The market formed a new swing low which can be used for drawing the uptrend line. We got a price reversal from 7800.00 support level and this zone can be good as a starting point for a new upward wave. RSI confirmed the price reversal. MACD histogram supports the upward movement. DMI confirms range market conditions. Probably we'll see a sideway movement within several days and after that the price will start a new movement. Will the market rise or fall? The weekly time frame is still bullish. For the daily chart it will be good if the price continues the upward movement and break 10000.00 level. In such way we'll have higher highs and higher lows which will confirm the uptrend based on the daily time frame.
If the price breaks the support zone formed by the uptrend line and 7800.00 support level, it will be a good bearish signal. We should be ready to see the falling to 6500.00 level again.
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The price broke the local uptrend line. It was a signal confirming the further falling. Without strong support from the buyers, the market can reach the previous market low at 6500.00 level. Will it reach this level? We'll see. The support line from the daily and SMA50 from the weekly time frames can stop and reverse the market.
You want to beat the bears? Then don't buy their coins. Force them to hold their bags. Prices will gradually increase, and shorts using leverage will be stopped out of their trades. In other words, they will lose. We cannot beat these guys as long as we continue to buy their bags. They laugh when we lose. Don't buy their coins!
UnknownUnicorn2454397
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@rev214us, pretty sure buying is a bullish action.
kardia
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@gainsbeast, Buying doesn't necessarily make a person a bull. Ever heard of pump and dump schemes organized to take out bulls? Ever heard of market manipulation done by exchanges to take out stop losses?
UnknownUnicorn2454397
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@rev214us, No, never heard of such things.
kardia
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@gainsbeast, It would be wise for you to learn about these things as it could help you to avoid losing money on bad trades.
UnknownUnicorn2454397
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@rev214us, Good to know. Next time I want to short, I will buy, because the exchanges make buying bearish. Understood.
kardia
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@gainsbeast, No, that's a bad idea. Better to learn how to read price action, and to have an understanding of where stop loss hunting usually occurs. Read up on false breakouts. This is very helpful: babypips.com/learn/forex
lucky7btc.com
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DLavrov, you should really close your pay services. You are literally around 20% right on your calls there. Maybe you should just come back here and post a few calls like you used to. Because the track record on your pay subscription services is horrible.