[BTCUSD] Nothing to fear for now, Maybe if it dips lower
Hi everyone,
I have been following the market and I do agree with you that it doesn't look good. but for NOW we are still good in the chart. It is true that the buyers are missing, which made the bears powerful, but I see this as an opportunity.
In the chart you see that the level we reached is the perfect lvl for the buyers to get in. So we need more candles to be certain of what is going to happen.
Ichimoku is a powerful tool that gives you a lot of indication. It is true that the kumo looks bad in the weekly chart but the red line shows that we are still good. For now... but we need more candles !!
in the monthly chart we see a correction which I find normal for the situation, it's just that fear wins people that are not TA so they do not understand what is going on so they take out their money ASAP because they think they loose everything.
A lot of people neglect the Chikou Span which is the yellow line, When Chikou hits SPAN A or SPAN B of the kumo, it is a support as well, so these next days are crucial. But I am positive that Market sentiment is still good, it is just fear and people bet on a alot based on emotion.
The market depends on perception, when people see it is a loss others see the biggest opportunity of their life, so which people are you?
If you like, click on that thumbs up and share. if you want me to analyse another pair, put your comment down bellow .
Namaste.
I have been following the market and I do agree with you that it doesn't look good. but for NOW we are still good in the chart. It is true that the buyers are missing, which made the bears powerful, but I see this as an opportunity.
In the chart you see that the level we reached is the perfect lvl for the buyers to get in. So we need more candles to be certain of what is going to happen.
Ichimoku is a powerful tool that gives you a lot of indication. It is true that the kumo looks bad in the weekly chart but the red line shows that we are still good. For now... but we need more candles !!
in the monthly chart we see a correction which I find normal for the situation, it's just that fear wins people that are not TA so they do not understand what is going on so they take out their money ASAP because they think they loose everything.
A lot of people neglect the Chikou Span which is the yellow line, When Chikou hits SPAN A or SPAN B of the kumo, it is a support as well, so these next days are crucial. But I am positive that Market sentiment is still good, it is just fear and people bet on a alot based on emotion.
The market depends on perception, when people see it is a loss others see the biggest opportunity of their life, so which people are you?
If you like, click on that thumbs up and share. if you want me to analyse another pair, put your comment down bellow .
Namaste.
Comment:
We still need a 2 or 3 candles on the weekly chart, but it looks like support is still there, maybe the price need to go a LITTLE lower for the buyers to come in in force.
