So, it did find support at 11300 and went to 12k, and back to 11.5k and up again. crazy huh? but, you can see it is making a triangle. and i think we have at least 60% chance going to 13k after the consolidation.
triangle pattern is a one that needs endurance. when people get crazy about the parabolic move, they tend to think, it would keep doing it again, or vice versa to below. well, here is the thing. it is actually moving sideways making a triangle, that tends to be bullish. so at this position, you have to think both ways, but a little inclined to going long, and wait. why? stock market dropping, global trade war happening. mostly, weekly candle last week was bull engulfing.
Lawrence Summers stated that money is pouring into a 'safe asset' as btc a few days ago. a great man, as his service to United states few years was outstanding, also the leader of Harvard college. when he said that, i believed he knew more then just bitcoin is a worthless, digitalized but not proven asset. it is more like gold, an asset to be traded alternatively then dollar or stocks, which is worth buying.
so here is the thing. buy at 11700/11600 area if comes, or little bit at 11800 too. and wait. stoploss is needed, which you should put at 11600 area. if this thing breaks up, it will be imminent. breaks down its imminent. going to happen soon. i bought at 11580, and have put stoploss at 11500. if it breaks up it can go to upper 12k levels, or 13k. it could be the start of the bull run. or if stoploss reached, it could go down to 10600/10700 areas. but, worth the bet. risk is all about calculating ratio between winning and losing. if you buy at 11600~11800, stoploss is 11500, and expected growth is almost to 13k. why not, try a shot. if stop reaches, making another strategy is always inevitable for traders.
cheers.
triangle pattern is a one that needs endurance. when people get crazy about the parabolic move, they tend to think, it would keep doing it again, or vice versa to below. well, here is the thing. it is actually moving sideways making a triangle, that tends to be bullish. so at this position, you have to think both ways, but a little inclined to going long, and wait. why? stock market dropping, global trade war happening. mostly, weekly candle last week was bull engulfing.
Lawrence Summers stated that money is pouring into a 'safe asset' as btc a few days ago. a great man, as his service to United states few years was outstanding, also the leader of Harvard college. when he said that, i believed he knew more then just bitcoin is a worthless, digitalized but not proven asset. it is more like gold, an asset to be traded alternatively then dollar or stocks, which is worth buying.
so here is the thing. buy at 11700/11600 area if comes, or little bit at 11800 too. and wait. stoploss is needed, which you should put at 11600 area. if this thing breaks up, it will be imminent. breaks down its imminent. going to happen soon. i bought at 11580, and have put stoploss at 11500. if it breaks up it can go to upper 12k levels, or 13k. it could be the start of the bull run. or if stoploss reached, it could go down to 10600/10700 areas. but, worth the bet. risk is all about calculating ratio between winning and losing. if you buy at 11600~11800, stoploss is 11500, and expected growth is almost to 13k. why not, try a shot. if stop reaches, making another strategy is always inevitable for traders.
cheers.
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i bought at 11580, target is from 12.5~6k to 13k. stoploss is 11500, but i think 11600 could be fine. lets see if stop reaches, or it goes up.
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