Let me start of by saying that charts always move in cyclical pattern. In basic English terms: "history will repeat itself" :)
Take a look at the chart, a picture is worth a thousand words.
I am NOT saying that higher low to $14k will put us on a bull trend. That is yet to be determined.
I am simply stating the most probable scenario based on the recent history.
Disclaimer:
I am not a financial advisor, and all of my published ideas are for educational purposes only.
Take a look at the chart, a picture is worth a thousand words.
I am NOT saying that higher low to $14k will put us on a bull trend. That is yet to be determined.
I am simply stating the most probable scenario based on the recent history.
Disclaimer:
I am not a financial advisor, and all of my published ideas are for educational purposes only.
Comment:
Here is a screenshot of the corrected chart, too:
Trade active:
Considering that both bears and bulls are loosing steam, I am anticipating a lower high to be in the $13.5k range, rather then initially anticipated $14k range.
Trade active:
Ok guys and gals, we've got some good news:
+ Golden cross on a 45 minute chart
+ Cleared the triangle top
- Very soon we are going to get a turn on the MacD indicator as well (red line crossing the yellow one). Look for this as a final confirmation.
Either way, we go UP from here!
It is going to be fun to watch FOMO effect kick in for all of those that waited with their buy orders in the $7 and $8k range :) They are the ones that are going to create a very strong momentum soon.
One very important thing to consider is, when BTC starts moving up ALT's are going to take a hit. So, take this into consideration.
+ Golden cross on a 45 minute chart
+ Cleared the triangle top
- Very soon we are going to get a turn on the MacD indicator as well (red line crossing the yellow one). Look for this as a final confirmation.
Either way, we go UP from here!
It is going to be fun to watch FOMO effect kick in for all of those that waited with their buy orders in the $7 and $8k range :) They are the ones that are going to create a very strong momentum soon.
One very important thing to consider is, when BTC starts moving up ALT's are going to take a hit. So, take this into consideration.
Comment:
FINAL CONFIRMATION:
Trade active:
A small correction as we were overbought on a 4h chart. Normal market behavior, nothing to worry about :)
Comment:
If you take a look at the bigger picture, complete picture if you will, we are still in the bull trend.
We are in the midst of a shorter term correction, and all of the News/FUD ins't helping either.
If we continue to go down, I will be looking to add to my position at around $7500 and $5600.
We are in the midst of a shorter term correction, and all of the News/FUD ins't helping either.
If we continue to go down, I will be looking to add to my position at around $7500 and $5600.
www.tradingview.com/chart/bCFiqJhI/