Possible bounce from here back onto the wedge support then breakout on the way back up, or another bounce giving another good buy opportunity back down at the 2950 area.
@realdelboysales, Well, we are in the wedge (green lines). It's most probably going to break upwards out of it but it's just when. It's a battlefield you see. Bulls on one side pushing price up, bears, bankers and China on the other side pushing it downwards. If we fail here, expect to see $200 shaved off the price at least. There's resistance between here and the 3200 trending resistance line so any of those can be a stop point where we bounce back up.
So basically, it either breaks here... today... or grinds down along the top green line for a little while and breaking upwards from it or downwards (which is obvious :) ) and then hits a support along the way. IMO its not an ideal buy in point here, you might as well wait until it breaks through the green line. Either buy in at 4100ish with the aim of 4400+ or wait until it bounces downwards and look for an entry between 3600-3800 if supports look decent enough to hold.
madsmao
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Haha! Some "Guy" at some bank somewhere. Love it :-D
I was fortunate enough to buy in the 2950 area a few days ago. Would love another opportunity to do that.
pager30
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@madsmao, had to add my kudos...guy from the bank...burst out laugh...btc price watching stress
Adamkm
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@pager30, And it keeps grinding around sideways! oh the stress :) Someone poke it with a hot stick! goes down and we cash out/in and grab some bargain alts. Goes up and we win with BTC value increase... WIN WIN... grinds sideways... meh!!!!
Adamkm
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@madsmao, Wow nice catch on that one. I cashed into USDT around the 3900 mark and back into BTC around 3200.
madsmao
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@Adamkm, I honestly feel like I just got lucky. I'm no pro in any way, but just like to lurk around this site and try to make slightly more educated decisions based on the observations shared by the many talented people who use this site. Thanks all!
Seems like you might have also made a nice profit on your trade there, and up now again to around 4k, so will be very interesting to see what happens from here. It feels harder to call this time around.
Looking for entry point :)