BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
I usually try to stay away from calling BTC             targets because BTC             does whatever the hell it wants but things are looking too interesting at the moment to not through in my two satoshis...

As a primarily alt-coin trader, I have enjoyed the ALT rally that comes with when BTC             falls into a sideways channel. On the chart, the channel is quite clear and it is also apparent that BTC             is moving within two extended fib levels (2.618 + 3.618) creating a sideways channel and despite a prior attempt to break resistance, BTC             is still ranging between $1500 and $12000 (reminiscent of the moves between $7,000 and $5,000 before the breakout that brought us here). It is still unclear whether or not we will have a similar rally but the fact that BTC             is maintaining this price level at the moment is promising.

At the moment, BTC             retesting the 200MA on the 4HR and is likely going to test the current support trendline if it fails to breakout here. The Moving Average Cross here tells us that a major price movement is likely in the next days (possibly hours). Breakout confirmation is when BTC             can close an hourly candle above $16000. If this happens, I doubt the candle will stop there. The enthusiasm for $20K BTC             would likely drive the price straight to $18200 (4.236 Fib) and momentum would carry it further.

On the other hand, as BTC             has been unable to crack though this resistance and the MA cross prove to be bearish as it was a few months ago, price may consolidate to a lower level, testing prior support. Watch out for a break of the 2.618 Fib Extended Level on the 4HR (moving average cross increases the risk of this happening). If unable to breakout here, we could see a return to $12,000, a possible reversal area. As we are still in an uptrend this is highly speculative and only applicable if MA Cross leads to reversal of current trend.

In my opinion, BTC             looks ready for another rally but that is highly dependent on the ability of new comers into the market to weather the turbulence and the ability to maintain dominance at the current Market Cap. Even so, at this point, every dip will be bought up with the hopes that BTC             what happened last year at this time happens again. Hell, this might just be the first wave of a larger leg beginning. Either way, stay alert and trade smart.

I'll be sharing more thoughts on BTC             and Major/Primary Altcoins in the coming days so stay tuned and check out my telegram channel for more: https://t.me/cryptoswitch

Komen: And just for clarity, for this idea I am using the extended levels of a Fibonacci Retracement months ago that has held true for my TA (in case there's any confusion). Interesting things are afoot. Heres a chart of the Total Market Cap. Found some Elliot Waves and Ascending Triangle in there (make of it what you will...) : https://imgur.com/BKUoF2L
Komen:
BTC needs to cross 200MA here
Komen:
Thats more like it. Bearish MA Cross: BTC Dip
A rally is not out of the cards yet and a dip here will actually prep BTC for an attempt to reach the breakout zone again (what goes down must come up and FOMO is still on the table)
Komen:
BTC Rallying here and testing resistance. Nearing Breakout Zone. This may be a good place to scale back on your alt portfolios and buy back cheaper =]
Komen:
Komen:




Currently breaking down this BTC move on telegram. Come check it out: https://t.me/cryptoswitch
Komen:



Still breaking down this BTC move Live on telegram: https://t.me/cryptoswitch
Komen:
Target hit. Current move reaching completion. BTC gonna take a breather here. Thanks for following along =]
Komen:


If you follow my ideas, you should check out my telegram channel you haven't already. Created specifically to get more in depth: https://t.me/cryptoswitch
you re the best :))
Balas





Currently breaking down this BTC move on telegram. Come check it out: https://t.me/cryptoswitch
Balas

BTC in Breaking through resistance and entering the B R E A K O U T Z O N E !
Balas
Metalxx14 cryptoswitch
@cryptoswitch, sell all alts? lost all my satoshi gains cause wasnt paying attention :(
Balas
cryptoswitch Metalxx14
@Metalxx14, depends. you can sell now (wait for a bounce obviously) and buy alts that find bottoms but you would be selling at a loss OR you could hold and wait for recovery (it will come...) but you risk losing/missing out on more BTC/satoshi gains OR you can reduce your Alt positions to minimize your losses now and buy back when BTC shows signs of reversal. It depend on how deep you are in Alts and your risk tolerance.
Balas
Metalxx14 cryptoswitch
@cryptoswitch, i'm 100% in alts. 40% TRX alone, lost all profits TRX gained cause of BTC. Thanks for your predictions! I suppose I will wait cause


and take the loss, be more careful next rally.
+1 Balas
cryptoswitch Metalxx14
@Metalxx14, the bounce is happening right now. best time to revaluate your trades and lower your risk exposure
Balas
Metalxx14 cryptoswitch
@cryptoswitch, thank you so much for responding, I followed your advice :)
Balas
pankhip263 Metalxx14
@Metalxx14, It is better to confirm the upmoment of the Bitcoin by breaking Moving above Breakout Zone. Yes, You can sell Alts which you are in profit to get BTC rally benefit as per me
+1 Balas
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