martin1000

BTC - BUYING OPPORTUNITIES

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear Traders

The decline on Crypto market is not finished yet.
Today we look at the final days before we will reach another main bottom (see my previous analyzes).
As you can see on the chart we have three heavy resistance red lines, black trend line and finally green line which is BTC next very possible move.
Trend line on this bear market is taking us down to retest another bottom.
At the bottom there are two resistance lines first one is ~$6000 level and second is ~$5450.
Lets focus on ~$6000 level and buying opportunities, It looks like we will have two buying opportunities at ~$7600 with bounce to ~$8200 and ~7200$ with bounce to ~$8000 level - see green line.
Then we can expect drop and very important momentum for BTC - rebound.
As you can see red top resistance line is on ~$8000 level and if BTC will not be able to grow strong above this line we can expect another fell but this time to lover ~$5450 level.
My analysis is based on current market situation and resistance lines. As you can see investors fear to jump in on 100% and awaiting for fall to be completed, on other hand when you look at the resistance lines, you will see that price falls and rises are playing exactly between these lines. Please watch carefully all indicators and signals when trading.

Good luck and Happy Trading

This is for education purpose only.

Comments

The price is 8400 now... And you call 6000 and 5450 resistance :D... Education... really ? :D :D
Reply
martin1000 FoxCharts
@FoxCharts,
Please look at the time frame and on my previous analysis.
You need to read carefully and with understanding and if you can't understand read again and ..........
This is long term and as I wrote price will not fall in one day.
Thanks
Reply
FoxCharts martin1000
@martin1000, I did ;) But you probably don't know terminology in trading... 6000... 5400... 2500... it's called support. Because price is above this zone... That's all.
Reply
martin1000 FoxCharts
@FoxCharts,
That was instructive!!!
Thanks.
Reply
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