tonimacaroni

$BTC my current point of view is bearish.. long term bullish.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
First of all i must say that i didn't see this dump incoming.. i try to learn and master TA since 7 months and i am still a beginner so just keep in mind that this is just an idea and nothing more from myself. $BTC broke my idea of the fibonacci retracement level 1 + weak support line.. volume is increasing a bit but way to less in my mind to hold or even push from this strong dump. weekly(!) and daily RSI is oversold so it could mean that we could maybe see some kind of "crazy" rally in short term but for the next months i see now a retracement but this correction is more than okay. i will deffo wait for the upcoming days and weeks because i see the next stronger support on the next fibonacci retracement level (1.618) but there is also enough space for some more rallys.. for long term i would say that we will be soon in an accumulation phase until ~ late March/early April and maybe at the bottom, the one or other altcoin will move vs $BTC stronger again.

Don't forget about:
  • Risk Management
  • Don't panic at dumps like these
  • Learn from it to master further moves
  • Don't trade with your main money -> write down your trades you wanted to make -> learn from them
  • You lost actually nothing when you #1 were only investing which you can afford to loose #2 didn't sell anything in minus to fiat

I am a total crypto and blockchain enthusiast and that's why i already see Bitcoin knocking on +30-60k approximately in the middle of the current year.
Comment: rally is real.. lets see what will happen in the next two days.
Comment: feels good and bad in a way that the direction is like i was thinking.. but i think there will be another short rally and the first resistance line is a bit too close drawn.. current daily candle looks bullish again but just for shortterm.
Comment: on 4H a reversed h&s will be probably build.. so maybe $9k in shortterm and if the h&s is confirmed then we could maybe reach $11k before the next retracement again.
Comment: 1H h&s isnt completed but also not really fully lost.. the yellow circles are similar the same structure and we are above of the 0.382 fibonacci level.. if we see a strong day today then the h&s is for 0.5-0.618 back on the road! weak resistance already broken.
Comment: i can see a lot lower highs and the next one is coming again (what i think).. a little bullish push to $9.3 or BEST CASE $11k but then we will see another retracement back down cuz no strong support.
Comment: target is still in the field of view. we can reach $9,3k-9,5k but i think that it will go down for the last time again. i hope that i'm not right.
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