Hello Traders,
Look like momentum is reversing. Next couple hours will show us what will happen and direction of the next swing. Pay attention to circle area on RSI , pink TL could become support and then price will continue to the upper side. But if RSI continue to slide down, then will see further price sliding – first to red line – support and then perhaps to the first short target. Volatility is on very low level – be careful.

cheers,
Jim
Hi Jim, thanks as always for the helpful analysis. I am struggling right now to identify exactly where to place my limit buy orders. For some time I placed at $11,300 to ensure I do benefit from any momentary drop, but at the same time am fearful that if I expend my capital at that level, I will miss the benefit of a further drop.

How do you deal with this type of scenario?

I understand that you are not giving trading advice--I am more looking for general guidance on how to handle a situation like this.

Cheers,
Ramsey
Balas
@rbenz, As far as bitcoin is concern at this time volatility is very low, then I will never put limited buy order at this time. One more thing my analysis based on H4 but entry I am looking for is on lower Time Frame (H1 or M15). If you see potential signal formation (either Momentum or candlestick) then I am using lower Time Frame. I prefer Stop buy orders.
Cheers,
Jim
Balas
MANY SAYING BUY AT 11K..IS IT TRUE..
Balas
jimmycdn ghose12
@ghose12, ???? What are you trying to say?
cheers,
Jim
Balas
ghose12 jimmycdn
@jimmycdn, WILL IT GO TO 11K..AS MANY PREDICTING EVEN UPTO 8K DROP
Balas
jimmycdn ghose12
@ghose12, I will be very careful with this prediction, on the way to 11k, we have many levels of support.
cheers,
Jim
Balas
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