Here are the answers...
These are the signals that are pointing to a new Bitcoin Bull Run / Correction Over / Trend Reversal.
If the price closes above $14,900 today, a trend reversal is likely probable.
Here are my indicators:
- touched bottom and jumped from back from oversold. Each time Bitcoin reaches oversold we tend to have a trend reversal.
- is about to cross over on the 2h chart.
- Bitcoin price is sitting below the 25 Day ( ).
- Strong bounce from @ $12,700 low.
If a new Bitcoin Bull Run starts, What happens to our ALT trades?
- If Bitcoin trend reversal is confirmed, I suggest watching closely your ALT trades and close them manually.
- By closing the trades, I mean selling your ALTS (altcoins) for BTC . Sell your ALTS for BTC once the new bull run is confirmed. Not for USD, for BTC .
- Hold your balance in BTC until the new Bitcoin Bull Run is over, or until it is safe to open the ALTs trades once again at my signal.
- We will have the chance to buy all ALTS at the bottom. So this is a great development if you close your trades on time. We can ride the Bitcoin Bull Run all the way and buy back at the bottom.
Note: The market is always moving, the market is always changing. Change is normal and we have to adapt to survive.
All these suggestions are only advised once Bitcoin trend reversal is confirmed.
P.S. If you want to hold your ALTs through the bull run, that is your choice and something that can be done. But if Bitcoin starts a new bull run, as strong as the one we saw before to $17,000 - $20,000 (depending on the exchange), then we might be looking at a new bottom for most of the ALTs. And maybe even new All Time High for Bitcoin .
If this reversal is confirmed, Bitcoin's price is expected to reach the real, transparent, MOON!
Now, this is just my idea. The market will definitely confirm what will or will not happen.
YOU DESERVE THE BEST.
This is a way for us to stay ahead of the game and not have to panic when it is already too late. Panic can push you to take wrong decisions.
Downtrend (correction): RESUMED.
Here is are the steps that you as a trader need to follow, there are only 3 steps:
1- Buy within the recommended range.
2- Sell on your preferred target.
3- Sell if the stop loss is reached.
The rest is all about HOLD.
Plain & Simple.
Please share this news with others so that they too can understand how this works and know that this is a normal event. This happens in all the markets, that being Gold, Forex, Bonds, Cryptos, etc. And it is completely normal.
But, I know how you feel, I was also scared when I saw my first market correction.
You can also make money on a descending market.
Anyways, no trend reversal at all. This might turn out into a strong correction, which can also translate into a "Bitcoin buying opportunity". So stay tuned.
Correction seems to be over.
I don't do Bitcoin trading, I do ALTS/BTC.
With this update, we can close this idea.