Bitcoin have been under this down trendline for couple of weeks , any increase in the price is a bulltrap unless other wise is proven (meaning unless this trendline is not broken, Bitcoin is bearish) Always keep an eye, if you want to ride these daily waves make sure to set a sell loss just in case the price drops back down.
~DCFreak
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1st encounter with the down trend line BTC went from 19k to 11k (9k difference) 2nd encounter it went from 16k to 12k (4k difference)
Upcoming 3rd encounter it goes from 14.8 to __k (__ difference)
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Its getting close to the trend line... up or down? we shall find out.
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broke up, need sometime to confirm that its not a bull trap, lets wait for a 1hr candle to close about the down trendline.
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The rise is driven by news that on of early facebook paypal investors bought 20 Million dollar worth of bitcoin in 2017. So people said oh an well known investor believe in bitcoin, lets buy.
Technical analysis can't predict such things. good luck.
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downtrend line was broken, price is holding pretty well. However, its moving side ways. I will try to update this idea as soon as I can. For now, its moving sideways.
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Will have an update soon. Sorry guys, I'm having a lot of in real life issues and it getting the best of me.
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As expected, I was waiting for another big drop. This could be it, or could be the beginning of one.
If this is it, then alts will have one more huge increase then BTC will start a new cycle.
If this is the beginning of a new fall, all alts will keep going down, BTC and ETH will go to really low values, like more than a 50% correction as mentioned in previous analysis.
Thx for analysis DCFreak, ive been fallowing for some weeks, i really hope all your personal issues and matters get better, blessings.
Jonahsin
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Thanks for the analysis, wish you well in whatever circumstances u are having!
therealno0b
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For how long, mate.? I already hit my panic button and sold all my coins to lock in profit.. :o
I still have faith in alts tho.. When do you think is the right time to get in again.? Or should I buy back and hold.? Please enlighten us..
And welcome back.! Thanks again for these analysis, they help people..
Wherever you are I hope you're okay.. :)
MrRenev
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This is so dumb -.- Let' sjust buy bitcoin because we heard a random story!
If I was at home I would have bought some alts that dipped as a result.
And can't use buy orders in advance for such things...It's not like a support being hit
prefabsprout
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awesome work. did i fall in the bull trap or can i eat lunch in peace?
DCFreak
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@michaellanducci, the rise is driven by news that on of early facebook paypal investors bought 20 Million bitcoin in 2017. So people said oh an well known investor believe in bitcoin, lets buy.
Much appreciation for the shared knowledge.
As a newbie(such as i), it's better to follow the advice handed down by the big boys.
I'm reading and liking every idea you post. ;-)
Thank you.