Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Huraian
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Tom Demark count gave a green 2 on the daily chart. This is a clear buy signal. On weekly chart we are at green 9. Which means this is the last week of uptrend. I expect the bull trend will continue for up to 7 more days till we reach 10K. At 10K we will have a mediocre correction. 10K is the psychological level and many people will take profit at that time.
After 10K price might fall to 8151 first support area. If 8151 does not hold it might fall to Fibonacci 0.5 : 7713. I do not expect a sharper correction because of the CME news.
Here is my trading advice:
Long at: 9300 Take profit at: 10000 Stop loss: 8450
When we reach 10K, I will post my new analysis.
Dagangan aktif
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BTC has reached 10K before my expectation and price did not drop. We are still in the bull run. We are currently at green 4 on daily chart. Which means uptrend will continue for up to 5 more days. And we will have a new ATH soon.
It is very hard to say what will be the new ATH because of the fomo and CME news. But I observe 12K as the new psychological level.
I think big whales will pump the price till the end of week and there will be a major dump at Sunday morning.
Here is my updated advice:
Scenario 1: If you have taken profit. Wait for a possible re-entry point. Do not open a new position yet.
Scenario 2: If you have not taken profit yet. You can keep your position open till 12K and take profit.
Do not short Bitcoin at this point because that would be VERY risky.
Thanks for the analysis. BTC is almost 10k mark. Any idea when you expect to see the correction? Can BTC shoot for 12k before a correction?
caglan98
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@EylemCulculoglu you mentioned "mediocre correction" in your analysis. Can you elaborate on that in terms of magnitude? Thanks.
EylemCulculoglu
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@caglan98, price might fall to 8151 first support area . If 8151 does not hold it might fall to Fibonacci 0.5 : 7713. This is mediocre. Some analysts expect a sharper decline to 5K. I do not.
halilstar
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@EylemCulculoglu, do you still expecting a correction from after today?
halilstar
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@halilstar, well I guess you do, you are really good at this you know that right?...
caglan98
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@EylemCulculoglu Seems like your second scenorio (12k target) is on its way. Any new updates regarding how BTC movement would be in upcoming days? Thanks..
elblinko
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I thought CME news was just a statement of intent, not an actual application submitted?
zozkalkan
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Thank you for suggestion :) we'll keep your ideas !