Hello everyone
Today is a beautiful day for everyone involved in cryptospace. Finally a big green candle appeared in this red bear market. We have to be happy but not stupid today, do not rush things and make decisions now when your happy, to optimistic and when you think that life is a happy meal. Try to stay realistic and put your emotions off.
What happened
-so we saw a month and a half, price-action between 5.8K and 6.8K. The bulls took the upper hand a couple of times, but the bears were defending the 6.8K level with great success. We’ve got rejected more than 8 times at 6.8K and it became a huge resistance line. So as I told in my idea 5 days ago: we were creating a head and shoulders pattern. (very bullish) and now we've seen the outcome of that pattern.
What now? (short term) next 3 to 4 days
-so in short term we have to look at the next couple of days. There are 3 possibilities.
1) still going up with big green candles: that would mean that the momentum is still not over and that we would possibly break the next resistance at 7.8K.
2) we are holding current levels: that would be great news, obviously the bulls are in control at the moment. If we could defend are new highs, that would be a very bullish sign, if we can hold the same level for 3 days then I would consider to buy more. (that would mean that the bears are heavily injured).
3) we’re going down: that would mean that the momentum would be over and that we’re overvalued at this moment. Prices should then go down to the first support at 6.8K
What now (long term)
Possibility 1: we go down again and go below the 6.8K level (first support). Then we will go back to the same story as last month. Price action between 5.8K and 6.8K. That isn’t really bad news if BTC stays stable. ( low probability) (in green)
Possibility 2: we now stay in between 6.8K and 7.8K (our next resistance line). That would mean that BTC stays stable and that the bulls are staying in control, this would be very bullish, it would be the first time in 7 months that the lows will climb higher. I would love to see BTC stabilize between 6.8K an 7.8K for at least a week. Then I will place my orders at 7.2K (where the trade zone starts), 7.1K, 7K and 6.9K because I believe that the 6.8K support will be strong enough ( highest probability). (my prediction)
Possibility 3: we see a big bull run, then our first target would be at 10K. ( middle probability).
My orders
As I said before, I think that possibility 2 has the biggest probability. I will wait for a few days to check the reaction from the market short term. If we stay stable at that level ( for exemple: 4 days at 7.4K.) then I will buy at 7.4K. Nevertheless, I think that we will stay in between 6.8K and 7.8K and then I will place my orders at 7.2K 7.1K,7K, and 6.9K. ( the dips between 7.8K and 6.8K) with stoploss at 6650 because that would mean that we could possibly go back to 5.7K.
I would love to hear your guys reactions on this.
Give it a like if you appreciated it
comments and thoughts are always welcome
My orders are my thoughts and are no financial advice!
Today is a beautiful day for everyone involved in cryptospace. Finally a big green candle appeared in this red bear market. We have to be happy but not stupid today, do not rush things and make decisions now when your happy, to optimistic and when you think that life is a happy meal. Try to stay realistic and put your emotions off.
What happened
-so we saw a month and a half, price-action between 5.8K and 6.8K. The bulls took the upper hand a couple of times, but the bears were defending the 6.8K level with great success. We’ve got rejected more than 8 times at 6.8K and it became a huge resistance line. So as I told in my idea 5 days ago: we were creating a head and shoulders pattern. (very bullish) and now we've seen the outcome of that pattern.
What now? (short term) next 3 to 4 days
-so in short term we have to look at the next couple of days. There are 3 possibilities.
1) still going up with big green candles: that would mean that the momentum is still not over and that we would possibly break the next resistance at 7.8K.
2) we are holding current levels: that would be great news, obviously the bulls are in control at the moment. If we could defend are new highs, that would be a very bullish sign, if we can hold the same level for 3 days then I would consider to buy more. (that would mean that the bears are heavily injured).
3) we’re going down: that would mean that the momentum would be over and that we’re overvalued at this moment. Prices should then go down to the first support at 6.8K
What now (long term)
Possibility 1: we go down again and go below the 6.8K level (first support). Then we will go back to the same story as last month. Price action between 5.8K and 6.8K. That isn’t really bad news if BTC stays stable. ( low probability) (in green)
Possibility 2: we now stay in between 6.8K and 7.8K (our next resistance line). That would mean that BTC stays stable and that the bulls are staying in control, this would be very bullish, it would be the first time in 7 months that the lows will climb higher. I would love to see BTC stabilize between 6.8K an 7.8K for at least a week. Then I will place my orders at 7.2K (where the trade zone starts), 7.1K, 7K and 6.9K because I believe that the 6.8K support will be strong enough ( highest probability). (my prediction)
Possibility 3: we see a big bull run, then our first target would be at 10K. ( middle probability).
My orders
As I said before, I think that possibility 2 has the biggest probability. I will wait for a few days to check the reaction from the market short term. If we stay stable at that level ( for exemple: 4 days at 7.4K.) then I will buy at 7.4K. Nevertheless, I think that we will stay in between 6.8K and 7.8K and then I will place my orders at 7.2K 7.1K,7K, and 6.9K. ( the dips between 7.8K and 6.8K) with stoploss at 6650 because that would mean that we could possibly go back to 5.7K.
I would love to hear your guys reactions on this.
Give it a like if you appreciated it
comments and thoughts are always welcome
My orders are my thoughts and are no financial advice!