I made this observation for myself to see what a year in crypto really looks like, let's see how right or wrong one can be, tread carefully. Personally, see it going to 30k, but that is speculation. Safe trading.
Divide it all.
Wait till BTC reached the (confirmed) bottom before going in. Everything can happen but I just want to share two possible scenarios. What do you think of this idea? I think Scenario 2 is very unlikely to happen but the chance Scenario 1 will play out is bigger than many people think.
Happy Careful trading everyone.
TLDR: attempt to long around 16k-17k with stop at 15k, switch to short if under 13k
Area around 16k EUR is likely to be at least a local bottom, given:
-strong confluence of fibs
-technicals entering oversold zone
-symmetry of a lower degree: -73% correction
-close to major top of 2018
-coincide with volume profile wedge, albeit a small one
A rebounce could...
After general crypto dip, BTC is going through an oversold period, the idea is to buy BTC/EUR with targets at RSI average and slightly overbought. (32.000 & 33.500)
I would recommend opening 2 positions dividing lots to set different the 2 different take profits. I'll set S/L slightly under 1:2 ratio due to high volatility.