i short the Bitcoin for this reason
South Korea bans all forms of initial coin offering in the country, just today
China do it Already
so if some country like that were have the most bitcoin activity startto ban it.
i think fear will coming that other country will may ban too...
BIG TRADE 1200 PIPS
TARGET = 4000$
STOP LOSS =4750
RR= 1/2.5
Bitcoin price is struggling to remain above the $4100 support area against the US Dollar.
There is a key bullish trend line with support at $4150 forming on the 4-hours chart of BTC/USD (data feed from SimpleFX).
The pair is heading towards the trend line support at $4150 and might attempt a downside break.
Bitcoin price is finding it hard to stay above $4200-4100...
As you all can tell BTC has been very bullish over the last 24 hours. Slowing pushing its way upward to the .618 fib.
However, buying into the .618 fib level is rarely a good idea. This is because the .618 fib is often a retracement point for a trend and as you can see, BTC is struggling to break this level.
This indicates that an harmonic ABCD pattern may be...
Over the last couple days BTC has made a massive correction of up to $1000 on some exchanges. Browsing through my feed I have noticed a couple post of people calling the bottom, and so I feel obbligated to share with you my IF/THEN theory.
Based on the chart above, BTC is on it's way to the $4440 mark. This is a possible turning point for BTC.
Now, IF BTC...
We are going to face with a .618 retracement in the major trend down to 3000 in 2 days. Remember what happened back in 7/16? Yeah, I hear what what you're saying. It's time to BUY at this dip level before we take off to the moon. Make sure you set stop loss if you get in any above .618 fibo r. level.
The BTC as been considered "the new gold" as a safe haven.
The dormient GOLD and SILVER will raise thanks to BTC tank
Stocks of industries that work GOLD and SILVER like PAAS will benefit of this movement.
This stock is absolutely in oversold situation and a investment on it maybe a great idea in my opinion.
Validated confluences
1.Upperband Bollinger band in the strong resistance zone which indicated resistance in or around(below) zone
2.Opposing support zone Breached by the strength of resistance
3.Profit margin 1:4
4.No strong support until 2660
5.Downtrend still validated by trend-line
Validated confluences
1.Trendline broken
2.Support broken resistance validated
3.Strong drop from 2750.17
4.Counter trend Trading
5.Profit margin 1:4
previous trade was too low in the curve, profit margin has increased.
Over the next month, I'm very confident bitcoin will dip under $2000 and that if August ends up being a bloodbath as well then the price will dip way lower. Nothing to worry, just let the price settle then get back in. It would be very smart to take a big portion of your bitcoin into fiat now, and buy in at different places on the way down, $1800-$2000 to start. I...
We might be seeing a developing descending triangle.
If this closes below actual support with good volume, we could see panic selling and it can be a very interesting fall.
Remember closing price is very important..and even more important to plan good Risk Reward trades with strict risk management! (1%!!).
I have been shorting since 2565 if you have seen my previous posting. I am continuing my short until $1760. I have included Some scalping zones, but I am keeping away from the longs. Max leverage on my shorts are 25x when bitcoin hits resistance levels.
