Let's look at the daily chart and try to understand possible price movements. The 1st thing which we have to note, a double bearish divergence which was formed by price and RSI. This is a reversal signal near the strong resistance level. Based on the top at 3000.00 level and a possible top which market tries to form within these several days, we can draw a downtrend line. This resistance line is a barrier for possible up movement and from this line we should open sell trades on the daily and hourly charts. But at the same time we must be careful with short trades. The market still is in the up trend and it's possible that there will be a new attempt to reach 3000.00 level. For opening short trades there must be solid trading signals. The other entry level for short trades can be below the 2400.00 level. If price breaks the uptrend line and 2400.00 level, we'll have good confirmation that the market is going to move much lower. We'll open short trades below the support level with profit target at 2000.00 level. If the market drops to 2000.00 and 1800.00 levels, it will be a good long opportunity.
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Someone give Lavrov some cake, he totally called it 2 days ago, BTC just dipped below 2400$, let's see if there is resistance, otherwise hello 2100$!
smeliukas
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@DLavrov what would you suggest doing with all the Altcoin holdings at these uncertain times? Dropping them and waiting for a better time to re-enter?
EnginSula
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Can we consider 2530 @Stamp double dip? and probably the last bull trap before road to the 2000s?
gillianpatrice
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Great analysis - thank you. Just to add - price would need to make a LL than the previous at 2122.87 for me to be bearish. I would be comfortable longing after price sees your support and makes a 3 step pattern reversal on a 4hrly or hourly chart if your bias is bullish. To confirm another buy signal I would like to see a long wick on a 4 hrly candle. I would exit my long 2797.93 if price could not take out this high and make a HH. We have seen two previous price extensions of 849.21/910.31 points I would be looking for a target from 3297 or 3315 as a profit target. Overlapping fibonacci levels from previous price extensions and symmetry from the previous swing.
patrickreiner
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@DLavrov this chart is zoomed out to far, when I hit play nothing happens because each day is an entire bar on the graph. BTC already down to 2475 on polo.
DIGIVESTMENTS
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I was just talking to an experienced trader a day ago. We predict similar outcomes, we see blood around $1850 simply due to ethos, pathos, logos when it spikes down in the first-second wave(s).
DIGIVESTMENTS
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Hey I was wondering do you have any scripts that are profitable for crypto trading. I recently purchased haasbot from haasbotonline.com and I am in search of a script that I can input to do the same strategy that you have formulated is there any way you can help me?
Mustapha87
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Very well done chart here, so clear and easy to read.
andel0125
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4hours MACD has divergence. But 1day hasn't it. I want your idea.
UnknownUnicorn1016020
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That RSI divergence is interesting, although the correction might already be over. Since the ATH we are in a triangle and I'm not sure where it might be in a month. I watching from the sidelines for now.