Hello guys, here is CGcryptotrader, and the reason to share this idea is to complement the "trade idea" that I posted in 9th November (if you look my ideas you'll find it) and the execution was fantastic. In the last days we had a movement up for BTC and people started to FOMO, saying that Bull Run will happen soon, that BTC always explode in EOY and blablabla. Well, I'm not sure what will happen to BTC next days, but reading the charts, indicators, basing in techinical and fundamental, we can see a totally diferent scenario than happened before. I can't see we having a huge movement, all can happen is a huge corection of this fall.
Looking at the charts, we can see that my TA was perfect and BTC respected all points, we are now trying for the 4th time to break the $3800 region exactly like we had in $6200 (but with less up and downs). Right now I expect that we break that area, close above this level and go straight to $3400-3500. Some relief will happen, maybe a retest of $3800 or $4200, and a huge fall to $3200.
I cannot say that $3200 is the bottom, but it's a area of supply for BTC, it's responsible to think that this is the bottom. All can happen in BTC, maybe we break this region and test the $2000 area, but that would be extremely bad for miners, because this prices wouln't be profitable for then.
Let's watch, I'll keep updating you guys and sending great analysis for other coins. Keep wathing, like this idea and join our telegram!
Looking at the charts, we can see that my TA was perfect and BTC respected all points, we are now trying for the 4th time to break the $3800 region exactly like we had in $6200 (but with less up and downs). Right now I expect that we break that area, close above this level and go straight to $3400-3500. Some relief will happen, maybe a retest of $3800 or $4200, and a huge fall to $3200.
I cannot say that $3200 is the bottom, but it's a area of supply for BTC, it's responsible to think that this is the bottom. All can happen in BTC, maybe we break this region and test the $2000 area, but that would be extremely bad for miners, because this prices wouln't be profitable for then.
Let's watch, I'll keep updating you guys and sending great analysis for other coins. Keep wathing, like this idea and join our telegram!
