Did panic has started already?
Price has come to the point where either strong sell or strong buy will follow next ... price can't keep moving longer in that range (9k to 12k) for more than 2 months ... the direction is not decided yet and i see the next move will give us the final answer.
If the price bounce from this level again that will mean anything below 9500 were a strong reversal points ... This is the 4th time price visit this level and its going to be the last
-next up move will be above 12k level
If price didn't bounce:
-next move will be a fall to 8400(daily 200ema) or to 7500 where next support located ... If this happen, i will consider this move from (3k to 14k) was a corrective wave B instead of impulse bull run ... long term bear market with cheap btc targets, 1k will be possible this time...!
From previous ideas .. although some possible reasons to be bullish were invalidated but its not enough to turn bearish...!
According to 3 scenarios we had shared before which are still possible 9100 or 8800, also i will have my exist below 8700.
-Fear&Greed Index is at 20 = Extreme Fear >>> buy the fear and be greedy
-Shorts vs Longs
24 HOUR | LONGS: 1,636,421,868 (48.25%) | SHORTS: 1,755,392,054 (51.75%)
Before this last drop longs were 65% >>> the house always wins
-Portugal BTC trading&payments are Tax-Free
-John McAfee: Bitcoin under $9,500. if you are panicking you are a fool. (correct, I agree:)
-In CME vs Bakkt comparison, we mentioned price dropped after CME announcement from 7k to 6k before resuming uptrend. Now after Bakkt announcement price has dropped from 10300 to 9300
-Sept 6, Bakkt warehouse will begin to offer secure storage to prepare for the launch which will enable physical delivery of bitcoin unlike CME and for this reason we should expect increase in demand after the launch.
As mid/long term trader .. Its not easy to be panic either buy or sell .. The last thing i will do is outsmart the Market .. Patience is the Key .. Focus on the Trend .. Stick to a strategy and accept the outcome! .. This is differ from a person to another .. we don't have the same mind,view,entries and risk% as well as invalidation level.
===================================
1D chart:
-We have 3 support and trend lines ... Green support line still valid since 17 Jul
-Price need to reclaim 100ema above 9700 as soon as possible to remain bullish
-RSI is at 37 level which is same level where this bull run has started since 3300
-RSI multiple lower low touch forming hidden bull div with higher low prices
-Stochastic RSI has printed classic bull div
4H chart:
-RSI has printed classic bull div followed after hidden bull div
2D chart:
>> This is my own personal view/plan and none of my ideas stand as financial advise OR buy/sell signals ... We only trade the overall trend ... Trade at your own risk!!
Price has come to the point where either strong sell or strong buy will follow next ... price can't keep moving longer in that range (9k to 12k) for more than 2 months ... the direction is not decided yet and i see the next move will give us the final answer.
If the price bounce from this level again that will mean anything below 9500 were a strong reversal points ... This is the 4th time price visit this level and its going to be the last
-next up move will be above 12k level
If price didn't bounce:
-next move will be a fall to 8400(daily 200ema) or to 7500 where next support located ... If this happen, i will consider this move from (3k to 14k) was a corrective wave B instead of impulse bull run ... long term bear market with cheap btc targets, 1k will be possible this time...!
From previous ideas .. although some possible reasons to be bullish were invalidated but its not enough to turn bearish...!
According to 3 scenarios we had shared before which are still possible 9100 or 8800, also i will have my exist below 8700.
-Fear&Greed Index is at 20 = Extreme Fear >>> buy the fear and be greedy
-Shorts vs Longs
24 HOUR | LONGS: 1,636,421,868 (48.25%) | SHORTS: 1,755,392,054 (51.75%)
Before this last drop longs were 65% >>> the house always wins
-Portugal BTC trading&payments are Tax-Free
-John McAfee: Bitcoin under $9,500. if you are panicking you are a fool. (correct, I agree:)
-In CME vs Bakkt comparison, we mentioned price dropped after CME announcement from 7k to 6k before resuming uptrend. Now after Bakkt announcement price has dropped from 10300 to 9300
-Sept 6, Bakkt warehouse will begin to offer secure storage to prepare for the launch which will enable physical delivery of bitcoin unlike CME and for this reason we should expect increase in demand after the launch.
As mid/long term trader .. Its not easy to be panic either buy or sell .. The last thing i will do is outsmart the Market .. Patience is the Key .. Focus on the Trend .. Stick to a strategy and accept the outcome! .. This is differ from a person to another .. we don't have the same mind,view,entries and risk% as well as invalidation level.
===================================
1D chart:
-We have 3 support and trend lines ... Green support line still valid since 17 Jul
-Price need to reclaim 100ema above 9700 as soon as possible to remain bullish
-RSI is at 37 level which is same level where this bull run has started since 3300
-RSI multiple lower low touch forming hidden bull div with higher low prices
-Stochastic RSI has printed classic bull div
4H chart:
-RSI has printed classic bull div followed after hidden bull div
2D chart:
Trade active:
