DLavrov
Long

Bitcoin Entry Levels

POLONIEX:BTCUSDT   Bitcoin / Tether USD
The support zone at 10000.00 level holds the market from further falling. This zone is strong and it can be a starting point for new upward movement to the previous highs. Based on the new information from the market, let's try to spot possible entry levels in order to join to the price movement on time. If the price bounces from the support zone and RSI confirms it, the 1st entry level should be above 12000.00 resistance. Stop orders will be placed below the support zone . Profit targets for such trades should be at 17000.00 and 20000.00 resistance levels. Now MACD histogram supports the possible upward movement and we should wait for a breakout above 12000.00 level. The 2nd entry level can be above the downtrend line. If the price breaks this line, it will be a signal that the correction is over and we should join to the main uptrend. These long positions also will be opened based on the breakout. Stop orders for these trades should be placed below the local swing low. Profit targets will be 20000.00 and 25000.00 levels.
Comment: The price bounces from the support zone and gives buy signals on lower time frames. Probably we'll see the upward movement to the downtrend line within several days. The current levels are good for buying in long term.
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The ongoing USDT crisis is probably going to alter these forecasts
+2 Reply
scobz mharizanov
@mharizanov, He didn't seem to think Coincheck would impact things, wonder if this extra FUD will. Its starting to add up....
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Mr D. Why don't you ever make short calls also?
+1 Reply
Great analys as usually, thanks a lot for all your effort and sharing your knowledge
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ITs breakouting above 12000.00 level? SHould we buy now?
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You're one of the best, man! Russian part of TW community really missing such a qualitative ideas. Will be great to see you in there too.
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DLavrov exceLqa
@exceLqa, thanks for your comment! I'm very grateful for your words! As for Russian community, I'm not sure that there are many people would like to see me.
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exceLqa DLavrov
@DLavrov, Thanks for your ideas! Of course it's for you to decide, but i'm think you will have a lot of feedback, because of lack of good content in Russian part :). You should try at least. Any way, just do what you do :)
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can i ask you 1 thing sir!is china still on new years holiday t end of the febuary ! and do you think that that is why cyripto cuarency is still down !any clue .?tnx
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