Severe horizontal resitence at 3550-3650 ...also the 61 fibo is at arond 3600 from the prior high. The buy is pump type.BTCUSDLONG already very high (this is bearish) If we brake 3600 ,reversal might occur at 3700(bull trap) or 4000ish (severe horizontal resistence)... Im not buying this but instead im entering small levereged shorts.
Follow the MACD via Heiken Ashi candles on monthly . Once we have first white bar among the red ones on MACD ,backed by some juicy green volume ,then probably not a bad time to start acumulating and shift bear bias to bullish. Of course this indicator is seriously laggin but you should catch most of the next bull run (as you have avoided most of this bear market...
Take look at this 62% wick to the upside on ETC ...This was price manipulation at it finest ,any short above 2x got liqudiated . Now you have been warned many times about tether and bitfinex this is another sign they are complete scam and soon will be shut down . These people should be in jail ,counting jail bars not your account money .You have been warned ! Ps...
If we look to the 2015 bear cycle we touched RSI 30 (on weekly) for the first time at around this price level (3400) .If we modelate that price action ,we might go back up anywhere between 4500 -4900 before final capitulation (and touch or go under 30 RSI on weekly for the second time) . The volatility will be insane ,leverage not advisable .GL
We are in wave 3-the most aggresive one .We will have a fake capitulation then a rally. wave 4 will probalby retest 5.5k a couple of times....after fail we will capitiulate for good (wave 5) .Bottom should be at around -80% from ATH (excluding the wiks) .Notice also the date .I expect bottoming at q3 2019 ....the lower we go the more bulls will defend the...
Theres really nothing to add .The pic says it all .Rejection at EMA ribbon +dying volume ... is this suppose to break 6k ?I dont think so ...volume will come ?from where ?whos not bought at 6k and buying now like crazy ? Nobody.This is a setup for a complet roll over . 6k was a minibubble itself. Good night and good luck holding .Check my prev analysis.Still...
This are the lines (support) that should hit in short term . Buying at 4+ k is suicidal .Keep in mind we are in wave three of the downtrend -the most agressive one .I would not touch BTC above 3k ....even if it bounce from 4400 it will be short lived wont go more then 4950 .Check other ideas that ive published this year they are still valid .GL
Short every spyke. First target 5300 ,final target 4800 in a year or two .this is boring shit.
Everytime when RSI falls bellow 38 (yellow line on weekly),start averege buy ! thats it . Not financial advice:first buy 25% of portfolia at 38on rsi ,next 25% at under 32rsi ,next 25% at around 27 on RSi ....final buy at under 20/rsi at point we will denetly get some kind of bounce ! good luck .