POLONIEX:BTCUSDT   Bitcoin / Tether USD
The price reached 10 000 level. We can consider this level as a key one. This level is the perfect for fixing profit from long positions which were opened on the previous major dips.We should be ready to see a price reversal from 10 000 level with further downward movement to a support zone at 8000.00 level. This zone will be good for new long positions opened based on reversal signals. If we look at the indicators now, MACD is goign to support downward movement. RSI confirms price reversal from 10 000 level and do it in the overbought zone. Only DMI shows strong upward movement. Can the price break the resistance level? Sure, because the market is supported by strong fundamental news. New big buyers have power for pushing the price to the new highs. But buying based on a breakout above 10 000 level, it's looks like a stupid idea. We'll have a chance to get a bullish trap and stay with long positions opened on the top. That's why buying on the nearest dip, it will be our new target. And what do you think avout this market? Please, share your thoughts in comments.
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@DLavrov
Hello, what can happen to the USD BTC today? Does it go up or down?

Thank you for your reviews
+1 Reply
PauloGarcia PauloGarcia
@PauloGarcia , I meant BTC USD
+1 Reply
@DLavrov Any update on potential outcomes? Thank you for your work, btw.
Reply
@DLavrov since litecoin and Ethereum seems to go up and down with bitcoin, this analysis seems to contradict with your latest anlysis on litecoin and Ethereum indicating a bullish divergence for both. So how come we should wait for 8000 support level for BTC and at the same time have a solid bullish divergence for ETH and LTC? Given that they generally follow BTC. Don’t get me wrong i still like your TA very much.
+6 Reply
Thank you!
Reply
Could you please explain your strategy a bit more for me to learn?
Reply
@DLavrov whats your opinion about a huge correction down to 5.000 or even 4.000? Thats what I am hearing. waiting for your opinion, thanks
+5 Reply
@DLavrov can you please post an update
+12 Reply
I agree! I was thinking it could hit as low as $5K before returning upward... am I maybe overshooting?
+2 Reply
what predicted price dip do you think below 8k ?
+3 Reply
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