ibrahim.bensalah

Correction is coming next

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We have seen the top for now and a correction of around 35% seems logical based on what we have seen in previous bull run, also we need to. Why now?
1. Grazy run in 3 consecutive months
2. Fib level 2 @ 35644 reached (kind of, maybe we have a second attempt on that level and fail)
3. Fib level 1.272 @ 24074 confluences with 20 Week MA
4. Current top connects top of 2013 and 2017
4. RSI is hiiiiiiighhh
5. Bollingerband overstretched (not shown here)
6. Because I can enter again at a lower price and I dont like FOMOing in at a higher price

Comments

Bitcoin and 'logical' don't fit into the same sentence. Therefore everything is possible, including a 35% rise.
Reply
if the price action of BITCOIN is not logical then what is? I was expecting this move since month and went in BIG, it just was much faster than I anticipated, I prefer to retain my profit and possibility the pain of FOMO over risking any big losses. having said that the next price action might change my strategie
Reply
Keep sitting on the sidelines, institutions and us bulls will be buying every bitcoin available. Bitcoin is UNDER VALUED, right now. All these people want it to fall because they’ve been sitting out since November, not realizing 15, 16, 20k were cheap to get into a long position.
Reply
ibrahim.bensalah Mattysalads
@Mattysalads in fact I ve been sitting on my Bitcoin , now happy scalping and after a good dump will ride back up on cheap Bitcoin
Reply
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