Hello,Traders! BITCOIN broke the falling resistance And is headed in the direction of the horizontal key level The pair isn't there yet, thus I think there is still some way to go But when BTC hits the resistance properly I am expecting a bearish correction To retest the falling support below! NOTE: I am expecting BTC to range all summer Thus the two horizontal levels at 42k and 29k Are the range boundaries from which the pair will keep bouncing off Buy! Like, comment and subscribe to boost your trading!
You remind of monetae_anon he had 5000+ followers before the last rally. He constantly short btc between 7k-10k range. He possibly lost his money and magically disappeared from this space. Your negativity and resisting for a change will hurt you on the long run unless you use adaptive a strategy for new market conditions. Again I can not see any reasoning behind your comments. Do not get me wrong .Everybody can make a mistake and be wrong about this but you have no reasoning for your comments. Stop spreading the collective fud ! 42k can be problem only when everybody thinks that way. What I can see is we may have a bit of hard time at the level just because people like yourself trying to tell people that is a problem zone but eventually it will break and you will be behind! Again I am not saying that we will go to100k all of a sudden but at least we need to see levels between 45k-48k to figure out future direction.
DrStein
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@SpaceCatZ, any thoughts then about the upcoming death cross?
SpaceCatZ
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@DrStein, Death cross is one single indicator out of so many. By the time you reach death cross , most coins are already down by a lot so do not really mean anything. Please just ignore it like we ignore golden crosses. So many people out there with a limited knowledge about crypto's spreads the death cross idea like virus! Most important indicator is Volume rest is pretty much guidelines and personal interpretation.
DrStein
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@SpaceCatZ, volume is low right now and overall this bullrun's volume is much lower than the previous one.
SpaceCatZ
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@DrStein, volume will increase above 42k. This is all mental games. People did not buy btc @5k. why? Because of a fear! At that point they though ,they could buy it at sub1k. They missed a big opportunity then! Very same people bought btc @50k without hesitation. Why? Because of greed! Very same reason people did not buy at low 30k because, they always think we are going to go a lot lower. Most important tool here is patience and finding reasonable entry point. However we could go lower or higher on daily fluctuations. That does not change the fact of overall direction!
DrStein
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@SpaceCatZ, so what signal or indicator do you need in order to accept that the trend is bearish?
paulconquer
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@SpaceCatZ ....Be charitable with your comments.
The guy is doing a great job.
If you think his analysis isnt ok,analyse and show us why you think what you thought is the way to go.
We are all here to milk the market and be okay and not to start diceying one another