Bitcoin broke the up line of the ascending price channel and made the new high. It was a good upward movement and now we must be ready to see a retracement. The market looks overbought and fixing profit based on the current levels it seems logical, of course if you don't trade in long run. Closing long positions will push the market down. We have at least 2 strong reversal signals: a reversal candlestick pattern and Bearish Divergence. Based on these reversal signals we should expect the market falling to possible support zones which give us buy trading opportunities. These zones are near 6000.00 and 5000.00 levels. They are formed by support levels based on round numbers, price channel lines and Fib levels. If the market reaches these zones, we'll have to wait for confirmed reversal signals for buying. New profit target will be at 8000.00 level.
Bình luận
⋅
If the price moves above the previous high at 7600.00 level, it will be a confirmation of further upward movement. Probably we'll see new high at 8000.00 level. If the market can't break 7600.00 level, we should follow this trading idea.
Bình luận
⋅
The ideas in this post about Bitcoin movements are still relevant.
Thank you @dlarov. I follow you since your very first posts !
So, my question is: the day of the fork, you suggest to sell or transfer BTC on a wallet (i.e. Coinbase) ?
Thanx
justsomeguy
⋅
@michele_miles if you want to be able to make quick trades then staying on an exchange that supports 2x is the way to go (coinbase will).
If you're planning on holding 2x and btc then it doesn't really matter which way you go.
DLavrov
⋅
@michele_miles, Thanks for the following and interest to my work! I'm very grateful! As for your question, the day of fork is not so important as your targets. What is your target and ideas about Bitcoin? I think this coin should be traded in other way than other coins. Bitcoin is the main market at it will run run run upward. It's good for holding. It's stable for holding. It's profitable for holding. If you want short term trades, it's better to wait for the fork day and follow the market. Don't want to have high risk because of fork - may be in such way it's better to exit and wait for clear signals from the market for new trades. But I don't think that it's good idea. Holding is better.
RJMGCRYPT01
⋅
how do you expect segwit2x fork cancel news will impact on price for btc and alts?
SujitShah
⋅
Will the Alt coins follow the retracement? ETH LTC for example?
DLavrov
⋅
@SujitShah, I think money from Bitcoin will go to altcoins. We'll see pump of altcoins.
@SujitShah, it depends on the resaon for retracement, long positions closing for profit =alts up, long positions closing out of fear =alts down. the two emotions of the crowd, fear and greed, create the results. the crowd is trading on greed at this very moment, but when they trade on fear, the results are negative very fast.
So, my question is: the day of the fork, you suggest to sell or transfer BTC on a wallet (i.e. Coinbase) ?
Thanx