Let's look at the daily chart of Bitcoin and try to find answers on 2 main questions in trading: "What is going on in the market?" and "How should I trade?". We can see that price broke the uptrend line. It's a signal that probably we'll see downward movement in the nearest future. Also the descending price channel gives us insight how the market is going to move lower to possible reversal levels and zones. In spite of downward movement for several weeks, we can consider that we have an up trend and it's better to search for buy opportunities. Fib retracement grid gives us levels where the correction movement can be stopped and reversed. We must watch for price action near 0.382, 0.5 and 0.618 levels and especially if these levels are near to other support levels. Now the market reached one of such level. The 1st possible reversal zone is formed by 0.382 Fib level and 2200.00 support level . The market bounced from this zone several days ago and it can do the same again. If price drops below, the 2nd reversal zone will between 2000.00 and 1900.00 levels. This zone is formed by 2 support levels and 0.5 Fib level. The bears will need strong fundamental support for passing throught this zone. And the 3d reversal zone can be near 1700.00 support level and 0.618 Fib level. If you are looking for long term trading, you will be able to buy from these reversal zones after getting buy signals. The market will be still bullish and have potential for upward movement in long term. Don't forget that even if the daily chart will confirm the up trend reversal, the weekly chart still will be bullish and give opportunities for buying and holding long trades.
Komen: Bitcoin reached the reversal zone between 2000.00-1900.00 levels. Watch for price action near this zone. It's possible to get short term upward movement.
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hilarious ! so fucking genius !
what do you think the price will be the next months due to this bubble that we are in
DLavrov jairoem
@jairoem, I don't trade options. That's why I don't care where the price will be in one day, one week or one month. Focus on price movements but not on time.
@DLavrov , do you think btc broke $2300 and continue OR over %61 BIP91 block does not enough to ends scary.. We need your market experiences.
and now Ladies and Gentlemans, look on MACD from the 1 Week chart. According to Mr. Lavrov, best is to follow the 1 week chart to find the trend. OK, WHAT DO YOU THINK ABOUT MACD ON 1 WEEK CHART MR. LAVROV?
Thanks for sharing your analysis, very helpfull.
Question: is it a script to manage the Fib grid ? or is it you managing it manually ?
DavyTissot DavyTissot
OK, found the tool :-D
@DLavrov You wrote the comment "Bitcoin reached the reversal zone between 2000.00-1900.00 levels. Watch for price action near this zone. It's possible to get short term upward movement." What exactly does that mean? I understand 2000-1900 is an important level. As of right now, we haven't really broken it upward and seem to be stuck just under 1900.. market is trying to decide where to go I guess. So what exactly does it mean to watch for price action here? What signal are you looking for to indicate that it might go one way or another? Thank you.
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