The price reaches the important resistance zone at 5000.00 level. We have to watch closely for price action near this zone and be ready to act. We have 2 directions of further price movement. Upward or downward. Will it be a breakout or a reversal? If the price bounces from this strong resistance zone, we'll see a short term retracement to 4500.00 levels or SMA50. These levels will be good for new buying based on reversal signals. If you opened long trades based on my previous buy signal below 4000.00 level, as a variant, you can fix a part of profit near 4900.00 level. You can invest profit in top altcoins which are on good levels for buying. The part of long positions should be left for long run. If the market breaks this resistance zone and moves upward, you will stay in the market with the part of volume. MACD confirms upward movement. ADX line rises and it gives a signal that the price movement get more power. We must be ready to see upward movement to 5500.00 and 6000.00 levels. If so, the rest part of long trades will give you additional profit. Of course, you should decide by yourself how to manage your opened positions. I just share with you my plan how to trade in this market when the price is not far from 5000.00 level.
I don't want to hijack the thread but what do you think about the Fibonacci levels and EW count? The MACD and RSI look similar to the previous 2 waves.
Ivey10K
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"We have 2 directions of further price movement. Upward or downward."..Hard to disagree w that..
Shinhunter
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Thank you for your analysis. I have learned a lot from you and have come to the similar conclusions as you have stated and give me confirmation in my TA abilities.
Do let us know when you are going to offer that TA course you surveyed a few weeks ago.
DLavrov
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@Shinhunter, I have been working on it. I would like to offer you only useful and good quality stuff which can really help you to make profit. That's why I need more time. Also, too much work with trading signals and sharing trading ideas on TradignView. Please, wait.
SafeGamble
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It's overextended and pushing the bollinger bands, so we might see a minor pull back, that makes sense. I hope it goes into alts rather than leave the market, though, the overall cap is already pretty low compared to August.
ThomasBlikshavn
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I cannot say enough how useful your analyses are, sir, thank you very much for sharing your insight
bilenyok
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@DLavrov , i can not any btc right now. If price broke 5000 level, do you suggest open new orders at this level?
MoMourad
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Great analysis, do u think its profitabel to invest at the moment and sell when The market bulling back?
Pato99
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the coming Hardforks make it unlikely to not break the ATH.
Most important Altcoins lost their major support which makes it nearly uninventible. Bitcoin is absorbing the altcoin marketcap coinmarketcap.com/charts/