BillCharison

#BITCOIN - Where to Catch LONG?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The phase of iv-v comes to the end and now we should see a local correction III-IV. The main thing which confirms this is the local bearish divergence at the iv point. It is hard to tell where the next correctional wave will have its end, but at the moment I see the level $10100 - $10200 as a strong support.

Now, to confirm the local reversal downward, we need to see any reversal patterns like double top etc below the $10450 or an absorption pattern below the $10285. Next, we will follow the price behaviour closer to the $10100 - $10200 level. Want you to remember that we're not looking for SHORT entry point, only for LONG, as we're in an aggressive bullish market at the moment and $11000 is only a matter of time.

And one more thing: the price has stayed above the $10000 level for a long time and even if $BTC decides to go above this level again, it wouldn't mean anything horrible. This psychological level is not that important as it was a couple days ago.
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Comments

what goes up, goes down
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strong levels
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