So Bitcoin's mystery and game plan about to be relived. Past 3 months whales&institutional investors were playing mental games.They turned die hard bulls into bears and die hard bears into bulls. As a matter of fact they got too greedy. They even want average joes few bucks. Every indicators that I use points towards bitcoin is overbought and this rise without a proper correction cannot be sustained unless they come up with super exciting news that possibly could create a new buying hype.
So recently breakout happened and everybody is excited about. Bull mentality back.People buying when Rsi indicator for 15 min interval points over 80 rsi!Alt coins soaring up as well some yielded over 100% past few days. Sky is blue grass is green so must be perfect time to enter the trade? Slow down for a sec. We have been through breakout situation countless of times since January then some strange reason it fails then we are looking for a new bottom line! Surprise!! By the way April 27 is approaching. What is special about this date? Future closing date :) So all of a sudden couple days before this date we may magically see so called correction again(or major manipulation)!
My advice is to be extra careful next few days and try to stay away from stop loss orders unless if you absolutely have too. It is not the right time to be emotional,it is right time to be rational.We are right in reversal zone anything can happen anytime.
Please like so I can comment on other's ideas. Thank you for reading.
So recently breakout happened and everybody is excited about. Bull mentality back.People buying when Rsi indicator for 15 min interval points over 80 rsi!Alt coins soaring up as well some yielded over 100% past few days. Sky is blue grass is green so must be perfect time to enter the trade? Slow down for a sec. We have been through breakout situation countless of times since January then some strange reason it fails then we are looking for a new bottom line! Surprise!! By the way April 27 is approaching. What is special about this date? Future closing date :) So all of a sudden couple days before this date we may magically see so called correction again(or major manipulation)!
My advice is to be extra careful next few days and try to stay away from stop loss orders unless if you absolutely have too. It is not the right time to be emotional,it is right time to be rational.We are right in reversal zone anything can happen anytime.
Please like so I can comment on other's ideas. Thank you for reading.
Comment:
So it looks like I was right about reversal zone to the point 3 waves then bouncing down from 9700usd and only got 6 likes!!! I guess you gotta have magic or dark in your user name to get few thousands. This correction should continue down to low 8g range then decisions has to be made at that point. Alt's BCH,XRP,ETH,DASH,LTC,ETC,XMR will get hit the hardest. It is best to be clear from any buying trade for next couple of days at this point.
Comment:
I am quite impressed with myself. 3 weeks ago I draw this line. Perfectly accurate. Still valid.. It looks like we are going test 7000 usd range
Comment:
We should possibly see Btc slight climb up to 8150-8300 level for may 17 daily candle (bull trap). Expecting a bigger drop to sub 7500 in couple of days following(may18.19 candle).