Opportunity to buy at the fib 0.618 retrace in the 10500...10000 area. Targets are at 13000 and higher. There is some risk to drop below 9000 - the sign of this will be retrace down to 9800. Be careful.
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Good sign: bounced from 10050.
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Gooood. Buy at the retrace in the area 11000...10400
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Done. Now need to overcome resistances:
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Hard move up... Below 11000 - risk of the retrace to 10500 area.
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Done. A return to 11,000+ or fall below 10000 is still possible.
cheers bro, bitcoin is looking very bearish, I think the bear market will continue till the 26th, so 9000 is more likely, only traders who like scalp trading should enter before a clear bottom is in.
Like2Move
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@cycler, If price drops to 9000, then 8000...7600 is more likely. But some signs signaling the bottom. Return to 11000 opens way to 12000. At 12000 - to higher highs.
cycler
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@Like2Move, yes I think this is a more likely scenario, but it would be very hard to catch bitcoin at 7600 if the long term bull is intact, any buy between 6200-10000 is great providing the long term bull holds. but I have now revised my bearish date till the 26-29th, afterwards we should see strong bullish moves. Thanks fro your TA, it is very good for mapping the next move. Support should break soon, perhaps in this daily candle, I'm not so sure resistance will be tested. Thanks for your reply. I always check your TA before making decisions.
cycler
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@cycler, sorry support should break soon, within this hourly candles.