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BTC/USDT - When the market is smiling at you...

BINANCE:BTCUSDT   Bitcoin / TetherUS
BTCUSDT- Quick update ( not a financial advice)

There is a saying: 'When the market is smailing at you... stay away' and this is what I see today on the 4h chart for $BTC. Relax, I am not here to create panic or any kind of prediction like BTC is going to zero or BTC is going to the mon!

The reason why I am making this post is because I want to share my point of view of the market, and maybe, if you find it interesting or helpful, to give you a chance for a better understanding of the market before you jump in!

Here are a few things that make me believe that BTC will go lower:

1. The price was rejected again from the 6800-6900 area of resistance
2. The RSI almost hit the overbought area and is going lower.
3. We have a bearish divergence on the 4h time frame.
4. The market is smiling at you!

My plan was to sell around 6800$ area of resistance (with a stop loss above 7100-7200$) and buy it back all the way down.

I don't advise you to do the same, and if you do, you should do your own research and make a backup plan just in case the market is going against you/us. If this goes well, I will accumulate much more BTC for the long run.
Just another thing: Do not use all your money in one idea!

I hope you will find this idea helpful and interesting and if you do give it a like or leave a comment below.

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Mar 28
Trade active: As you can see the price has started to move down and there is a higher chance that it could go lower. You should watch for good support before buying it. If the price hit any support level you can trust is working, wait for some bullish confirmation before jumping in.
The last thing is to use a stop loss accordingly and do not invest all your money in one idea! Take small steps and don't be greedy because now is not the time for that.
Mar 29
Trade active: When the market is smiling at you... it seems to be a powerful sentiment and indicator to stay out of the market, or at least to take action on the other side!
$BTC has dropped from the $6800 to almost $6000 and it could go lower!
So far the bears are still in control and they have a lot of power! There are no bullish signals, meaning that the price could go lower and test the support around $5600-$5800 zone.

Comments

Hi good work .
my idea )
Reply
@PavelBodo, Thank you, I like your idea as well!
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China’s central bank moves closer to issuing digital currency: insiders see the global news in china , expecting a huge breakout to 7K area +, at this low price , the whale effect are strong MX-350
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GOod work
Reply
@Protixder, Thank you, you made a nice work as well.
Reply
mine as well
Reply
@WeMakePrice, I have seen it and I really like your idea. Nicely done, keep it going!
Reply
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