It's important to have a market big picture before start or continue trading and investing.
Using bitcoin weekly can be found several major trends, and it is very clear shown.
(A) In 2014 until mid of 2015 Bitcoin was in downtrend. (first time I entered the market.. immediately exit with just little tiny profit ...LoL)
(B) Trend change is marked with price movement outside downtrend channel in July 2015, although the lowest price retrace inside channel. After that Bitcoin in uptrend with specific slope until March 2017.
(C) Another trend change was occurred, but for steeper slope uptrend. Bitcoin price rapidly moved to ATH 19.9k, and again there was price retracement inside previous trend channel.
(D) In early Dec 2017 Bitcoin price moved outside uptrend (might be trying to perform an insane steeper uptrend :D), unfortunately it's failed...the price retracement not followed by full candles out above the trend. For a medium term (since it shorter period than A/B/C trend), Bitcoin is performing downtrend and it's not change yet.
There are many opinion spread out about Bitcoin, both negative nor positive perceptions. Based on this chart, saying downtrend and uptrend could be very relative to the chosen period. For example, in recent 2 months Bitcoin is in downtrend but one else who have own since BTCUSD 1000$ could say..it's very very strong uptrend, ...LoL.
Be wise and safe trading.
*A/B/C/D letter is not represent to waves of Elliot Wave method, just for marking with explanation.
Using bitcoin weekly can be found several major trends, and it is very clear shown.
(A) In 2014 until mid of 2015 Bitcoin was in downtrend. (first time I entered the market.. immediately exit with just little tiny profit ...LoL)
(B) Trend change is marked with price movement outside downtrend channel in July 2015, although the lowest price retrace inside channel. After that Bitcoin in uptrend with specific slope until March 2017.
(C) Another trend change was occurred, but for steeper slope uptrend. Bitcoin price rapidly moved to ATH 19.9k, and again there was price retracement inside previous trend channel.
(D) In early Dec 2017 Bitcoin price moved outside uptrend (might be trying to perform an insane steeper uptrend :D), unfortunately it's failed...the price retracement not followed by full candles out above the trend. For a medium term (since it shorter period than A/B/C trend), Bitcoin is performing downtrend and it's not change yet.
There are many opinion spread out about Bitcoin, both negative nor positive perceptions. Based on this chart, saying downtrend and uptrend could be very relative to the chosen period. For example, in recent 2 months Bitcoin is in downtrend but one else who have own since BTCUSD 1000$ could say..it's very very strong uptrend, ...LoL.
Be wise and safe trading.
*A/B/C/D letter is not represent to waves of Elliot Wave method, just for marking with explanation.
評論:
looking another consolidation area;
