I have been using the same support areas and predictions since: 3 and a half months ago. A lot of people want to play the short.. but I always am saying save your time and money for the swings. Set those notifications on your phones when another support is broken or surpassed. The RSI, the Volume, the momentum are all essential to making the final decision.
HOWEVER! You cannot follow these so much in a market bubble like this and when there are clear patterns that are obviously replicating. Good news is the volatility has gone down dramatically believe it or not. Compare the beginning of the crash all the way to the present. Why is this good news? Alt coins and investments are a lot more stable and you wont lose as much money as before.. not the best good news, but were working on it.
Now this post is about the W that I notice goes along with the 1,2,3 patterns in between.. We are at the end of our present W, so most definitely expect a pull back down BTC.. I see a lot of fear happening during this time when BTC hits the 5500 mark. I've changed my risky buy area to regular buy area because the past explains it all.
" People never learn", "History always repeats", "buy when you hate it, sell when you love it".
Personally my orders are set between $5000 - $4000
"May The Trends Be With You"
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Okay so just quick update.. I've been seeing this since I started posting, and I need a quick vent on the matter.
When people In their post say.... " We need to stay above this line if we are going to be safe" .... yaaaaaa no drop them.... unless you are actually creating stop-losses which most traders here are not, but even so... just no please save your time and money this market right now short wise is so unpredictable you mine as well just give your money to charity.
It really doesn't help, and brings emotions, uncertainty, FOMO, and you will lose money. The point is to figure out with logic and previous data combined with the present data.
Swing trade longer big dips.
May The Trends Be With You!
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Still On Course!
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A Prediction of movement
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Perhaps like this as well
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Woke up today and the drop happened right on point for my first assumption. Keep patience were going down!
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I hear a lot of talk about BTC currently at the bottom or has already bottomed.. Just remember they have been saying this for about 2 months or more now.. Remember "people never learn".. it was a little oversold and needed some up time for a brief moment before It travels further down.. We expected this sideways action, people are acting like this wasn't suppose to happen.
@garyuws, when was there a pump? A pump would be a lot steeper and more then a $300 spread. 6850 is just volitility of BTC. It's best not to look at present price but to analyze the past to make your decision. If you have any questions then please! I'd like to help! I will give you a straight up answer :) ... May the trends be with you
madetrades77
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@furiousmiguel, I think you are too caught up in semantics. Have a nice day.