hi guys. yes, we dropped. like 200 dollars. now, i have shown possibilities of breaking down too, at least to this level 6300. it is expected. this level is important, we are being supported by long term bottom support from august. that means, it will not break down now. no, not yet. it will definitely show upward movement, before it drops down.
this is the 4hr chart. stoch rsi, rsi are all bottom. considering the importance of 6300 support, we would try upwards in coming days. daily ichimoku clouds are thick at november 5~7th, so btc needs to move before then. otherwise, we risk dropping down. that means we need to move up this week.
target should be short term 6400, but if we break the resistance level at 6400, we will should up to 6500/6600. if we even break that we can even see upwards.
so 6300 is where we touched this wedge line support, and it must bounce at least to 6400 or more. it is making a bullish div on time frames.
of course we can drop. if we break 6100, i believe market will become bearish and we drop to 5.5k or even below. however, even we do drop low like that we will go up high, and i believe btc can go to 8k.9k or even 10k at peak. so alts dropped yesterday, but most of them maintain there uptrend channels. many fell to the bottom of the uptrend channels. some had good retracement, but most of them, did not break their channels.
coins like blocktix, i believe it will reach max 1dollar or more in the end of the year. i have loaded with this coin at 0.19dollar. this price is critical, and if this price breaks down below, with btc going below we definitely need stoploss. but, at the moment i am holding.
today, i bought steem dollar too. at 0.9dollar. this i believe will show a GIANT move, maybe up to 10dollars even. i am bullish on the OBV accumulation levels, and long term view of this coin. this coin is also some reason i think btc would not fall so low. this is because steem dollar tends to defend 0.9~1 dollar level.
anyway, even though, whales would want to break the alt uptrend channels and dip. that is okay. everything will be compensated, i will buy more at below levels if it comes.
this alt trade is due only until end of DEC, and early JAN. market will consolidate and retrace for few more month after bouncing. i believe BTC will hit 8~10k until end of year, and it will retrace to 7k or 6.8k at lowest after huge pumping.
so guys load up. DO NOT CARE ABOUT SHORT TERM DROPS. SEE THE FOREST, NOT SMALL TREES! now is time to accumulate. please, shorters, do not short anymore and think about swing trading this. shorting, scalping few hundred bucks, make your trading habit in scalping. that means, you only get small profit when you can get big profit.
i had the same habit too, until i began to realize this long tunnel of dropping will end in a month. it might now end, it could drop heavy. but, long term, this will explode. see all my last posts, where i shorted from 8.5k, 6.8k etc. i did it because we are still in the downtrend tunnel. i was not happy even i made good profits. however, this downtrend tunnel will end pretty soon. it only needs 3~4 more weeks, and we are going to the moon.
you see, the cycle of trading, is what you guys need to know. end of the year, all assets pump. crypto, stocks, real estates. expectation for 2019, new year, new innovation, new growth is what drives money market. especially when stock market dropped now the answer is obvious. where do firms and whales and people profit? bingo. crypto comes again.
compensate yourself with cash. you guys deserve it for so long suffering from this bear market. we will soon see a bull market.
this is the 4hr chart. stoch rsi, rsi are all bottom. considering the importance of 6300 support, we would try upwards in coming days. daily ichimoku clouds are thick at november 5~7th, so btc needs to move before then. otherwise, we risk dropping down. that means we need to move up this week.
target should be short term 6400, but if we break the resistance level at 6400, we will should up to 6500/6600. if we even break that we can even see upwards.
so 6300 is where we touched this wedge line support, and it must bounce at least to 6400 or more. it is making a bullish div on time frames.
of course we can drop. if we break 6100, i believe market will become bearish and we drop to 5.5k or even below. however, even we do drop low like that we will go up high, and i believe btc can go to 8k.9k or even 10k at peak. so alts dropped yesterday, but most of them maintain there uptrend channels. many fell to the bottom of the uptrend channels. some had good retracement, but most of them, did not break their channels.
coins like blocktix, i believe it will reach max 1dollar or more in the end of the year. i have loaded with this coin at 0.19dollar. this price is critical, and if this price breaks down below, with btc going below we definitely need stoploss. but, at the moment i am holding.
today, i bought steem dollar too. at 0.9dollar. this i believe will show a GIANT move, maybe up to 10dollars even. i am bullish on the OBV accumulation levels, and long term view of this coin. this coin is also some reason i think btc would not fall so low. this is because steem dollar tends to defend 0.9~1 dollar level.
anyway, even though, whales would want to break the alt uptrend channels and dip. that is okay. everything will be compensated, i will buy more at below levels if it comes.
this alt trade is due only until end of DEC, and early JAN. market will consolidate and retrace for few more month after bouncing. i believe BTC will hit 8~10k until end of year, and it will retrace to 7k or 6.8k at lowest after huge pumping.
so guys load up. DO NOT CARE ABOUT SHORT TERM DROPS. SEE THE FOREST, NOT SMALL TREES! now is time to accumulate. please, shorters, do not short anymore and think about swing trading this. shorting, scalping few hundred bucks, make your trading habit in scalping. that means, you only get small profit when you can get big profit.
i had the same habit too, until i began to realize this long tunnel of dropping will end in a month. it might now end, it could drop heavy. but, long term, this will explode. see all my last posts, where i shorted from 8.5k, 6.8k etc. i did it because we are still in the downtrend tunnel. i was not happy even i made good profits. however, this downtrend tunnel will end pretty soon. it only needs 3~4 more weeks, and we are going to the moon.
you see, the cycle of trading, is what you guys need to know. end of the year, all assets pump. crypto, stocks, real estates. expectation for 2019, new year, new innovation, new growth is what drives money market. especially when stock market dropped now the answer is obvious. where do firms and whales and people profit? bingo. crypto comes again.
compensate yourself with cash. you guys deserve it for so long suffering from this bear market. we will soon see a bull market.
Comment:
btc short term. bearish rising wedge in play, which, will break down eventually to 6300 or even 6200. after that we can go up, but deadline for this is november 5th~6th, when daily ichimoku cloud becomes thicker.