[May 24th /BITMEX] Bitcoin Trend Analysis - 7260/7700
My last analysis was correct and we made huge profit guys! Cheers!
Today, I gonna show how the trend will work.
Let's simplified it.
If the red support wall will break out, Bitcoin 0.57% price can be re-entered 7250/7200 over 70% possibility.
If the red support wall won't break out, it can try to break 7700/7850 resistance wall.
Position (with conservative sight)
Short: 7560/7700/7860 (x 10-25 leverage)
Long: 7340/7260/7100 (x 5-10 leverage)
Open orders: 6700 long, 8148 short (worst case for bull/bear both side)
So far, I would say the red line is more realistic than the green line.
Bulls are trying hard to break out the 7600 wall, but it is still not that powerful.
Lots of people and my friends asked how Bear always win the fight.
I can confirm that one bear whale is equal to three bull whale.
Think about it. Buy 1000 bitcoin 0.57% can push up 200/300 points, otherwise, Sell 1000 bitcoin 0.57% can drop 400/600 points
If I am a whale, I prefer to throw away and buy again and throw it again. Because I can still make a huge profit.
I know someone doesn't like my opinion, but be realistic.
Ants CANNOT beat the whales. We have to follow their way to survive and make a profit.
I hope you guys have a great day.
Today, I gonna show how the trend will work.
Let's simplified it.
If the red support wall will break out, Bitcoin 0.57% price can be re-entered 7250/7200 over 70% possibility.
If the red support wall won't break out, it can try to break 7700/7850 resistance wall.
Position (with conservative sight)
Short: 7560/7700/7860 (x 10-25 leverage)
Long: 7340/7260/7100 (x 5-10 leverage)
Open orders: 6700 long, 8148 short (worst case for bull/bear both side)
So far, I would say the red line is more realistic than the green line.
Bulls are trying hard to break out the 7600 wall, but it is still not that powerful.
Lots of people and my friends asked how Bear always win the fight.
I can confirm that one bear whale is equal to three bull whale.
Think about it. Buy 1000 bitcoin 0.57% can push up 200/300 points, otherwise, Sell 1000 bitcoin 0.57% can drop 400/600 points
If I am a whale, I prefer to throw away and buy again and throw it again. Because I can still make a huge profit.
I know someone doesn't like my opinion, but be realistic.
Ants CANNOT beat the whales. We have to follow their way to survive and make a profit.
I hope you guys have a great day.
Comment:
Well, I got 7440/7340 long position and closed when it was reached at 7500.
First of all, I guess the whales wanna price it drop due to CME bitcoin future.
Second, I open long orders at 7400/7340/7280/7100/6950 (x5-10).
Why? Because it seems like gonna be dumping again.
Bulls could not reach even 7700/7850 resistance wall and dumped to 73xx.
I do not know what is going on, but bulls cannot reach 0.618 Fibo line.
Please remember this market is so weak and dumping is much easier than pushing.
Finally, I'm currently opening short position when I closed the long position.
Gonna close when it will be down to 73xx.
Today, I am not going to post May 25 daily analysis.
I think it is enough to explain it in here :)
Have a great day!
First of all, I guess the whales wanna price it drop due to CME bitcoin future.
Second, I open long orders at 7400/7340/7280/7100/6950 (x5-10).
Why? Because it seems like gonna be dumping again.
Bulls could not reach even 7700/7850 resistance wall and dumped to 73xx.
I do not know what is going on, but bulls cannot reach 0.618 Fibo line.
Please remember this market is so weak and dumping is much easier than pushing.
Finally, I'm currently opening short position when I closed the long position.
Gonna close when it will be down to 73xx.
Today, I am not going to post May 25 daily analysis.
I think it is enough to explain it in here :)
Have a great day!
I closed short order when I saw the bear couldn't break out the red wall.
7700 and 7860 are still opened.