BTC/USD Analysis By A Full Time Trader - Buy And Sell Calls
BTC is currently in a bear market and will be for some time. That's not to say that there is not opportunity for the savvy to take advantage of the uncertainty and hopefully gain some more BTC.
It looks like the current bottom will be about $6400-6500. According to my calculations we will see a "third wave" and another down turn before the market either continues the overall downtrend or begins some sort of correction.
Here's the play - if you're in the cash - wait until $6400-$6500 and buy in. If you are in an ALT coin - you will probably want to wait for them to rebound before jumping back into BTC (theres likely more upside). I believe the next sell opportunity for BTC is at $8500-$8600. I am forever bullshit on BTC but from my TA I see a larger bear market that might take a couple months to shake - so watching the market and taking advantage of the spikes is advisable to the risk tolerant!
In the meantime - there are some very interesting short trades that could help you grow your holding. Traders help facilitate trade - never feel bad about selling or buying a little earlier than these projections - particularly if its a win!
This is by no means financial advice simply analysis and opinion -Crypto is a volatile creature - do your research before investing. My analysis is based on a few method and years of experience.
More to come..
It looks like the current bottom will be about $6400-6500. According to my calculations we will see a "third wave" and another down turn before the market either continues the overall downtrend or begins some sort of correction.
Here's the play - if you're in the cash - wait until $6400-$6500 and buy in. If you are in an ALT coin - you will probably want to wait for them to rebound before jumping back into BTC (theres likely more upside). I believe the next sell opportunity for BTC is at $8500-$8600. I am forever bullshit on BTC but from my TA I see a larger bear market that might take a couple months to shake - so watching the market and taking advantage of the spikes is advisable to the risk tolerant!
In the meantime - there are some very interesting short trades that could help you grow your holding. Traders help facilitate trade - never feel bad about selling or buying a little earlier than these projections - particularly if its a win!
This is by no means financial advice simply analysis and opinion -Crypto is a volatile creature - do your research before investing. My analysis is based on a few method and years of experience.
More to come..
Comment:
Big spike made the price jump temporarily.. I expect it to continue in the downtrend until it breaks out of the pattern- unless we hit over 7800 keep waiting.
Comment:
It looks like some people have their stops set around 7k which would explain the fluctuation.. This is a temporary problem as BTC will continue its decline to at least the target price. If any breakout takes place I will confirm here - until then set your buys and take a vacation!
Comment:
BTC is trading just below its high of $7556 - Do not be fooled - take a look at the market depth on the buy side... hold tight..
Comment:
Th $7000 area seems like a hurdle - but we will hit it and drop below eventually. The patient should wait to the target.. Scalpers will likely have an opportunity to buy at 7000 and sell again at 7300 as it slowly makes its way to the target. Stay cash for now - we're not moving on from this bear market without hitting the 6000's.
Comment:
The pattern seems to be continuing even though the price just spiked... Its the weekend.. I expect the buy opportunity will likely happen next week... we will probably band between 6800-7700 for a while to come.