Bitcoin is sitting right at long term support. With everyone feeling scared or waiting to buy lower, the time is ripe for long term acquisition. The same is true of #ETHUSD.
The last biweekly down trend signal will expire by April but the target has already been met at the very bottom.
My clients and me have been buying for some time now, and trading around short term volatility with a bullish bias. Don't miss out on the opportunities that lie ahead.
If we did indeed bottom we will retest the 6400 area after basing in this range for enough time for big players to accumulate and absorb supply from weak hands. After that level is hit, if we stay above it, we may break out of it and confirm the new long term bull run has begun. By then, targets in the 40k+ range become possible, with targets as high as 1m (or just shy of it, so that McAfee loses his manhood) by the end of 2020 are logical as long as the market holds above 6400+-.
i m also expecting upside will start in 2,3 days frm here 5200 within next 15 days....
AlanSantana
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Thanks a lot for the chart.
JRFreeze
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What makes you think that the lower green line, around $1600, won't be hit??
AlanSantana
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@RJHumphries, Because it isn't necessary. $3,000 would need to break first, only after that happens we can consider the $1,600 scenario.
IvanLabrie
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@alanmasters, this and also sentiment changed radically. First time since 2015 that I see people refusing to buy, and familiarized with selling short...
JRFreeze
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@IvanLabrie, I hear the same language people were using around the big peak but in reverse, ie "It's going to go lower" "I'm selling more" "This is going to the bottom". I think we quote Warren, "Be fearful when others are greedy and be greedy when others are fearful".
Spofas
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Agreed.
YuzukiChan
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Volume shrinks during the last consolidation. Wouldn't base short-term decisions on "alleged" news about Russia.
IvanLabrie
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@YuzukiChan, not basing the analysis on that. It's merely additional info. Main signals are technical and sentiment since it's the first time the public is mainly pessimistic about crypto since 2015.
YuzukiChan
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@IvanLabrie, public is still not pessimistic enough IMO.