Bitcoin - How To Trade + New Entry Level.

BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC is giving us a new opportunity to open long term investments. RSI + CCI are forming positive Divergence and supporting trend reversal. The price bounced quickly from the bottom back above MA100 level and Strong support levels of 14,000 and 14,590 levels. Once MACD crosses it is giving us another signal of upward movement. Strong signal for beginning of a new trend is the cross (explained in the chart). Buy orders should be set above 15,591 resistance level and stop-loss to 10,700 level. Breaking the downtrend line is indicating further upward movement but if the price rejects downtrend line then possible reversal zone will be tested.
If the price breaks below 14,590 support level , then ideal reversal zone would be around 13,800 and 13,100 levels.

Things to Remember:
-> Stop-loss orders are strongly recommended.
-> Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
-> Do your homework before investing.

Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.



@yarr "Buy orders should be set above 15,5915,591 resistance level and stop-loss to 10,700 level.".. Isn't that too much of difference?
+1 Reply
dmoz CatoOzz33
I thought so too. Shouldn't the buy orders be within the reversal zone of 13,800 and 13,100?
yarr dmoz
@dmoz, AS mentioned in my description this is "ideal" reversal zone and I do not recommend setting _any_ buy orders at that level. Especially without testing this zone first.
@yarr, does this mean if that reversal zone happens (price falls below 13,800, but stays over 13,100), and then the price moves back over 13,800, this would be a strong indicator to buy based on this analysis?
I agree with the commenters on this one. You can draw curves on all the swings so far, indicating people are selling off on every top/opportunity. Time to be more conservative. Look at Google Trends and you will also see Bitcoin is lossing momentum there too - like a lot and Google trend does have a correlation to markets when the term is categorized "financial".
To me MA50 crossing above MA100 is the signal that we were in the "back to normal" phase these past days.
yarr MrRenev
@MrRenev, Zoom out, look in the past and you notice that the cross of these two is not "normal".
@yarr, I was thinking of the bubble image with the short term rise before the major dump. When THAT happens there is such a pattern right?
Could be wrong, but I totally expect bitcoin to start falling soon and hit ~6k by February the 5-10.
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