Now is the time to get into bitcoin if you want to hold for a long time.
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BTC got rejected from the upper trend line, so we may revisit the 9000s to 8000s. To protect us from this and lock in some profits, set stops to 10060 (the red line in the chart below). If the price goes below the red line, it means the wedge structure has failed.
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We are in a channel, BTC is extremelyl bullish. dont pannic if the channel breaks.
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Trend line re-confirmed. The bull is in full steam.
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Chennel is broken. We could test back the long term flag. Set stop to 10830 to lock in profits.
We may get a better privce buying again later.
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This is why we set our stop loss - our profits are locked in. We are going to wait for a re-entry signal.
The ultimate goal is to get a good entry point and break through the 12000 resistance to confirm the uptrend.
Stay tuned.
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Aren't you glad you took your profits when the market showed weakness.
Trading with TA is not just about entering at price X and taking profits at price Y. You have to manage your trade by locking in profits and limiting your possible lost to a known value.
I'm waiting for a signal to go long again. The recent violent price drop indicates that we are likely going lower. I will sit and watch for now.
BTC got rejected from the upper trend line, so we may revisit the 9000s to 8000s.
To protect us from this and lock in some profits, set stops to 10060 (the red line in the chart below).
If the price goes below the red line, it means the wedge structure has failed.
Zakir-Ahmed
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wait for 8k...
Remind
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@ghose12,
LOL were you not that idiot that posted on my idea a few months back when bitcoin was at 15k and the idea predicted down to 8k.
quote what you said...
"ghose12 Dec 27, 2017
get ready for people laugh on u...worst care drop will be 10.5K ...then to moon.."
you're right it may drop to 8k... but you already lost all credibility.
Zakir-Ahmed
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@Remind, man...thanks for remembering me...the last time the korean FUD triggered so that we came all the way down and many more attacks..now that trend is followed up..as i am new at that time ..i was strong with my opinion..but what we can say what happens with market..can change with any bad news..now i am sure if 8k too fail we can go way more down..
To protect us from this and lock in some profits, set stops to 10060 (the red line in the chart below).
If the price goes below the red line, it means the wedge structure has failed.