In the previous posts I wrote about possible Bitcoin's downward movement. Now we can see that the market falls and we have to be ready to catch price reversal and open new long positions on proper levels. The support zone formed by SMA100, 5500.00 support level can be a good place for such reversal. RSI is near the oversold zone and MACD histogram is below the signal level. They can give good bullish signals soon. If the price bounces from the support zone and RSI confirms price reversal, we'll be able to open new buy positions. Estimated entry level will be above the high of the signal candle. Probably this price reversal will be the basis for further upward movement to 6500.00 - 7000.00 levels. But if the price breaks this support zone we should be ready to see the market falling to 5000.00 level. Price action at 5000.00 level will be very important for further price movements. If the market bounces, we'll get a new buy signal. If the market drops below 5000.00 level, it will be able to reach 4000.00 also. Let's follow the price and trade based on the clear trading signals.
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Looking to buy large amount of BTC, should i wait or go for it?
@z1tn, My opition is NO, trend down now, BTC able to down to 5200$ level, please wait
@z1tn, MY opinion is buy now!! 5,500 is a major point and this is the thrid time it tries to break and retraces back!! This is just my opinion; make your research safely!!
+1 回覆
jonjez ahossny
@ahossny, It was already broken to 5375! 4750 - 4900 area bouncing on 231MA would be more realistic imho.
ahossny jonjez
@jonjez, I do understand!! But it retraced back to 5500!! The 5400-5500 Is a strong support area!! Def. a break this time to this area would cause a drop to support 1@ 5200 then suport 2 @ 4900!! But looking at it I'm on the bullish side!! I know lots of people are seeing the drop loud and clear!!
Toni7 z1tn
@z1tn, wait for a little
@z1tn, It seems like the trend is reversing. Be sure to manage your risks! Good luck
Dian says it'll go to $6400 before going to $6300
Jmanfoulds personemail
@personemail, What?
Can you discuss in an ICO ?
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