you!