JefeCaan
Short

BTC Correction NOT OVER YET. I repeat, NOT OVER YET.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Don't get caught in bulltraps! This correction for the crypto market in general and BTC in particular is not over yet. Don't let some greens on Coinmarketcap fool you into thinking it is over. The trend is still bearish and it will continue to be bearish at least for the next week i.e. till the end of the year. So, don't rush any trades. It's better to miss out on an opportunity to make 10% profits rather than being in 60% loss for a long time. Let it hit the bottom, we'll pick it up from there,
Comment: Signs of a trend shift starting to appear. Here is my latest analysis:
Comment: Correction seems to be over for now.
Comment: Every post/idea has a life. It is valid for a certain time from the time it is posted. Try to follow updates. Don't just read headlines. Nothing stays the same forever. Thanks
Looks like it is over - not coming down !
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JefeCaan NosMan
@NosMan, Yep.
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can you @fakhan can you please help me understand if you drew 2 channels (red and green), how do you know which way will go? ( i am new to TA)
+2 Reply
JefeCaan rockyrashidi
@rockyrashidi, Well, we don't really so we watch which channel it respects with time. Talking about the one I posted, if you click the play button you will see that the price is out of the bearish channel (red lines) so it is safe to say that recovery has started and the correction is over.
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it may go like that, otherwise we may see the 8000
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JefeCaan ea87917
@ea87917 Lol
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ea87917 JefeCaan
@fakhan, ^.^
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Draw resistance trendline, it has been broken so its signal to uptrend and end of downtrend? you have it on support on 1st chart.
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JefeCaan mmaakkee
@mmaakkee, Yes, I provided update to the new chart. Signs of a reversal starting to appear. Let's see if it holds.
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