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.
#Theywillwanttoflushthemarketbeforerealadoption
#Nothingiseverwhatitseemswhenbigmoneyisinvolved
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
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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...
Class A hidden bearish divergence over class c general bullish divergence is suggesting a continuation of the downtrend. Let's wait and stay systematic.
Bitcoin price after a breakout of a falling wedge pattern, might possibly continue the bearish trend after a bullish correction at 30.500$. This might lead to a further drop of price below 25.000$
though the bulls are gaining momentum but they are still weak. the bullish trend is expected to start after the bears reaching the strong support below
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.
COINBASE
