AndrewDavis5

Undecided Market Direction - My Advice

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
410 1 7
#Bitcoin $BTC - My current stance
As mentioned in my last post:
"Direction still unclear. Because of the latest events, which appear to be strong market manipulation, it is difficult to determine the current path."

Any analyst to strongly suggesting a position either way (Long or Short) isn't giving safe advice.

However I understand that some still seek advice and are worried, so here is my suggestion for now:


1) Prices have stabilized for the past few days, we aren't actively in "freefall", and I don't expect us to, within the next day or two at least.
Consider converting $USD/T back into $BTC, and trade in Altcoins for the while. I believe you can grow your BTC             assets better this way for the moment.


2) If you want to remain mostly in BTC/USD, consider my previous suggestion, of playing it safe. 50/50, BTC/USD.
This should negate/minimize losses occurring.


One cannot always predict with 99% accuracy the next direction a market will take, however, we can plan with calm and analysis, the safest options available for the moment.


We've navigated through these past few days very well, I'm glad to see that many have profited, hopefully many gaining $100's/$1000's per day! :)

Now I must get back to business work, so my posts will be less frequent.
Best of luck!
Comment: (Update)
#BTC / #Bitcoin is showing mostly bullish (upward) behavior recently.
It's attempting to breach $9000, and possibly beyond that.
So consider going Long/Buy (stick mostly to BTC and Altcoins) for now, but like I said, the market is showing mixed signals, being manipulated, so I can't call anything with high precision at this time.
Comment: (Posted 50 mins ago on Twitter):

$BTC/#Bitcoin price showing decline recently, however I recommend waiting to see how it reacts at the 0.5 Fibonacci level.
If it doesn't break that region ($8451-$8586), we could see continued upward movement into the $9200 range.

https://pbs.twimg.com/media/DV5RaigVMAUMK6T.jpg
Comment: It has been a long battle so far, both the Bears and Bulls fighting to push the market in opposite directions. $BTC Price never fully crossed my resistance line (in blue), so I've continued to hold all this time, and never signaled to sell (also been away from PC).

Comment: Very difficult to analyze where $BTC will be heading at the moment.
Low volume and persistence from both sides, Bulls and Bears, for the past day.
If you wish to consider selling $BTC into $USD/T, $8320 - $8150 could be an appropriate rebound range.

Comment: $BTC could be forming a Bullish Triangle.
Breakout is possible (but not confirmable)

Comment: $BTC broke out of the bullish triangle.
Let's see if we can get to ~$9200.

:) thanks for the update good post
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