After losing the most important technical and psychological support at $ 10,000, Bitcoin, or rather his rate in pair with dollar, more and more resembles the so-called "Falling Knife".
Should you catch it? And if yes, where?
Catching a falling knife is an extremely risky strategy, however, if it is successful, it promises quick and significant profit. Perhaps this is why this activity is so popular among traders.
In my experience, this is more a search for adrenaline, rather than profit for a long period of time.
Everyone understands that the falling knife can reliably stop only at a sturdy table.
On the chart of stock quotes, the table is a level marked by a long and dense "hatching". That is, the price at which the rate spent a long time: months at least.
Take a look at this Bitcoin chart with weekly candles.
The table is at $ 1000. Not anywhere earlier.
Moreover, for Bitcoin it was expected, already twice in my opinion, a 95% drop from the top.
$ 20000-95% = this is a $ 1000 mark
Take care of your fingers, blood and deposits.
Wish you good trading!
Should you catch it? And if yes, where?
Catching a falling knife is an extremely risky strategy, however, if it is successful, it promises quick and significant profit. Perhaps this is why this activity is so popular among traders.
In my experience, this is more a search for adrenaline, rather than profit for a long period of time.
Everyone understands that the falling knife can reliably stop only at a sturdy table.
On the chart of stock quotes, the table is a level marked by a long and dense "hatching". That is, the price at which the rate spent a long time: months at least.
Take a look at this Bitcoin chart with weekly candles.
The table is at $ 1000. Not anywhere earlier.
Moreover, for Bitcoin it was expected, already twice in my opinion, a 95% drop from the top.
$ 20000-95% = this is a $ 1000 mark
Take care of your fingers, blood and deposits.
Wish you good trading!
