BITCOIN BTC FIRST STOP $50,000 AFTER RECOVERY - CryptoManiac101
Hey Crypto Maniacs!
We are looking at this great pattern for Bitcoin which was maintained since 2012. We have set a firm trend line which to this date has never been broken. Since year 2014 we have also started looking at a possible uptrend wedge developing which is a bearish long term signal if validated. Current state of Bitcoin is bullish, even though we believe that it can still make it's way below around $5,000 mark before recovery kicks in.
As indicated on chart, we are looking at 3 possible paths Bitcoin will take. Both T2 and T3 will take us to an accumulation zone like in 2014 however since adoption / awareness rate is much higher in 2018 vs 2014, we might go through it quicker. Finally T1 is by far the best looking path on chart which we all want Bitcoin to take. It includes a month worth of accumulation and then instant uptrend with 55% probability, we are still leaning more towards T2 because even though we remain optimistic about Bitcoin, we want to be cautious when it comes to market.
With that said, we are bullish, medium to long term investors have great opportunity to get into Bitcoin with Alts being on Black Friday Sale right now, including Ripple, EOS, TRON, VERGE and many other one's our exclusive members are taking advantage of.
To add, if upward wedge confirms, we will see Bubble Burst between 2021 and 2022
Enjoy this trade my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
We are looking at this great pattern for Bitcoin which was maintained since 2012. We have set a firm trend line which to this date has never been broken. Since year 2014 we have also started looking at a possible uptrend wedge developing which is a bearish long term signal if validated. Current state of Bitcoin is bullish, even though we believe that it can still make it's way below around $5,000 mark before recovery kicks in.
As indicated on chart, we are looking at 3 possible paths Bitcoin will take. Both T2 and T3 will take us to an accumulation zone like in 2014 however since adoption / awareness rate is much higher in 2018 vs 2014, we might go through it quicker. Finally T1 is by far the best looking path on chart which we all want Bitcoin to take. It includes a month worth of accumulation and then instant uptrend with 55% probability, we are still leaning more towards T2 because even though we remain optimistic about Bitcoin, we want to be cautious when it comes to market.
With that said, we are bullish, medium to long term investors have great opportunity to get into Bitcoin with Alts being on Black Friday Sale right now, including Ripple, EOS, TRON, VERGE and many other one's our exclusive members are taking advantage of.
To add, if upward wedge confirms, we will see Bubble Burst between 2021 and 2022
Enjoy this trade my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
Trade active
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Current state of Bitcoin is bullish - as of time we are posting this and by looking at 2H chart in short term
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4H chart is still bearish which is more of a longer term trade, but in day trade looks OK - RSI is higher then what we would have anticipated for a breakup up, which means that we are Bullish in short term - leaning more towards Neutral
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As expected we turned bearish again still holding that support on chart anove
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Anyone shorting Bitcoin this week?
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Bottom is around $4,500 which is where our trend like support is. If we break that, this is just for future so everyone knows, upon a firm break, the whole pattern becomes invalid and it confirms an upward wedge we have been talking about in this chart. This is worst case scenario for us because then we no longer have any distinct support areas on chart unless we start going back a few month or even years.
We are holding current support which is just around $6,450 which is phenomenal because we would have anticipated a break down by now if market was to continue being bearish. This means that we will either accumulate at this stage or slightly lower but we won’t see anything as major as back in December to January
We are holding current support which is just around $6,450 which is phenomenal because we would have anticipated a break down by now if market was to continue being bearish. This means that we will either accumulate at this stage or slightly lower but we won’t see anything as major as back in December to January
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I would also like to point out that we see recovery process much quicker this time around due to much better adoption rate of cryptocurrency which is all connected to Bitcoin which is our digital gold at this point. Although not much can be done with it if compared alongside Tron, Ethereum, Litecoin and so on, it is still a standard in cryptocurrency and we believe that it will never fully become 'unpopular' so to say. Also keep in mind that every Bitcoin gets more difficult to mine which which from there just creates a simple theory or supply and demand. We know that cryptocurrency will become more and more popular as has been highlighted by many institutional advisors, analysist's and others, so if currently we have less then 5% of people in the world owning some percentage of cryptocurrency with 8% in US as of January 2018 (and you know that number is much lower now that correction occurred). What we are trying to say here is that with higher demand in the future, with institutions, banks, large companies getting into cryptocurrency we will not see such low of a price. Remember that crypto market today is worth what? 290 Billion dollars when US stock market alone accounts for over 30 trillion. Again, that's only US market, we are not talking about going even international here. With more and more people getting into crypto we may see investments going as high as over 500 trillion dollars within next 5 years, which is the same period of time many anticipate market crash in US. People will move their investments from stocks and bonds into cryptocurrency, because at least here they will succumb to much less manipulation then in regular US stock markets.
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Indicators are turning bullish guys - watch closely this week, we will update chart if needed, looks like a bullish penant at this point if you look at 5 month chart
Trade active
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This is what we are looking at in short term. NOTE - if we drop below that path, it becomes invalid, but looks good for today
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Volumes are extremely low - this can give a quick boost or quick drop. Watch carefully and invest with tight Stop Loss
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Here we have updated short term chart - we still see accumulation however if volume increase T1 can become likely
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We dropped by around $80 which is fine since there is no volume, what did you expect? What we want to keep an eye on is that support on chart above I sent recently. We do not want to see that break which is around $6,200 - $6,000
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We are still on support. Signals are neutral to bullish, pattern in short term bullish, long term pattern still bearish and volume is bearish. With that said we remain optimistic for our short term support level. Let’s see if we hold today!
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It's hard to correctly identify current state of Bitcoin, but bullish signs are getting stronger with each new candle in short term
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What a pump haha
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If some of the more riskier investors entered this trade when we told you to, you're in over $200 profit per Bitcoin
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We will get support level at $6,600 - consider that as your SL for risk minimization
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Indicators show us possible move into Ichimoku Cloud for resistance break
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LIKE for support crypto maniacs!
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Short term target around $7,000
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Market is now neutral, meaning not bearish or bullish
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If you're a day trader, time to get out
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Short term holder can hold for support at $6,450
Medium term holders can hold for support at $6,250
Medium term holders can hold for support at $6,250
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UPDATED CHART
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Upward break will bring us closer to T1