So, you wanna trade BTC?
Well you've come to the right place. Undeniably Bitcoin hit a parabolic move with no end in sight. I'm looking at the market and it seems to me that bitcoin may have only made the first leg up in its journey, and we can potentially see the $100k levels very very quickly... potentially 6-8Months.
I just cant imagine after so much noise from media users of bitcoin are all buying bitcoin hand over fist.
So the question is what will bitcoin do? Wel, Here are the senarios we as traders must anticipate.
Bitcoin has done a great job holding the current level of $17,500, The market volatility died down and this may be because of the futures trading. We are in a position at the moment where the market is taking a rest. We did retest the top and did a double top which we were unable to break out of. Usually after a double top bitcoin should come down and retest previous support levels. In my chart you will see two trend lines one yellow above the highs and one purple below the highs the top trend line is from the first ever bitcoin breakout it casted a trend line that is 10 years running, Its quite incredible that we are even talking about it let alone are next to it.
If we do not get any fud news or bad news... such as an exchange going out of business or a country-wide ban on crypto. We should continue working up.
My idea of what will happen over the next few days is we will see a bit of a drop to reach the bottom trend line. following that we will be forced into a wedge and break out of the top of the wedge for more upward continuation. My targets for the upward move is listed in my chart.
The scenario for if we break below this line and continue down, we will have to retest the support levels below that. These support levels are safe to say great places for people to buy. Dont forget there is a mass adaptation of cryptocurrency, and certain people are a bit crypto-crazed.
This market is very bullish, and when the bulls are in the driving seat.. especially when they are making 50%, 100%, 150%, 200%, ++++++++++++++++... There is no limit to this mania.
Good luck traders!
Well you've come to the right place. Undeniably Bitcoin hit a parabolic move with no end in sight. I'm looking at the market and it seems to me that bitcoin may have only made the first leg up in its journey, and we can potentially see the $100k levels very very quickly... potentially 6-8Months.
I just cant imagine after so much noise from media users of bitcoin are all buying bitcoin hand over fist.
So the question is what will bitcoin do? Wel, Here are the senarios we as traders must anticipate.
Bitcoin has done a great job holding the current level of $17,500, The market volatility died down and this may be because of the futures trading. We are in a position at the moment where the market is taking a rest. We did retest the top and did a double top which we were unable to break out of. Usually after a double top bitcoin should come down and retest previous support levels. In my chart you will see two trend lines one yellow above the highs and one purple below the highs the top trend line is from the first ever bitcoin breakout it casted a trend line that is 10 years running, Its quite incredible that we are even talking about it let alone are next to it.
If we do not get any fud news or bad news... such as an exchange going out of business or a country-wide ban on crypto. We should continue working up.
My idea of what will happen over the next few days is we will see a bit of a drop to reach the bottom trend line. following that we will be forced into a wedge and break out of the top of the wedge for more upward continuation. My targets for the upward move is listed in my chart.
The scenario for if we break below this line and continue down, we will have to retest the support levels below that. These support levels are safe to say great places for people to buy. Dont forget there is a mass adaptation of cryptocurrency, and certain people are a bit crypto-crazed.
This market is very bullish, and when the bulls are in the driving seat.. especially when they are making 50%, 100%, 150%, 200%, ++++++++++++++++... There is no limit to this mania.
Good luck traders!
Comment:
There are lots of people waiting for bitcoin to drop to buy the dip. Its possible that it may not drop too much. It may hit the bottom trend line and continue higher.
Comment:
TRADING;
Our trading entries are to buy the dip. If we get no dip we but over $17,200 Long with a $20K TARGET
Our trading entries are to buy the dip. If we get no dip we but over $17,200 Long with a $20K TARGET
Trade active:
Huge Resistance @ The Previous Trend Line -> This is a good place to cover your profits.
Trade closed: target reached:
$18,500 Target Reached
Comment:
Partial Out Of Your Position and let the rest run.