Original chart in related ideas section
After the big pump that destroyed 4200 (I was one of the people selling at 4200 and got "rekt"), I think it is clear that Bitcoin likely bottomed at 3k. I was neutral on Bitcoin so I should have been flat, but I did not expect a massive breakout.
There is no chance of Bitcoin breaking out and entering a full on bull market, so do not be hopeful of that. However, this likely indicates that we have bottomed.
For now I expect a rise to 5.4k-6.4k before breaking down to sub 4k. You will get another chance to buy 4k. A short at 6k will be a winner as long as you do not get shaken out.
A rise past 4200-4400 is very significant, as that was where previous big buyers bought on the way down to 3k, creating strong resistance at that price.
I think Bitcoin has a strong chance of consolidating below 5.4k before having another rally to 6.4k. By then the demand should be mostly gone and a short would be nice. If there is a breakout of 5.4k with enough volume, 6k is very likely.
After the big pump that destroyed 4200 (I was one of the people selling at 4200 and got "rekt"), I think it is clear that Bitcoin likely bottomed at 3k. I was neutral on Bitcoin so I should have been flat, but I did not expect a massive breakout.
There is no chance of Bitcoin breaking out and entering a full on bull market, so do not be hopeful of that. However, this likely indicates that we have bottomed.
For now I expect a rise to 5.4k-6.4k before breaking down to sub 4k. You will get another chance to buy 4k. A short at 6k will be a winner as long as you do not get shaken out.
A rise past 4200-4400 is very significant, as that was where previous big buyers bought on the way down to 3k, creating strong resistance at that price.
I think Bitcoin has a strong chance of consolidating below 5.4k before having another rally to 6.4k. By then the demand should be mostly gone and a short would be nice. If there is a breakout of 5.4k with enough volume, 6k is very likely.
Comment:
Buy 3.8k
Comment:
3.8k will be the target to buy after the rally ends. Most likely this could hit 6k.
Trade closed: target reached:
6k was hit. Bitcoin is now at 8000.
The bull market has began. Buy every single dip.
The bull market has began. Buy every single dip.
