I decided to publish a simple chart since I can see a lot of imaginary charts and "predictions". Honestly I do not like to publish charts, since my trading ideas are mine and whenever I share an idea I invalidate it at the sharing moment.
It is pretty simple. Market moves in impulses and corrections when there is an established trend. Bitcoin trend for the last 14 months has been established as bearish, especially when November 2018 we broke 6k mark. We had a down impulse in November and now we are in correction therefore there is bigger probability that the market will continue to the downside. On the chart you can find possible targets as horizontals. We can correct to 5k even 6k bur this still do not mean that the trend has been reversed.
Again, the higher probability right now is that we take the 3k barrier as we took the 6k. Like it or not this is what the technical chart suggests as higher probability right now. Everything is in motion therefore if the chart paints something different than what we can see now every trader should re-evaluate and work accordingly.
There is no need for indicators to see what price is suggesting. Keep it clean even if you use indicators (as I do use) first look at the clean picture.
That said, yes Bitcoin has immense potential, yes broadly speaking we are in a bull market since the inception, yes the market is small and it will outperform most markets in the next few decades, yes economic activity will be much more dynamic thanks to btc and lightning, yes longterm things are more than bullish. However if you want to squeeze maximum potential you use charts and TA as the FA is better than ever especially after SW was activated and lightning is growing like mush.
It is pretty simple. Market moves in impulses and corrections when there is an established trend. Bitcoin trend for the last 14 months has been established as bearish, especially when November 2018 we broke 6k mark. We had a down impulse in November and now we are in correction therefore there is bigger probability that the market will continue to the downside. On the chart you can find possible targets as horizontals. We can correct to 5k even 6k bur this still do not mean that the trend has been reversed.
Again, the higher probability right now is that we take the 3k barrier as we took the 6k. Like it or not this is what the technical chart suggests as higher probability right now. Everything is in motion therefore if the chart paints something different than what we can see now every trader should re-evaluate and work accordingly.
There is no need for indicators to see what price is suggesting. Keep it clean even if you use indicators (as I do use) first look at the clean picture.
That said, yes Bitcoin has immense potential, yes broadly speaking we are in a bull market since the inception, yes the market is small and it will outperform most markets in the next few decades, yes economic activity will be much more dynamic thanks to btc and lightning, yes longterm things are more than bullish. However if you want to squeeze maximum potential you use charts and TA as the FA is better than ever especially after SW was activated and lightning is growing like mush.