Nuseii
Long

Tale of Bitcoin's Current Battle

OKCOIN:BTCUSD1W   Bitcoin / Dollar Forward 1 Week
484 1 4
We are currently in a strong uptrend from 230.
To maintain this bullish nature and bring bitcoin back from the dead we will need to Beat the following targets:

311/316/331/336/350

There are interim fibonacci targets/harmonic targets listed.

We need to remain unbias and wait for price validations/rejections and for that we have a Bear scenario as well.

Our bear targets are:

290/286/275/268/263

Once we are under 260 we are once again under a key equilibrium point and have returned to sub-optimal dead-cat bounce levels.

I'm long, but you should make your own case as time develops and in conjunction with your own analysis.
Nuseii
2 years ago
I am glad i stated that my position was Long as it showed my bias. I'm still trying to fully eliminate this and go purely off price-action in a reactive fashion. Predicting in a manner like this, with a roadmap is fine as long as you lay out both scenarios as i have with the Bull/Bear Scenario.

What does not please me is to have Long stated in the title and a subsequent $20 drop 5 days later. Even if this pans out, i think i will be leaving the Long/Short out of these.

Whether you're an investor, playing low leverage, or high leverage, it is simply not wise to adopt the notion of bullish or bearish. Trade what you see, not what you think or hope.

Thinking is a waste of time, you should simply reflect on existing information and predetermined actions. Hoping is not a strategy.
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