Bitcoin approaches Big resistance 32k in view

BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello guys,

As we can see price trading around 161% extension zone of the last swing high of June 2019. This level worth holding firm and look into for potential trend reversal as we are approaching both Month and yearly end.

RSI is approaching 90 which is completely overbought. I suspect potential correction to follow starting from next year after a test on 30-32k zone.

Kindly go through the chart and leave us your comments with your likes and also follow us for more trading updates.

Thank you.

It will be good to always understand risk involve in trading. Always trade with stop Loss in place.

Set up an entry/exit strategy for every trade, with good risk/reward ratio.
Trade active: Price tested the first part of the resistance around 29k

Trade active: Still waiting for possible 30k test
Trade closed: target reached: 30k immediate target achieved. This is massive, its time to begin to move stop loss in profit.
Trade active: Price is at the resistance level and a close of candle above 32,000$ in the next 3 days will invalidated this plan, but any close of price below 32k after the close of this current 5days candle will be difficult for the BULL.

Remember this is not shorting idea, but rather we are waiting for major reversal to pull such trigger.

Trade active: We are in waiting mode, let see how the 5day candle close, what we are having right now its getting to be scary.

Trade closed manually: Correction idea failed.
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why dont you restrict stop loss?
i think your last prediction about btc hits stop loss?
i loosed my money based on his bad signals.
+4 Reply
weslad hamidrezaaf
@hamidrezaaf, you are funny, so you still trade my bad signals? thought you said my success rate is worst? Please stop following my bad signals and I will appreciate it. Kid get well soon.
+3 Reply
oh adult man ?!!!
my english language is not well as you.
but i dont lie or ...
i traded based on your signals, and i loosed and i wanted my subscription fee for leaving from you vip channel.
but you banned me and delete your telegram history ?
do you remember it adult man ?!!!.
+3 Reply
I highly doubt that a major rejection is going play out any soon. Fomo in markets is unreal and thus it is hard to imagine BTC at 20k levels again. For the time being it is safe to assume that bitcoin may fall a little and with every small fall, there will be enough buyers to back it up and raise its bar even higher. We at chainassets capital, called for $39000 3 months back and we are holding on to our positions. Little Profit booking with increasing/decreasing position size is also recommended so that one can hedge their losing positions.
+2 Reply
weslad ChainAssetsCapital
@ChainAssetsCapital, Thank you for your insight and comment, let see how market behave in the first week of January.
+1 Reply
32 then 18 then 68 then 10?

It isn't showing such behavior
+2 Reply
weslad Jad-87
@Jad-87, Yes only show what I saw on the chart, and it does not mean it will go that way. Fingers crossed.
Jad-87 weslad
@weslad, Seems charts have limitations with what they show :D
Thanks for analysis. Looking too complicated, but I think(hope) that 12-14k will be tested with a wick to 10k. Happy New Year!
+1 Reply
I'm fully long now, but I agree with you. BTC needs healthy correction, to grow up more.
+1 Reply
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