The whole area between 1000-6000$ will be probably accumulation area for whales (Finincial rulers of this world). They produce FUD in media, they want to buy as much as possible Bitcoin's and other cryptos, but not want to let You earn in this casino.
My accumulation plan is to buy chunks on levels when bounces should occur and realise quick profits when i get sell signal after bounce.
I will spread my pending orders in smaller area between 3000-6000, 1000-3000 area is to distant future for me, but 3000 - i can imagine that dump and more media FUD. Good levels for hunting in chunks (with proper capital management) are 5900-6000, 5500-5600, 4900-5000, 4600-4700, 4000-4200 and finaly 3000-3200. If market will achieve 3000 level i should have Bitcoin's for average 4500$ and bounce should give me opportunity to sell with profit (but profit taken only in BTC for longterm hold) and waiting for further dips if they occur in the future. Just like i do in case of XEMUSD or XEMJPY pair.
Logaritmic chart suggests that 3000 will be strong support level (blue dotted trendline), however even that can be under fire if the whales decide to attack lower after some bounce there.
This is not a trading advice. DYOR!
My accumulation plan is to buy chunks on levels when bounces should occur and realise quick profits when i get sell signal after bounce.
I will spread my pending orders in smaller area between 3000-6000, 1000-3000 area is to distant future for me, but 3000 - i can imagine that dump and more media FUD. Good levels for hunting in chunks (with proper capital management) are 5900-6000, 5500-5600, 4900-5000, 4600-4700, 4000-4200 and finaly 3000-3200. If market will achieve 3000 level i should have Bitcoin's for average 4500$ and bounce should give me opportunity to sell with profit (but profit taken only in BTC for longterm hold) and waiting for further dips if they occur in the future. Just like i do in case of XEMUSD or XEMJPY pair.
Logaritmic chart suggests that 3000 will be strong support level (blue dotted trendline), however even that can be under fire if the whales decide to attack lower after some bounce there.
This is not a trading advice. DYOR!
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Remember before You get in - do Your own research! Especially analysis on smaller timeframes if You dont want to catch the falling knife (with pending orders like me) - search for divergences double bottoms, all that can confirm significant bottom of price and good entry point.
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Simplified pending orders could be placed on levels 6000-5000-4000-3000 what give average price for that entry 4000$ if all levels will be achieved by market dump (if it occur!)
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correction - average for pending orders like that is 4500$ (if quantity is 25% for each).
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Another one simplifed plan could be 5000-4000-3000 (with average price 4000 and 33,33% of quantity in capital "invested") or pending orders on 5000 (40% of quantity) and in range 3000-4000 with step 50-100$ (60% of quantity planned to invest).
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As i doubt now in 6000 as strong support i will choose to set in play the last plan described.
But it's not my trade advice to You! Everyone has own mind;)
But it's not my trade advice to You! Everyone has own mind;)
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I think from 3000+ area must be some significant bounce (to 6000 minimum) if the market will choose this path in the nearest future.
