BITCOIN - A long term scenario! (MUST READ COMMENT!)
These 2 curves that we see here in Bitcoin are being strongly respected and I will definitely keeping my eyes on the buy/sell signals it can give me.
A bullish perspective:
The downtrend has been losing steem as you see the angle of the curve is finally turning up and the 1000 dollar dump that we had in the last week could have been the last downtrend dump. We are touching now the bottom of the curve and if we start going up from her we will be inside the curve but in a positive upside trend from now on. There is also a possibility of breaking up the curve which should lead us to 10000-12000 dollars.
Indicators are bullish in the 1D chart indicating that this can be a short term bottom which support this bull perspective.
A bearish perspective:
Bitcoin must break the curve bottom in these next weeks and we will see sub 6000 dollars levels like 5000. There isn't much bull volume coming in the last days and the downside movement is usually being more sharp and agressive than the upside and so we should not have bullish momentum leading us to breaking 6000 support .
Personally I am more bullish right now because of the 1D chart indicators and the extrem oversold levels that we have in pretty much all time frames and so I am holding my Bitcoin for the upside movement but if the downside of the curve breakout happens and we lose the 6000 support I will definitely consider opening a short position.
Either way a massive movement is coming and volatility is definitely coming to crypto again in the next weeks/months!
A bullish perspective:
The downtrend has been losing steem as you see the angle of the curve is finally turning up and the 1000 dollar dump that we had in the last week could have been the last downtrend dump. We are touching now the bottom of the curve and if we start going up from her we will be inside the curve but in a positive upside trend from now on. There is also a possibility of breaking up the curve which should lead us to 10000-12000 dollars.
Indicators are bullish in the 1D chart indicating that this can be a short term bottom which support this bull perspective.
A bearish perspective:
Bitcoin must break the curve bottom in these next weeks and we will see sub 6000 dollars levels like 5000. There isn't much bull volume coming in the last days and the downside movement is usually being more sharp and agressive than the upside and so we should not have bullish momentum leading us to breaking 6000 support .
Personally I am more bullish right now because of the 1D chart indicators and the extrem oversold levels that we have in pretty much all time frames and so I am holding my Bitcoin for the upside movement but if the downside of the curve breakout happens and we lose the 6000 support I will definitely consider opening a short position.
Either way a massive movement is coming and volatility is definitely coming to crypto again in the next weeks/months!
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Meanwhile in the short term Bitcoin is breaking up. Not sure if this will be a false breakout tough.
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Opened two longs today. One in ETH at 185 dollars and one in Bitcoin at 6296 dollars. I will hold both for mid/long term
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Not expecting Bitcoin to fall anymore from here and should probably start going up in the curve.
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Respecting curver as support so far.
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curve*
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This chart is like aimbot hack in fps games.
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Respected the curve bottom making a higher low again
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My long term chart just getting better and better
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The curve was supposed to be used for bears or bulls and as we saw when it broke down the curve we had a major drop so it actually worked pretty well but if you want to use it more for a bulls side it isn't complete invalidated. Maybe Bitcoin can get all the way up today and cause this breakout to be fake.
But very nice to see that it worked out
But very nice to see that it worked out
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We are now again back up in the curve! As I said in the last comment you should have been careful with fake breakouts.
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Forgot to update this idea but as you can see after breaking the curve we started a fucking strong downtrend. New idea for Bitcoin now is here :
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