Bitcon 8800$ rebuy, wait 11500, SELL. 30% PROFIT
Updated
Bitcoin had no single correction so far as trying to breach 10500 resistance line, starting "run" from 8800 and forming triple top (maybe quad as well) which is absolutely one of the bearish indicators.
As obviously having problems to handle with 10500$ resistance and pumped 200-300$ over, trying to "leave an impression" of being absolutely bullish by any indicator , even pumped it could not break it (since the "guys" doing this pump won't be spending their money only), they are counting and relying on other traders to "bait" after (apparently) normal rebounce in "bullish" environment (this is not bullish, since we are still in bear market, this is bullish short therm run which will end up falling only).
Line of this (artificial) trend has been placed 2500$ higher then in "regular" (normal) scenario (probably because of % gained during swings) as trying to "persuade and deceive" people in order to "accumulate" more, so it could have more strenght for rebounce to 11,500$ (maybe even 12.000$), but certanly not far from that which will CERTANLY END UP FALLING.
We should probably look for a potential rebuy at 8800$ (as being new trend line) and also use stop/loss at 8400$ (just as a precaution), even we are " aiming" 11,500-11,600$ output price, which would be like 30% profit.
If that correction we are expecting doesn't " occur", i would not suggest "dealing with this situation", maybe short swinging with stop/loss again (but aiming for 11.000$), because this price is also unsustainable as any given price above 8000 level, because price is uncertain while being pumped.
Once again, don't get tricked by this Bitcoin manipulation, use this situation in your advantage.
Rebuy at 8800 and cashout at 11.500$ so we can determine in which direction market is moving (it will be probably downward pattern only) while taxi drivers and hair stylist shooting messenger with " Bitcoin to the Moon, new price record, 40.000$, 100.000 $ and other absurd scenarios), because time has come for WIDE CORRECTION and nothing but BULL TRAP on 11,500 level (12.000).
Don't let your self sink with this Bitcoin after 11.500 price level.
-This is not financial advice, it was meant to be used only as subjective speculation regarding this very tricky and deceptive situation.
Good luck
As obviously having problems to handle with 10500$ resistance and pumped 200-300$ over, trying to "leave an impression" of being absolutely bullish by any indicator , even pumped it could not break it (since the "guys" doing this pump won't be spending their money only), they are counting and relying on other traders to "bait" after (apparently) normal rebounce in "bullish" environment (this is not bullish, since we are still in bear market, this is bullish short therm run which will end up falling only).
Line of this (artificial) trend has been placed 2500$ higher then in "regular" (normal) scenario (probably because of % gained during swings) as trying to "persuade and deceive" people in order to "accumulate" more, so it could have more strenght for rebounce to 11,500$ (maybe even 12.000$), but certanly not far from that which will CERTANLY END UP FALLING.
We should probably look for a potential rebuy at 8800$ (as being new trend line) and also use stop/loss at 8400$ (just as a precaution), even we are " aiming" 11,500-11,600$ output price, which would be like 30% profit.
If that correction we are expecting doesn't " occur", i would not suggest "dealing with this situation", maybe short swinging with stop/loss again (but aiming for 11.000$), because this price is also unsustainable as any given price above 8000 level, because price is uncertain while being pumped.
Once again, don't get tricked by this Bitcoin manipulation, use this situation in your advantage.
Rebuy at 8800 and cashout at 11.500$ so we can determine in which direction market is moving (it will be probably downward pattern only) while taxi drivers and hair stylist shooting messenger with " Bitcoin to the Moon, new price record, 40.000$, 100.000 $ and other absurd scenarios), because time has come for WIDE CORRECTION and nothing but BULL TRAP on 11,500 level (12.000).
Don't let your self sink with this Bitcoin after 11.500 price level.
-This is not financial advice, it was meant to be used only as subjective speculation regarding this very tricky and deceptive situation.
Good luck
Trade active
Since we are still trying to determinate in which direction market is moving,I would suggest that we should wait for potential rebuy at 8800$/9000$ (not above).
Main thing would be that we should cashout at 10500$ not 11,500, so 10500$ (just as a precation.
Than we should wait for another retreacment on aproximately 9000$, buyback and wait for see how situation develops.
Good luck guys.
Trade active
And of course when buying on 8800$ S/L should be placed at 8400$.Risk/Reward ratio would be 5:1
Trade active
Price on Bitcoin is getting pushed for like 20 minutes so far.It should make retracement back to aprox 10100 in the first instance.
Our rebuy would be still at 8800-9000 (poloniex)
Trade active
Instead of price reversal 10.8 to 8.8 (which would be healthy consolidation, price is being "dragged" by buyin large volume of Btc (one sided, in closed circle) (huge orders got filled instantly, 30/50/70 btc buy order (when breaching reistances 8.8/9.5/10.5/11.2, and attempt of breaching 11.7) while there were no orders bigger than 0.5 (in those moments), could possibly lead us to determine our current position and "what's next".Since price is being dragged to 11,700 level, it could be sold progressively, but having in mind we already saw 11,700 (in different manner that "we thought it should be" but yet " happened"), maybe we should think about our future steps (when price reversal is being finish).
We should have retracement to 8.800 level.
Anyway.
After that price range, having in mind we are in not that stable enviroment, maybe we should reconsider "are we in bear or bull market", but seems to me that correction hasn't finished yet, despite everyone else talks " bullish (seems like they flipped the coin, so decided to be bullish".
8800 and 8400 would be crucial about determinating our current position and enviroment.
We could do some "scalping" (as my frined loves to say)
We could rebuy at 9.4.
Setting up stop/loss at 9.3.
We would aim for 9.8-9.9.
risk/reward would be 5:1
After that we should expect retracement to 8.8, because no other price doesn't fit into a bigger picture.
I do expect downward pattern, but still, i m not excluding new uptrend (which if would happend) would probably be arfiticial, but mixed smart money+big boys money, so "big boys" could "add momentum" (as they did 8.8---->11.7), they could possibly pump it again, but if we experience "new uptrend" by my opinion would be arfiticial.
I suggest anyone to thread carefully.
Trade always with s/l (close one)
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