BTC Not Out of the Woods Yet

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I'm finally convinced that permabulls and permabears exist in this market. There are some top traders who wait to see the first bullish sign and then they come blasting with their '"LONG" posts. There are others who are waiting for the first bearish sign and then they come blasting with their "SHORT" posts. I'm now more convinced than ever. I'm not sure yet if they actually make their investment decisions that way but that does not matter to me. What matters is, BEING REALISTIC. Most of you who follow me know that long term I'm extremely bullish on Bitcoin and a few other coins. You also know that I don't like emotions. My favorite trading elements are market psychology, technical analysis and fundamental analysis , in that order.

As of today, I'm not convinced Bitcoin is out of the woods yet. I've been closely following the price action for the last 48 hours and frankly I'm surprised how so many people make the same mistakes over and over again. If you follow my ideas, please take note of the time frame when I say "Short" or "Long". I could be "Long" on a 1D Chart and "Short" on a 1H Chart on a particular day. Anyway, name of the game here is patience. This might take a while. Keep an eye on the rising wedge . Peace Out.
Comment: We're on track.
thanks bro
do you think theres any realistic chance btc plunge to 3k or 4k? or do you logically think 6k was bittomb
fakhan leorio
@leorio, It's early to say yet and I don't really like predictions but I for one would not be surprised at all if BTC goes below $6000 and finds a bottom around $5XXX.
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