We will bounce test the 10650-12000$ range (previous support becomes resent resistance)
After that be prepared for a big drop to 5k to 7k range.
This will be your last chance to sell some of your portfolio coins, im reffering to EVERY COIN, since BTC will drop. The whole market with its altcoins will follow.
IF the 200 MA brakes i will add ALOT of ALtcoins during 2000-4000 BTC range.
What i mean is if you set up a investment of 10.000$
Buy 20% at BTC 6500 Range
Buy 20% at BTC 4500 Range
Buy 20% at BTC 3500 Range
Buy 20% at BTC 2500 Range
Buy 20% at BTC 2000 Range
SO, why we do that=? Because no1, no1 can tell where and when the bottom will be reached. thats why we scalpe our buys.
for now, im completely out of Cryptocurrencies, as it seems the real fall begins now.
BTC will still go lower, it needs to double test the bottom before we got really confirmation of the BOTTOM, this will take TIme (up to 2 months)
The Volume, The Volume is the key factor to watch. we still need a bottoming volume! around 3000-5000$ is a good accumulation range.
1 minute ago
Comment: why i choose 5800? simple, the Simple moving average 200 days lies below.
can bounce up to 50% up from there.
Also NOTE, in 2013 correction we went down 40-50% down from the SMA 200 , MA 200!
thats how i come up with 3k-5k
Note2: -20% fib 0.236 is a perfect buy range, 2,5k to 3,5k
it really depends on the News!
If we brake the 200 EMA Support, all the Below Buy zones are active! Me personally will invest heavily in some serious Coins. ( just me) 1. Cardano ADA 2.bitcoin 3. Ethereum 4. Stratis