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, all my analysis is based on the new way of trading – “Momentum Trading”. There is no guessing just real facts and you will see trading signals, that you never see it before. Description of my new course, you can find on http://www.poniat.com.
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
@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
@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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