BTC-fire

recently bitcoin update ... what to do next?

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BINANCE:BTCUSDT   Bitcoin / TetherUS
if we look on a weekly time frame the situation is really doesn't feel nice, however for alts wont be that bad.

we can see that since the beginning of the bull run BTC hadn't tested the 20K area which was the previous ATH .

for now:-

certainly in all ways, it will touch 43k - 46k area soon if we closed weekly above this area so we will focus on the next resistance which is 60k - 63k.

if BTC managed to close daily or weekly or even 4hr candle I will be supper bullish .

for me I think we will go lower from either these resistance areas, I will be ready for it, maybe I will think about shorting from the resistance areas.


FOR ALTS:-

alts still have more to reach, if the bull run has ended so alts will be going sideways or lower not breaking resistance as we can see now for most of alts.

despite all of corrections, ADA still +$1.60

despite all of corrections, link still +$30

maybe we will see lower I know, but I believe it opportunity to buy.

watch out BTC .D will go higher n alts will go sideways for the short term, but soon it will bounce n BTC .D will start falling again.

2017 bull run cycle, BTC .D reached 35% lowest point, so it is strong support n this is from where we bounced now n alts started to bleed but it is not the end.

take a look on my previous article regarding BTC .D n u will get my point.

u can see there that during the 2017 bull run, this 35% has been reached on 3 waves where alts was bleeding through them cuz BTC .D was trying to go up n then fall more lower.

2017 bull run started from 2016 halving for BTC n ended on Jan 2018, about 1.5 years so we still have time too.



I just would like to say some advice for people asking me to hold or sell:-

I know most of u are experiencing this dip for the first time, but from the first second u entered Crypto market u all were familiar with the basic rule which says " trade with unneeded money "

so what I'm saying to myself now what will happen if I lost all my money, if Xrp reached 0 or link reached 0.

no surprise ! maybe it will happen with some possibility. so don't panic u r so much safer than people who were stuck in future positions n r wishing they went in spot instead of that.

if u r on spot don't sell, just add more if u can n leave a huge bag if we surprised that bullish run has ended !


no one can predict where we will go on the current situation.

even me I'm saying from now if this idea went right, it was just sort of efforts n explaining not cuz I'm supper hero.

but is all about risk management remember this !

train yourself to stop predicting the market direction, n start to maintain yourself how to deal with bullish n bearish market both, these r the real experts.

BTW: quick swap trades r so much helpful at that situation in the market. i will make special separate wallet alone for quick trades with goal of catch n run.
" this for new trades for my old spot trades I'm already holding n wont sell anything !"






Comments

why do you think it will retest $20k? historically BTC has never retested the prior ATH after a parabolic bull run. it could happen obviously, but i certainly wouldn't count on it. in any case, i think it's likely that price will retest some higher levels before another leg down.

+2 Reply
@reees
Look I'm totally agree with ur idea but what if this major bull trendine has been broken?!
It will go to 28k first n if broken then 19k then 12k then 9k.
Historically it hadn't retested the prior ATH after a parabolic run yeah thats correct..
But what if it is within the parabolic run?
I mean maybe it will touch n rebounce from 19k if we continue with making lower lowers cuz I don't think that we gonna see - 10k btc again...
N in all scenarios try to predict a suitable situation for btc that suits with alts too..
I mean if btc went up to 120k or 90k or new ATH this won't make sense cuz at that point there won't be an alt season, impossible to have alt season when BTC. D going higher n it mostly seems that alts still have potential, so what makes sense for me honestly bro is that BTC will go slightly higher as per ur idea n then will fall down dramatically where alts will blow up again n BTC.D will go down too
Reply
reees BTC-fire
@BTC-fire, thanks for the reply. yeah that all seems plausible for sure. only time will tell!
+1 Reply
Excellent work!^^
+1 Reply
Excellent work! it's probable.
+1 Reply