Please! And I repeat, please! Stop trying to anticipate the bottom by buying the "dips" that the media and your favorite Youtuber push down your throat. I take it that everyone that puts the effort in to even attempt to dive into TA has a strongunderstanding that the market works in trends. AND RIGHT NOW, AS HARD AS IT IS TO SAY, THAT TREND IS DOWNWARD!!!
With this said I put together a depiction of what this weeks short will look like within my trading community. There is a strong resistance at roughly $6280, which is the swing low of ($7600 to $6280) the previous downward swing. If bitcoin were to break this resistance level the highest I could see it going is $6400- where .... ,its current channel and the channel of the downward trend of the market would intersect, forming the same pattern of resistance that happened in the previous channel above before it began to follow its downward trend. We predict that there will be a pull back at the resistance level of the latest swing low ($5780), which is where I will take profits before I reinvest them with another short before bitcoin reaches roughly $5400!!
How did I get $5400: I took 90% of the previous downward swing ($6700-$5700) which brought me to approximately 5,439.28 when plugging in the exact coordinates.
Side note: Please do not let mainstream media, whom is controlled by the elite, bait you in to believing that the bottom is near. They are not even close to flushing out all of the "bs" coins that made millions of dollars . So until the regulations come, make you some money strategically placing your shorts.
Best of luck to guys!!
With this said I put together a depiction of what this weeks short will look like within my trading community. There is a strong resistance at roughly $6280, which is the swing low of ($7600 to $6280) the previous downward swing. If bitcoin were to break this resistance level the highest I could see it going is $6400- where .... ,its current channel and the channel of the downward trend of the market would intersect, forming the same pattern of resistance that happened in the previous channel above before it began to follow its downward trend. We predict that there will be a pull back at the resistance level of the latest swing low ($5780), which is where I will take profits before I reinvest them with another short before bitcoin reaches roughly $5400!!
How did I get $5400: I took 90% of the previous downward swing ($6700-$5700) which brought me to approximately 5,439.28 when plugging in the exact coordinates.
Side note: Please do not let mainstream media, whom is controlled by the elite, bait you in to believing that the bottom is near. They are not even close to flushing out all of the "bs" coins that made millions of dollars . So until the regulations come, make you some money strategically placing your shorts.
Best of luck to guys!!
Comment:
Enter point being $6100