BTC Short Term Analysis - Correction or Bear Market??

BTCUSD --Chart speaks for itself. We are in the downward channel and ranging. If we can break the resistance line (~13500) then we can expect to see some upward movement. But we may need to retest the support again briefly. If not, there is a good chance that we can fall into 9900-7000 range where there is a strong support. If we do, it would be a very good time to buy..I hate the idea of shorting BTC but if you consider making some profit in this bear market, you will have options to do so.

One thing that I want to point out is that people think we are currently in the correction. Yes it is true, but there is a good chance that we may be getting into a bearish market and we may be in there for a while.I know it is hard to accept the fact. But we need to understand the difference between correction and bear market, and plan out carefully our trading strategies and expectations accordingly. Although I hate to admit, I think we are very much getting into a bear market, and we will be there for some time (hopefully not long). But I think it is healthy for BTC to go through this. Maybe it is time for alt coins to shine. I believe once people accept this fact, alts will be less affected with the BTC movement and there will be a lot of great trading opportunities. But again, I might be completely wrong, because no one really knows what BTC can really do.

As always trade at your own risk and do your own research.. If you are not sure, just HODL and enjoy the Christmas break !!!

Komen:

One more thing to add: If we break the resistance and see some upward movement, the question is how strong will be the upward movement. In my opinion, it will not be strong - a lot of zig zags. In the upcoming days/weeks, we will be ranging between 16k-10k.

Komen:

Resistance is not broken. We are still sailing in the channel. We will retest 12500 level support again (see green zone)..If support holds, we will retest the resistance (13200 level). If we cannot break it, we will probably go down.. A trading idea (be careful it is risky):

Short at 13000
Re-buy at 10200-9800 level
or
High risk one is to short at 13000, and buy back at 8100-7800 level..

For both, I'd wait till we see some movement to the resistance line again.

*** Trade at your own risk.

Komen:

Seems like we are about the break resistance. If the next candlestick closes above this one, then our next target is 16000 level. If not, we may retest the support (13000 and 12500) again..

Dagangan aktif:

We are almost at target 16000. We are going up steadily. It will be a major resistance as well. If broken, next target is 19800-20,000. Get ready. If not broken, we may fall to 12000, which may be a good place to buy..

Dagangan aktif:

16k resistance seems to be broken..But always there is a chance to restest this level (this time acts as a support).. Next target is 19500 level...We started moving toward this level.