BITCOIN Oversold - a pullback is possible - Check it out guys!
Dear traders,
Here is a quick update for Bitcoin.
We may possibly see a rebound here. We are looking at this 4 hour chart of Bitcoin BTC and the formation of a falling wedge.
This trade is not without risk but Bitcoin is now very oversold and we have a very nice positive divergence!
The decline is heavy and fast. Stops are hit and traders liquidated. Watch the volume spikes it marks often the end of the decline for a while.
Mid term Bitcoin is still very bearish! See my other analysis but rebounds happen , yes we go up and down in waves.
Traders, always use stops and money management!
Trade safe guy's! I Wish you all good profits!
This is my personal view on Bitcoin and no advice to trade Bitcoin! Do always your own research and of course place your stops en do not risk more than 1 % on each trade!
If you like my work than it motivates me if you follow me for regular updates and give me a thump up/ like. Thanks guy's!
Here is a quick update for Bitcoin.
We may possibly see a rebound here. We are looking at this 4 hour chart of Bitcoin BTC and the formation of a falling wedge.
This trade is not without risk but Bitcoin is now very oversold and we have a very nice positive divergence!
The decline is heavy and fast. Stops are hit and traders liquidated. Watch the volume spikes it marks often the end of the decline for a while.
Mid term Bitcoin is still very bearish! See my other analysis but rebounds happen , yes we go up and down in waves.
Traders, always use stops and money management!
Trade safe guy's! I Wish you all good profits!
This is my personal view on Bitcoin and no advice to trade Bitcoin! Do always your own research and of course place your stops en do not risk more than 1 % on each trade!
If you like my work than it motivates me if you follow me for regular updates and give me a thump up/ like. Thanks guy's!
Comment:
Traders, I think this pull back can go all the way up to 50000.
Comment:
IMPORTANT:
Traders, if BTC close below 40.000 I am out of my LONG position.
No advice but my view. That is also true for the ALTS!
Traders, if BTC close below 40.000 I am out of my LONG position.
No advice but my view. That is also true for the ALTS!
Comment:
IMPORTANT UPDATE
Guys, I have analyzed the market and I come to the following conclusion for now.
I personally close my LONG positions if the price of Bitcoin closes below 40000 with a day candle.
For the ALT coins this is also very important because if Bitcoin starts to dive then the ALTS will go down much faster.
However, I am now expecting a recovery and that is perfect for the ALTS an BTC but it is temporary. The long term picture looks bad for Bitcoin.
I will keep you posted but note that level of 40000! Recovery I expect in Bitcoin to 50 max 52000 USD before we start another ride down!
Disclaimer Traders this is my view no advice to buy or sell. Also, always do your own research!
Guys, I have analyzed the market and I come to the following conclusion for now.
I personally close my LONG positions if the price of Bitcoin closes below 40000 with a day candle.
For the ALT coins this is also very important because if Bitcoin starts to dive then the ALTS will go down much faster.
However, I am now expecting a recovery and that is perfect for the ALTS an BTC but it is temporary. The long term picture looks bad for Bitcoin.
I will keep you posted but note that level of 40000! Recovery I expect in Bitcoin to 50 max 52000 USD before we start another ride down!
Disclaimer Traders this is my view no advice to buy or sell. Also, always do your own research!
