Up trend on BTCEUR is still in force. Break below the precious low will change the pattern but that does not mean we are having bearish trend. Buyers are still sitting on the previous low with full force any pullback upto 786 on lower time frame will give us a buy opportunity.
BTCEUR ready to skyrocket after failed to break 61.8 fibonacci
Target right now at 127.2 fibonacci to 2954.
with stop level bellow 1339, this setup aim for 1400 pip with 1:7 Win to loss ratio
BITSTAMP:BTCEUR has been ranging since mid august 2017. Price has reached now a zone of support that indicate hesistation in the market. The bears seem unable to push price down. After the formation of the morning star, I took this trade without any hesitation. SL @3484 and TP who knows :-)
We need to go down to test the support line again before going up.
1-2 was not so deep it was more sideways and slower so this means we are going more steeper down on 3-4.
Constructive feedback & comments are welcome!
We have to see and follow the current trends. We are currently in bear season eventho bitcoin remains bullish. News from China doesn't make it any easier.
Bitcoin has recovered before from bigger news than what we are receiving from China so I'm trying to search for buy opportunities.
Anyway...
Entry level should be in between 0.5 and 0.618 fib level but above ...
On the 45 min or shorter time frame charts RSI shows pronounced negative reversal indicating support at EUR 3450 to be retested and may not hold?
BTCUSD charts however don't show this - so the picture seems unclear.
Any thoughts anyone?
If the two remaining large Chinese exchanges announce they will be closing business until licensed, we can expect incremental drop through support level stages as indicated on the chart. With final bottom theoretically possible if mass panic avalanche or major investor decides to pull out in a game of chess. Current bottom bounce could be a resolution, but I doubt ...
A dip is nothing more than a great buy opportunity
This is the noobs guide to BTC
Char is drawn by a noob, and many noobs might follow along :-)
Btw. I never short btc or margin trade, i only buy more :-)
But don't worry guys, we are going upwards shortly
