I said few days ago (see the link below) that for the bears an encouraging sign for them would the 3D close below MA200 (orange trendline). This happened two times before since 2017. In the both events BTC has fallen 45-50%.
On the other hand we can see another bad sign for the technical perspective: 3D MA50 crossing down MA200 which could trigger the fallen into a medium bear market. Last events took 6 moths the longest (Nov-May 2018) . Which added to the current fall since Nov'21 it would be almost one year recovery and accumulation.
From here the same pattern could pose BTC at 22k level, the same as 1W MA200 is now hovering.
Anyway I don't foresee any other apocalyptic results from now on. BTC always found a way to surprise all of us.
Indeed 32k is lowest close in 10 months and the people have all reasons to be bearish. The war, the stocks, the technicals / trend and so on.
Do not despair, soon we will see green candles again!
Don't even think that someone knows where the tops or bottoms are. Stick to your plan and wait for the market come over you.
Best regards 👍
On the other hand we can see another bad sign for the technical perspective: 3D MA50 crossing down MA200 which could trigger the fallen into a medium bear market. Last events took 6 moths the longest (Nov-May 2018) . Which added to the current fall since Nov'21 it would be almost one year recovery and accumulation.
From here the same pattern could pose BTC at 22k level, the same as 1W MA200 is now hovering.
Anyway I don't foresee any other apocalyptic results from now on. BTC always found a way to surprise all of us.
Indeed 32k is lowest close in 10 months and the people have all reasons to be bearish. The war, the stocks, the technicals / trend and so on.
Do not despair, soon we will see green candles again!
Don't even think that someone knows where the tops or bottoms are. Stick to your plan and wait for the market come over you.
Best regards 👍
Comment:
#BTC is entering the green area which has been a point of reversal in early 2021 and mid-2021
Comment:
The traditional market decline now looks what we saw in March of 2020 during the worst of the COVID crash.
For crypto market it was again a bloodbath.
But this time I'm not afraid to say I was prepared much better than the other events. I wish to prove myself that dollar cost averaging is a good strategy with my setup.
The overwhelming majority people don't have the time, skills, or cold-bloodedness to day trade or even swing trade.
For crypto market it was again a bloodbath.
But this time I'm not afraid to say I was prepared much better than the other events. I wish to prove myself that dollar cost averaging is a good strategy with my setup.
The overwhelming majority people don't have the time, skills, or cold-bloodedness to day trade or even swing trade.
Trade active:
Nice break out today. Let's see how it will close.
If market will close a green today I think we could see a really sexy week.
If market will close a green today I think we could see a really sexy week.
Trade active:
Hello there!
I haven't given up on this post and even though BTC has taken a direction opposite to my goals since then, I always aim to never be caught off guard. And when it's more painful, I can still make one or two trades and stay in motion. So, with a little patience, I've almost reached the same point, but with a slightly fatter portfolio :)
I wouldn't be surprised to see another candle closed in this very tight range. I March wouldn't offer us more than chop (meaning that I should watch altcoins closer). But I hope April is going to bring an explosive move.
I haven't given up on this post and even though BTC has taken a direction opposite to my goals since then, I always aim to never be caught off guard. And when it's more painful, I can still make one or two trades and stay in motion. So, with a little patience, I've almost reached the same point, but with a slightly fatter portfolio :)
I wouldn't be surprised to see another candle closed in this very tight range. I March wouldn't offer us more than chop (meaning that I should watch altcoins closer). But I hope April is going to bring an explosive move.
Trade active:
I have seen other opinions on this subject and I believe that BTC could and would even be advisable to undergo a correction somewhere in the range of 20.5k or even 19k, forming an ABC correction from a possible wave 5 of the impulse from 16k to 25k. This could lead me to think that there are high chances for BTC to climb back up to the 29k range, and then subsequently correct again and find a support zone at 20-22k. Additionally, we could give decreasing chances to a wave 5 (v) of the descending triangle that started in June last year, which could even lead BTC to around 14k. Regardless of these two directions, I know there's a game to be played... I'm just waiting for my turn :)
Trade active:
The Elliott wave theory proposes that the movement of BTC's price may follow different wave patterns, such as 12345 followed by ABC or WXY (but hopefully not WXYXZ 🙄). Regardless of the specific pattern, it is crucial to pay attention to the price level as it could signal a significant turning point in the market. As per the Elliott wave theory, the next development in BTC's price movement may trigger important movements in the market, and traders should be mindful of these patterns when formulating trading strategies.
Trade active:
Which route seems more likely for BTC? It will be very interesting, won't it? Do you have any pros or cons opinions regarding this chart?
Trade active:
Somewhat, this idea supports the one from March 3rd and complements the one from last year in May.
