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10k

BTC going sub 10k IMO1. Death cross almost ready on the 13/48 MAs. 2. Every pump that we've had has been weak and following with dumps on strong volume. 3. We can potentially bounce to that 14.5k level tomorrow before going down strong to 9k. 4. Once we enter the cloud, my first target is around 11.5k. After that, target should be around 10k. probably lower in the 8k levels. 5. We are clearly overextended IMO and the hype has died down which is reflected in the low volume this past month. 6. The we might be seeing a bearish komu cross soon as well. 7. I am not shorting this, but will have some fiat for if and when this happens. **I am bullish on the long-term, bearish on the short-term.
BITFINEX:BTCUSDShort
by bitbrih
1
BTCUSD Perspective And Levels: 9959 And Trailing Stop.BTCUSD update: 9895 new high and poised for 10K. The music hasn't stopped yet, so if you are in, the best you can do is manage and be aware of any early selling signs. If you are out, now is not the time to get in. I do not want to sound repetitive, but this price action is very suspect. Runaway markets like this are rare, and unusual and will encourage bad habits among the inexperienced. What you are seeing in all of these markets is very bubble like and best for taking profits in my opinion. I have seen this before and it is just a matter of a surprise. Some "unexpected" news. If you want to hold because that is what has been working, then by all means hold, but you would be foolish not to lock in at least 25% at these levels. A few years ago, silver went from around 15 to 50 in a very short period of time. There was all this talk about a huge silver shortage and how one major bank was stuck in a large short position. The metals are relatively small markets, are limited resources like the coins, and they have to be mined. I figured silver would be at 100 at the rate it was moving. Know where it is today? 17. There may be different drivers and catalysts for the coins, but markets that go too far too fast play out the same. (Google Tulip Bulb Mania). I measured an extension from the 5114 low and projected from the 5400 low, and it revealed a 1.618 at 9959. This is a target and psychological resistance. I am not going to generate new support levels until this market decides to show signs of weakness. One level that I will be keeping an eye on is the 9450 level. Why 9450? It is the low of an inside bar on this 12 hour chart. A break below that, and that will be the first sign that momentum MAY be changing in this market. From there I will evaluate the relevant support levels. That is my only plan for this market at this point. One thing to consider if you do not know whether to hold or sell is use a manual trailing stop. Since this market is not really retracing, use the previous day's low as a reference point. Each day, as the market fails to retrace, you raise the stop to the higher low. Eventually, you will get stopped out, but the market will decide instead of you. This often allows for staying in a move longer because you take yourself out of the equation. The thing is IF the market gets noisy, it is possible to get stopped out and then watch the market go higher without you, but if you are walking away with a profit, there should be no complaints. This works well in trending markets that do not retrace (like what we are seeing now). In summary, ride it out until the music stops but do not be afraid to take profit. There seems to be this "entitlement bias" that is running rampant among newer investors. They believe they are entitled to sell the top and if they sell and take a profit, and the market runs up another 1k points, they get upset. That is greed and it is the same motivator that will seduce you into buying too early when this market decides to really sell. As far as swing trades go, I have no interest in taking any risk at all at these levels. I don't buy highs of asset bubbles. My plan at the moment is to wait for the next major support which is in the low 8ks and EVALUATE from there. Comments and questions welcome.
BITFINEX:BTCUSD
by MarcPMarkets
41
BTC to 10k ???? next entry to get long many have said BTC top is in .....me i disagree we are currently in the ABC correction and if we are to have a traditional ABC next entry for us to see continue of the trend would be on the algo target of 0.618 with a stop on the otherside of the 0.65 giving us the upside targets of the -0.23 and the -0.618 to the extreme Although it is quite possible we see a trucated C wave with an upside from the 0.50 What do you think ? Happy trading
BITSTAMP:BTCUSDLong
by bassliner123