I present to you my long view on BTC and his flawless moving which left many in dismay.
When you look at the big picture it kinda makes sense right?BTC as leader and highest ranking crypto coin is the only one that had respect FIB RETR actually played out above 50%.As you all well know, after failures to retrace up BTC has been forming a wave towards it's long historical support zones around 5.5 - 6k .As i showed you in this chart with blue trend line, BTC failed to close ALL CANDLES above that resistance line which you can zoom in for better view.So the obvious choice is too seek push-rebound from it's previous support line.If that line is to be broken, only then we can see BTC in it's lows since 2017 at 3 - 3.5k range.For that to happen we first need to test that 7k FIB RETR, and we need BTC to close both candles below 6.9k.Only then we can expect down fall to strong support line around 5.5k.
As decision has been made that all alts shall be purged (mostly), i have strong belief that without any fundamental news BTC will reach that support line and test it.
As a long term HODLER what are your options now?You have 2 buy entries at 5.7k and 3.5k range in case of emergency.BTC is too important and big to fail, once this winter of crypto is over believe me you will laugh how accurate and predictable it all was.
As for the day traders i'd say to rely on short term time frame would be proper solution, with buy orders at 6.9k and 5.7k are best solutions possible with tight SL at 1k down each.
I hope this helps you lot, i appreciate any comment regarding the subject.
L-C and all best.
When you look at the big picture it kinda makes sense right?BTC as leader and highest ranking crypto coin is the only one that had respect FIB RETR actually played out above 50%.As you all well know, after failures to retrace up BTC has been forming a wave towards it's long historical support zones around 5.5 - 6k .As i showed you in this chart with blue trend line, BTC failed to close ALL CANDLES above that resistance line which you can zoom in for better view.So the obvious choice is too seek push-rebound from it's previous support line.If that line is to be broken, only then we can see BTC in it's lows since 2017 at 3 - 3.5k range.For that to happen we first need to test that 7k FIB RETR, and we need BTC to close both candles below 6.9k.Only then we can expect down fall to strong support line around 5.5k.
As decision has been made that all alts shall be purged (mostly), i have strong belief that without any fundamental news BTC will reach that support line and test it.
As a long term HODLER what are your options now?You have 2 buy entries at 5.7k and 3.5k range in case of emergency.BTC is too important and big to fail, once this winter of crypto is over believe me you will laugh how accurate and predictable it all was.
As for the day traders i'd say to rely on short term time frame would be proper solution, with buy orders at 6.9k and 5.7k are best solutions possible with tight SL at 1k down each.
I hope this helps you lot, i appreciate any comment regarding the subject.
L-C and all best.