While the RSI and MACD is showing an uptrend here -- we are approaching a major sell off on bitcoin. I have priced in three points to short bitcoin. I will be riding this short up to 5250 at which point I will cut my losses if it keeps going up. I am fairly certain it wont.
Should be a nice short down to 3800, 3500 and maybe 3200 levels. Best of luck. As always use Stop losses. A good strategy is to keep a 10% trailing stop.
Komen
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You should short at 4490, 4850, 5300.
Komen
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Maybe follow the yellow line.
Komen
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Dagangan aktif
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Thank you for the nice comments everyone. Markets are showing a bull sentiment, but it makes no sense for it to be bull. There is going to be some buy back for the folks who sold the FUD -- but other than that it doesnt seem like anyone wants to buy bitcoin at this price (yet)
Komen
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Down we go! Weeeee
Dagangan aktif
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Tasty short -- i think we go sideways not then either more down or pump to a new ATH. Lets see.
Dagangan aktif
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Nope .. straight down.
Dagangan ditutup: sasaran tercapai
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MACD and RSI are now screaming buy. It may go further down, but I am out. Enough profits for me. Best of Luck.
Komen
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Going back and closing / learning from my idea. How good was this? :D
I am buying tulips, not BTC, ETH or any other coins until settle and that is not happening until we see rock bottom.
We have anther 35% - BTC will blow past $3,000, down to $2,400.
mvb1
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@BigD2017, every time after an ATH we had -33% pullback. that is where we are now.
AdeliaGrande
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we wil find out soon,..
Hastarus
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Nice one, agreed !
mytorc
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Agreed and latest pump is already plummeting as expected
MarcelV
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Good chart & analysis. We're on the same page, Bro!
electo
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deonjoubert
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@electo, I think many traders make the assumption that a steep rise must essentially fall back down to the lowest trend line. That is certainly true for stocks and commodities and applies to some extent to stable currencies in forex trading, but with all due respect, cryptos are uncharted territory, it will not necessarily follow the same trends. The big question is how widely will it be adopted and ipso facto, how much demand there will be for it.
We have anther 35% - BTC will blow past $3,000, down to $2,400.