goldbug1

BTC - Boring Market - Potential Reversal Zone

BITFINEX:BTCUSD   比特幣 / 美元
Patience Patience Patience. I can NOT emphasize enough that it is critical to have patience in markets and let the market evolve not try and guess here, as we pullback into the potential reversal area. It is not the time to guess as I believe we may still test the lower 8200 level before we get a clearer picture.

Technical:

Nothing much has changed since our last article. We saw some resistance at the 8680 level, which is a minor retrace level, and not just blowing through this level provides some guidance that sellers may be starting to exhaust which will likely set us up for a potential breakout, but the big question is where? We still maintain the 8200-8400 level for an area we are looking for a reversal. How the market reacts here will provide some insight into whether we break to the upside with our target range of 9600-10050 or we retest the previous low with the bears taking back control.

I know this is boring but sometimes boring is good. Weekends tend to be strong for the markets, though last week proved otherwise, and the market is trying to enter the area on our charts where there is a high probability of a reversal. Let the market evolve.

Summary:

I literally wish I could post more but I would be boring you with a bunch of nonsense at this point. As we enter the 8200-8400 we will gain better insight into where the market moves from here. Patience is key and if we get a trade setup we will post accordingly.
評論: Starting to get interesting, Bitcoin consolidating nicely in a typical wedge formation but showing some bullish signs. Lets see how the formation continues as there is a trade setup forming.

7000 now
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Too many bullish comments here.

We are just getting started on the pain. 2014 felt way worse than this before it got any better.
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@BRRD, go big short, as big as you can. any rallies just keep adding to short. You will be rich
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BRRD jlhequities
@jlhequities, I'm looking for a long from this incoming capitulation, without borrowing, preferably to hold for months but will have to see how it pans out. Probably won't be able to hold as long as I'd like as this looks like the start of a drawn out bear market to me.
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@BRRD, oh, i thought you were saying its going really low. this isn't 2014, this is a correction that has already happened and is now just consolidating/ institutional accumulation.
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@BRRD, the best approach right now is to dollar cost average into a long the next 30-45 days. IMO
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BRRD jlhequities
@jlhequities, I'm bidding in a range around $4k.
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@BRRD, I'm buying each step down it goes. Dollar cost averaging into the bottom has so much greater success since no one knows where the actual bottom will be or if its already happened.
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BRRD jlhequities
@jlhequities, generally I agree with dollar cost averaging... but it won't work very well if you start too early!!!
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