Bitcoin Next Move Outlook for week commencing february 1st
Hello guys whats up? Another analysis is here for you. Look at that nice green and red candles making new lows day by day. They are so strong and sharp. When does it end? Next week or a week after? When comes that day when we fall at the very bottom and price turns north? Desperate time desperate measures. Despite we all love that shiny Bitcoin we must sell it. Yes sell it all which almost bring tears to my eyes but it is only because we want to buy more bitcoins at the bottom from weak hands.
Now Bitcoin again touched downtrend line and it will decline sharply to the bottom line. First and weak resistance is at $370 stronger resistance is at $317 which will very probably be at the very bottom and offers reasonable point for buying bitcoin. However on some exchanges price could drop lower, maybe on Bitstamp or Bitfinex we can go as low as $299. Maximum possible decline during this decline could be $282 but it might b just an unexpected candle shadow on OKcoin or Bitstamp. From $320 price will recover and goes back to $370. However its not clear whether price decline more. Once it breaks downtrend line we can expect strong uptrend which is aimed at $600 with resistance at $400 and $500. Dont forget to use leverage it can multiply your profits but be carefull. Kids dont try leverage it home but only under adult supervision. Thumbs up !! :) and let me know what do you think in comments below :) How much profitable trades did you make?
Now Bitcoin again touched downtrend line and it will decline sharply to the bottom line. First and weak resistance is at $370 stronger resistance is at $317 which will very probably be at the very bottom and offers reasonable point for buying bitcoin. However on some exchanges price could drop lower, maybe on Bitstamp or Bitfinex we can go as low as $299. Maximum possible decline during this decline could be $282 but it might b just an unexpected candle shadow on OKcoin or Bitstamp. From $320 price will recover and goes back to $370. However its not clear whether price decline more. Once it breaks downtrend line we can expect strong uptrend which is aimed at $600 with resistance at $400 and $500. Dont forget to use leverage it can multiply your profits but be carefull. Kids dont try leverage it home but only under adult supervision. Thumbs up !! :) and let me know what do you think in comments below :) How much profitable trades did you make?
Trade active:
We are still under that divergence between price and oscilators on weekly and daily chart.
Downtrend is confirmed by triangles from which price always springs down. Last time it was that nice head and shoulders pattern and smaller triangle which can be seen on H4 or H2.
Downtrend is confirmed by triangles from which price always springs down. Last time it was that nice head and shoulders pattern and smaller triangle which can be seen on H4 or H2.
Trade active:
Would love to rectify that tiny blue lines which shows downtrend. it moved to th side accidentaly but unfortunately it almost impossible to draw them right....