By the way, despite the correction trend in the BTC market(or someone says it's time to finish of bubble economics because BTCJPY charts looks like scary and fear phase), I think we should buy BTC . I have 8 reasons from the technical and fundamental.Here is the list of why:
1. Look at the Godmode Oscillator. One area that is filled by aqua color, that will cross zero line. And two lines are also turned into but staying bottom.
2. In the area near 1.2M JPY, it has more than other price area. Therefore, this area is could become the bottom of this correction.
3. When BTC price go down to $1M, is increased. Also VIX indicator color filled by green(that is one of the buy(sometime sell) indicator). $1M is the big psycological line because it is the good place of cut off numbers.
4. Look at the . Current price is hitting long-term that is measured from August 2017, so it's difficult to break this .
5. Current correction was declined at -1SD(only one or two days hit at -2SD but after several days it is back to -1SD), so bearlish almost exhausted.
6. reveals major trading areas, and currently we're in 0.786~1 area and hitting 1, which is the bottom of this area.
7. Recently, Coincheck that is one of the biggest Bitcoin exchange in Japan was stolen about 530Mn USD. Maybe everyone knows this misfortune news but still it has not huge bad affect to the market. After several days, Coincheck is decide atonement to the customers from their own funds. So this decide is relief investor little bit and let BTCJPY price to more higher.
8. Current price is hitting to -2SD of Liner Regression. So BTCJPY price is difficult to go down from this price.
There are all of my reason to buy Bitcoin . Thanks.
If you have a target, set TP to 1.8M or 3M . And set SL to 0.9M. Entry point is maybe should set to 1.2M.
DISCRAIMER: This analysis is not advise nor guaranteed, so please invest your money by your excess cash and your decision.
P.S.: I'm Japanese and was stayed in US for a year so my English skill is not so good,but please forgive me.