Long

What are happening with Bitcoin?

Updated

Before read my post, please note that the market is not need to focused of moving like my idea. You can consult but you need to investigate carefully as anything can happen.

Now, the main question is how bitcoin will move?

This TA according 1 day chart.

Look at the chart we can see the price had dropped to the bottom that was confirmed by MA 50, MA 100 and MA 200.
The price was rebouding from MA 200 however it was dip lower than MA 200 before that. This mean MA 200 isn't a strong support zone and the price will down to this level at least one more time.
Also because of the price is rebounded from MA 200, the bottom of level 6000 and short uptrend movement will take a strong buy that the price will up to 0.764 fib,we might see the price hit 15100 USD when it breakout the downtrend line at 0.618 fib- 12250 USD.
Look at the MA 50 and MA 100, we can see they had converged, this is a signal show that a strong dip is comming. Look at MA 50, we can see it had made a top and going to down.
Now look at MA 400, we can see it confirmed for 0.238 fib so this fib level might become main support zone - 4800 USD.
However, MA 800 also confirmed a strong support level at 2550 USD (panic level) so in the first time the price down to 0.238 fib, it will make a panic sell of that price will down to panic level.
After the price rebound, the ATH, pricing at 0.764 fib, they take a real downtrend line. When the price move up, it will resistance from this trendline at 0.5 fib then down to main support zone at 4800 USD.
The bottom at panic level and the bottom at main support zone make a uptrend line that BTC will move up every day.

How to trade?

If you did following my previous ideas then still keep selling BTC at 12000 USD but you can keep a part to sell them at 15000 USD.
Make a pending order at 2600-3000 USD to buy the dips at panic level.
Sell all your BTC after the price rebound to 10000 USD.
Make a pending order at 4800-5100 USD to buy 2nd dips at main support zone then hold them.

Happy trading and sorry for bad English

Note

Update: The movement still on the road.
Edit: new panic sell of level move to nearly 3800 USD

vh6889

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by vh6889

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