Since 2011 to 2018 we went once below Weekly RSi of 45. We had a bear market of 300 days once we drop below(August 2014 to July 2015 Bear Market).
Also the price of 6900-7100$ lies the 200 days simple moving average ( on the daily chart) also Horizontal support since the bull run. i have it drawed on some of my other published Posts. I think its very important for you guys to take a closer look at this, im slowly turning bullish from here. Not saying it cant drop to 5500-6000$ but I have no interest to find the perfect bottom.
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We was right about the weekly RSi trendline, didnt go below 45 on the weekly, we also added to our BTC stack for swing trading around that level and are about 100% in plus, selling 4o% off, rest wait for confirmation..
THere is a channel between 6300$ - 9000$ forming, we can swing trade along these prices.
For me to turn bearish the price has to go below 7700$, to turn bullish btc has to up towards 11500 and break the strong resistance with volume.
Greetings DanielDanield6
how are you seeing these latest BTC movements in the 9000 area
Do you believe in bull trap?
DanielDanield6
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@dedalo, wait for confirmation. Right now this is a no trade zone for me.
dedalo
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regards DanielDanield6
as you see now the movements of BTC, real rise or pump that goes down again ....
DanielDanield6
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@dedalo, hey dedalo!
Regarding BTC, it has resistance at 8500$, then a heavy resistance at 9200$, im not sure it will break the 9k area thought, if it does we have to test the main resistance around which we did 3 times and rolled over at 11700$ per BTC.
IF the price manages to go past 12800$ area its a clear BUY on my side = change of behaviour ( you want to buy the break out)
I do it like this: i have lets say 10.000 in USD invested -> 30% i trade the up and downs. 70% i dont touch because you dont want to miss out in case of FOMO :)
best regards
Snacks
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I’m all in fiat....ready to back the truck up....may need help loading bags ;)
Snacks
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HEy buddy hope all is well with you. Thanks for the TA...some good info and good advice
DanielDanield6
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@Snacks, im doing wonderfull, did some swing trading according to my TA, cant complain though:)
i hope you are ready to buy some cheap Alts my friend. Market Sentiment shoes bottoming sign, Google trend search on crypto is very low aswell.
Take a closer look for "ADA cardano" i did some TA on that coin, retraced almost 90% USD wise.
how are you seeing these latest BTC movements in the 9000 area
Do you believe in bull trap?