As you can see on this 4H chart, BTC is doing what it did in the past. A recovery attempt, followed by a fail and then a proper recovery back to the top of the channel. This is a good time to enter buy positions. I expect next week to be green. I don't know when and if we will get out of this bearish channel anytime soon but for right now, the odds of it heading back up to $12k are a lot better than it falling down to $5k like a rock unlike some 'emotional traders' would have you believe. Good luck! :)
Comment:
Comment:
Big Buy Walls on Poloniex and Bitfinex. Sell Orders being taken off.
Comment:
If this was happening near $11k or $15k, I'd be out now with a small loss but if this is not the bottom, then we're very close to one and the risk of closing at a loss now to buy back in at a lower point is much higher compared to holding. BTC is heavily oversold at the moment. I don't see it going much lower. If you close now thinking you'll buy back at a lower price, you may not even get the chance because I see a lot of buyers in the 6 to 7 thousand area and it could all happen very fast. At the end of the day, it's your money and you get to choose what to do with it but panic selling is disastrous from any perspective.