I've charted some possible paths. Until we get some major movement the best call right now is a neutral one. I'll be updating as time goes by.
註釋
We held the line :) Just a heads up that 8280-8300ish offers a lot of resistance. I expect that we may see a drop around there.註釋
Bitcoin seems very bullish but needs to get above this trendline. The indicators and prevailing sentiment point to a move up. However, I opened a short position as we hit the trendline and put a stop just above it. Minimal loss if I get stopped out...big profits if we see a swing low.註釋
This has been a profitable trade. For what it is worth, my trading strategy is to buy on strong support and sell on strong resistance. I've found that it far less stressful and far more profitable to trade the swings and enter a position for weeks at a time. Unfortunately this also means that I don't update the charts as often as others. Please let me know if you would like more frequent updates as I don't know if many people read this :)I've noticed many people on here blame whales, manipulation, unexpected news, etc. for their poor trades. By trading the larger time frames we can eliminate the feeling that other people control our success. (Apologies for the rant...)
FWIW, I see bitcoin heading to the 7100 level.
註釋
These are the lines I'm watching. Although I didn't include it, we are currently just under another trendline and it is acting at resistance. My hunch is that we will hit the bottom trendline at about the $8050 mark but it is equally likely that we break upwards and test the top trendline. No advisable trades at the moment.註釋
There is a good chance that 7215ish will provoke a bounce up.註釋
We lost the $6400 trend line that I thought we might keep (see below). Things are looking really ugly but we need to be mindful that bitcoin and most of the alts are terribly oversold on many timeframes. I have some ideas but there hasn't been much response to my charts and I often feel like I am typing to myself. If you follow them and want some updated ideas please give a like or a comment.
註釋
p.s. This is the 2 week chart. The longer timeframes provide multiple indications of an extremely bearish outlook over the coming weeks and months.免責聲明
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免責聲明
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