cryptoGats

Bitcoin - Still trapped but decision time is almost here

BINANCE:BTCUSDT   Bitcoin / TetherUS
As you can see if you draw the correct support and resistance lines it will make sense in times like this why price is not moving. Bitcoin is stuck between strong support and resistance , but it has tried to make it out of resistance more so than tested support. Imagine yourself trapped in a small space and trying to get out by punching above your head but it does not break, you kick below but it does not break either, however one of the two areas is showing weakness what would you do? You continue to work on the area that seems like it may break. BTC is doing the same, the most logical area of scape, for now, is the floor, why? Because of the death cross, you can only do so much before the weight of the death cross also breaks the floor/support. It is atypical for us to be where we are now. Price is being kept up artificially so that other buyers bite and lose more money. The point of this game is to get you to put money in so you create liquidity so that the exchanges/whales that drove the price up can exit with some profit. What is the best move here? To wait, if you have not entered yet wait for the price to drop and if you are in, set a good Stop Loss and don't mess with it.

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NOW, THE LEGEND;
Support trendlines are green
Resistance trendlines are Red
Horizontal support lines are white, the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is white

THE TREND: Going Down, we have not made a new higher high
THE OUTLOOK: Expected to go down, surprising if it goes up.
BE SAFE AND FOLLOW ME TO BECOME PROFITABLE AND STAY AHEAD OF THE CURVE.
hi buller, great work!. do you have telegram channel?
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You are easy to follow, thank you for you analysis.
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@budcola, thanks friend, my pleasure to serve people like you.
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hello, u said almost time but when to be exact, like few more days?
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cryptoGats xaznxstyl3x
@xaznxstyl3x, No more than a few days, it is running out of space in that triangle you see there.
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xaznxstyl3x cryptoGats
@cryptoGats, im counting and it seems thats like 10 days left.
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cryptoGats xaznxstyl3x
@xaznxstyl3x, it does not have to ride the entire triangle, it may exit sooner. The point is that it is running out of space quickly, maybe before the end of the week.
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Check out tomorrow’s post. It will be a red vs blue pill scenario, highly recommend it.
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I have to admit that I used to trade with no rhyme or reason, and after following your advise I feel more confident about waiting for a long term entry point, but I also was able to make a couple of short term trades. Learning to chart will give me even more confidence.
+1 Reply
cryptoGats forex-4ever
@forex-4ever, first task is learning to draw proper support and resistance lines. It will take some practice but once you get it right you’ll be deadly.
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