While I'm Overall Bearish, I believe we have a setup temporarily.
Let's see how this one plays out!~
Long Term Outlook:
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Price Ranging, seen this a million times, maybe this will be a million and one, where price ranges, orders sit on the table, and a huge squeeze comes in. Let's see what happens.
@tranhaidangnever2, I think so, would want a limit order ready in my opinion incase we have a huge spike come in, keep leverage small and add on confirmation.
aleksikboy
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It seems literally everyone everywhere expects bounce from this price range and very soon. If everyone knows this and they are waiting, who will buy to raise the price?
MarketMakerTraders
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@aleksikboy, game of odds, I think there's enough sellers in the books to take out before heading back down, if this completes up to 51,XXX, I expect that to fuel enough orders to continue lower, I like they swept the lows in this setup, right where all the buyers stop losses would be, that gave me the trade a little more probability, time will tell aye!
ponzialchemist
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A lot of them are expecting the bounce off from 41/42k to new ATH's, do you see that probability in any case? In case it spikes beyond 52k?
MarketMakerTraders
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@metalalchemist, I'm betting on this, as we need more with this ideology to complete and continue lower, a healthy chart is will what keep BTC going up (long term) in the future. History always repeats itself.
As far as 41k, to new all time high's, it's significantly improbable (not impossible), I'm all about probability and I still think we are heading lower, we may see things slow up in the mean time.
Thanks mate for your view on it. Yes I wrote it already, rebounds will happen and they can be pretty agressive. Al done to stop traders out and put them on the wrong side of the market.
Interesting is the price of Bitcoin 14 months ago! we have since then a profit from 3000% and in Ethereum it is even 5000%.
So too fast to much and it need a correction.
Imagine all traders who bought BTC or ETH because they think to miss the boat. Many will get stopped out because that is the job of those hedgefunds, banks, pump and dumpers. In the end my friend, the smaller traders pay the price untill there are new traders who think making money is so easy. The sad thing is all those profits will go back in a heavy decline and yes... there are the instituions waiting to buy those bitcoins with a bargain. They buy only with heavy discount.
But you see it very right! thanks again my friend!
JRtradingCo
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You think it could reach 51k before dipping again?