It feels this rally( short squeeze ) is getting exhausted. Bearish divergence of 4H Rsi as well.
Would start a small short and add more if it goes at 2900.
Optimistic PE @ 20 with 100 Earning puts this at 2000. It might be a good value to buy at those levels.
If we don't see any good news on corona for next two weeks, 2700 could easily be taken out for even lower target.
Now additionally we have OIL and potential war between North and south korea as a cherry on the cake to create more turmoil in global market.
Stay safe and invested in Gold and silver.
Starting my short back now. Stop should 10900. If we past that level i will open long at 11k. We will be again in bullish territory.
This is a great shorting area . Risky indeed but we are just risking 4%
1st target is 8900 and 2nd is between 7.7-8.2
Isn't it fun to stare at Bitcoin and go up and down up and down up and down !!
1st of all. I in the beginning was expecting correction at 10k just based on physiological levels like we did near 5k but it was taken out and ran to 11k in few minutes.
Based on extensions and history we were looking at 261% which was 11.8kish. It was also the bull flag % projection...
I got in the office today and everyone is talking about BITCOIN. People who know nothing bought Bitcoin at such levels as they think it is something which always go up. So new money is definitely flowing into the market like anything. Next is big bang theory episode and millions of people are going to watch and just buy bitcoin as its a new thing which goes up...
there are still not big bearish signs yet on BTC but if our 1st Lower high is in place at 7950 levels and if we break 7555 level and establish a new lower level below 7555, that will represent short to long term bear momentum once again.
What to do in this situation?
Open long only at new ATH. This time we did not see huge volume on new ATH which is a bit of a...
I have my shorts open at 7.6k. It was a clear bull flag and looks like we still need to score 200 points more.
No sign of bearishness. I am now worried as Wave C might never happen and we just pass and reach NEW ATH.
CAN YOU PLEASE GO WHERE YOU CAME FROM YOU PIECE OF JUNK!
BITCOIN IS GOING TO STRAIGHT UP 10K ARE THE
ONLY PEOPLE NOW CALLING BCH IS GOING
TO STAIGHT 3 TO 5K!
ENJOY YOUR BCH LONG GUYS!
EXPERIENCE ENOUGH TO UNDERSTAND
WHAT GETS MANIPULATED AND HOW IN CRYPTO.
NEVER CHASE THE PUMP ON SHITCOINS!
FOLLOW KRISWORLDWIDE FOR ACTUAL FUNDAMENTALS AND DYOR!