Here we have another Bitcoin chart which we made for you guys to outline various circumstances and to show you best entry positions for various investors whether you're into long term or short term.
As is visible on chart, our best support in term of firmness and bounce potential is in zone $5,700 - $5,800 depending on which exchange you're using. This support has been with us for long time since November of last year.
If that support was to break, we would be looking at our secondary support around $5,300 which also has good bounce potential, however before our main support is broken, let's not look at it.
In regards to entry zones!
1. Investors who are ok with entering in high risk market, therefor increasing their loss/profit chances can look at entry point around $5,800 zone +- $75
2. Investors who want safe entry positions should begin looking at either of the 3 of outlined entry positions. Short to long term can enter at $7,700 - $7,800 with Stop Loss at 2.5% - 7% from purchase price, depending on your risk taking ability.
3. Investor who want safe entry for medium to long term with lower risk, enter at $10,000 or around it. This is a point of resistance and on firm break should become a great entry point for you and numerous other investors.
4. Investors who want safest entry point to lock their positions for long term will enter around $12,000
Enjoy this trade, advice my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
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Please LIKE this chart guys, gives us huge support!
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Members can contact me directly with any questions
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Support is holding, this is very intriguing
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Market is weird today, but ripple bottom is confirmed, now let's see if it's a bounce or a drop
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LIKE if you agree
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Just a big L O L
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7% profit on all trades instantly
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I see us going on a mini bull run after we go over $6,290 line
Trade active
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Still do use stop loss if you want to minimize risk. $200 should be sufficient but if you want to minimize it even more then $100
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Watch for that resistance line, if we break it, we go on mini bull run
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Next target $6,500 - then - $6,800
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Party mode engaged
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Solid movement for ones. Will we be able to hold it?
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$6,500 needs to be broken today for uptrend to continue