Bitcoin - The Situation
Updated
Well well well our last trade was a huge success, now I am looking at the big picture and trying to figure out what could happen next. Now btc is trying to hold a bullish line back from years ago (See green line on chart) if this line breaks down I have little hope for a bullish move until 3-4k. Fractals and ALOT of TA is saying 3k SHOULD be huge support zone, so if we manage to go there it's an obvious buy with risk/reward on your side. I marked the best buy zone on my chart, note that closer to 3k is the best buy. If the current line holds it has great potential for 5k target (risky trade unless you got bellow 4.5k entry with a sl), personally I am waiting for market to show more clear signs. Only trade current line if you can babysit your position all day long. No need to rush to buy, weekly RSI is hinting that we will be here for a long time (3k-6k) Have a nice day!
NOTE: This idea follows Bitfinex price.
NOTE: This idea follows Bitfinex price.
Note
Woah that was quick it hit the 5k target after holding the line, beautiful :)Note
Major buy zone hit after the line broke. Have capital ready for buying in this zone! We are hoping for bellow 3.5k on bitfinex to buy.Trade active
BUY BITCOIN NOW BELLOW 3.4k! ENJOY :)Note
Bounced on 3.3k on bitfinex let's see what pattern forms over the next coming days.Note
Formed double bottom and reached 3.8k! Well done to those who followed my call and got in bellow 3.4k on bitfinex price.Note
I would like to remind you that 3k is really important for bulls to hold. If we start to trade bellow 3k for days then 1.3k is a possible scenario which you need to be ready for. /NirlandNote
Bitcoin is currently trading in a decending channel on daily, buy the bottoms and sell the tops.Note
Broke out huge from that channel, congrats to those who got in on breakout.Note
Bulls failed to breakout 4.2k, abandon longs for now and only buy again if price gets above 4k. Huge volume confirmed this down move for now. This can possibly get really ugly for bulls.
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