If the market can't reach 5000.00 level and break above it, we'll have to think about a new correction wave. If we get a reversal chart or candlestick pattern near 4900.00 - 5000.00 resistance levels, it will be a solid signal for price reversal. We'll have to be ready to see downward movement to lower support zones. Let's look at the daily chart and spot the most interesting zone for buying. Simple Moving Averages will be good as support lines. But if we add Fib Retracement grid, we'll see a possible reversal zone between 37000.00 and 3000.00 levels. It will be good for getting buy signals and opening long trades based on confirmed reversal signals. But the perfect buy levels will be in the zone formed by SMA100, 3000.00 support level and 0.618 Fib level. The perfect long trades will be opened here. It will be a good starting point for a new impulse wave in the direction of the main uptrend and new market highs.
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startedyoung
I'd be surprised if you can tell me these indicators really help your trade and make you profitable
+1
Balas
ruraldisturbance
startedyoung
@startedyoung, and Id be surprised if your speculation was any better than his, cause thats what this whole thing is so don't act like his charts are inferior. Oh I just realized you dont have any charts published, you must keep your ideas private for those really big trades haha, get the f outta here man.
+9
Balas
RAHAL
ruraldisturbance
@ruraldisturbance, calm down bro
Balas
btcinvests
imo it could also be more a sideways movement with a maximum correction around 4000. maybe helpful:
Balas
sumairk
as i told 3700 is eminent before it is even headed for 6k, thanks for the update.
Balas
Supernova_elite
Good work, Dmitriy, and that is my vision about potential reversal points
Balas
DanUngureanu
Hi Lavrov, thanks for the heads-up, sold just before the current dump. Let's see where it stops. You have a talent to spot trends! You deserve some free BTC for that. Any whale around? :D
Balas
albertwt
Do you mean is it due to a correction ?
Balas
loris24
albertwt
@albertwt, https://cointelegraph.com/news/breaking-bitcoin-altcoin-prices-tumble-up-to-25-on-china-exchange-ban-rumors
Balas
jrc25
I'll be interested to see how the impending 2X situation in November impacts the possibility for moving back towards 5000 or higher. My guess we may not see any hard moves until then.
Balas