Currently, Bitcoin is in a No Trade Zone in my opinion. I don't see a great signal in either direction.
I would like to see BTC move up to somewhere between 45-47k next but could definitely see the possibility of it falling to the 18-20k area just as easily.
When trading, I suspect that most people lose money easily in the midranges where the price action is chopping back and forth without any good signal of where it may go next. There could be many fakes in either direction up or down and the next move may just be an initial 'spring' to get traders offsides before it moves in the opposite direction with greater strength.
I think the safest play at the moment is to wait until the price reaches 45-47k Resistance or 18-20k Support. After that, you may be able to make a much safer and more profitable entry in anticipation of the next move from those levels.
Good luck and happy trading!
I would like to see BTC move up to somewhere between 45-47k next but could definitely see the possibility of it falling to the 18-20k area just as easily.
When trading, I suspect that most people lose money easily in the midranges where the price action is chopping back and forth without any good signal of where it may go next. There could be many fakes in either direction up or down and the next move may just be an initial 'spring' to get traders offsides before it moves in the opposite direction with greater strength.
I think the safest play at the moment is to wait until the price reaches 45-47k Resistance or 18-20k Support. After that, you may be able to make a much safer and more profitable entry in anticipation of the next move from those levels.
Good luck and happy trading!
Comment:
Bitcoin has fallen totally through the 3D Ichimoku Cloud. It may continue to fall to the 26k area which is respresented as possible support being a longer, more flat area of the Ichimoku cloud in the past
Comment:
Bitcoin in danger of losing the weekly pivot support. It could get ugly from here on the downside
Comment:
I feel like there is a 95% chance that you will be able to buy Bitcoin for 10k in the future
Comment:
Is the same/similar pattern playing out here in reference to price action around the 12H pivot level?