portfoliox

Bitcoin targets and resistance levels. How to trade.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
If you want to see the big picture, check out my previous post. We need to see different time charts and some helpfull indicators. If we go through this zone 11.300 - 11.500 we could reach a very important zone of 12.000 - 12.200. This is very big resistance zone . If we bbreak that zone then we are officialy in bull market. Around 12.500 or more.
Comment: Going as planned. Still bellow that resistance line. It must surpass at least 11.300 to consider going in.
Comment: Please check my previous btc post. There you can see support levels of ichimoku clouds. If it drops bellow that levels it could drop to next dupport lines.
Comment: The stoch rsi is currently overbought . That doesn't mean it can't go higher. It means we could potentialy see some pullback or maybe some pause at least. Currently tesistance around 11.700. That's the lines where we saw some resistance levels before btc dropped to 6k.
can you please show and explain in detail why you drew your upper line of the downtrend channel the way you did? it seems a bit off to me.
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siwe7 portfoliox
@portfoliox, thanks for the picture, but it does not explain WHY you've drawn it like that... shouldn't it be more like this:


your trendline does not exactly touch these highs.
i would like to know why you are doing it this way, becasue for me it seems wrong. but maybe i am wrong.
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why would they sell when it will run thru that resistance like knife thru butter????? Resistance lines are fake and created by people like you to make other people sell at that point and therefor create resistance that shouldnt be there at first time. If anyone listens to you they will lose on huge bull run and if it drops from 12200 it will be short lived and with trading bots ppl risk on bull run for what??? 2 % profit?
+2 Reply
portfoliox zoran83ns
@zoran83ns, as you see, bitcoin could not go through this zone so easy. It stayed for some time. If you day trade you have to know the resistance lines. If it breaks that resistance then you can buy again.
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zoran83ns portfoliox
@portfoliox, and risk missing out on bullrun for what profit???? 2%???? it can go fast since btc is not like stocks and u will miss out on possible bullrun and rish that for 2% chance of profit and lose on bullrun to new ATH
+1 Reply
portfoliox zoran83ns
@zoran83ns, i'm in since 6100 usd. It had a nice bull run. Now we are reaching some levels where it could het more risky. You can minimize risk by buying or selling at support and trsostance lines. Check my both btc chart post to see where they are.
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