Bitcoin will rise, but what then....?
I see chart patterns which shows Bitcoin may have a rise, but what will be next then....? I can't say now, and no one else may be so sure as well.
let's check the pattern:
This is what you see now as the chart for last 7 days.
the sharp drop is to test again the $6200 support which would be confirmed to be broken if the candle could close below $6000, which didn't.
ok, deep breath!
now take a look at the chart for last 30 days:
once the chart was in the sideways for a long time, a drop with no success on closing below the support level, resulted in a bull run to test the resistance level at $6800.
this can happen again.
now, what are the resistance levels above us?
- $6800 - 80% probability
- $7200 - 55%
- $7500 - 40%
- $8000 - 25%
this is not a financial advice, I just share my observation and thoughts on the market to learn from others. this is why I appreciate a lot all comments 🙇♂️
سلام
برخلاف بقیه دوستان چیزی که من از کل مارکت کریپتو درک کردم این بود که به چارتها از دورتر نگاه کنم و چند ماه و یا چند روز رو ملاک قرار ندم، مسلما احتمال یک پامپ به زودی هست و همونقدر هم امکانش هست که از این خطی که داره میره کمی پایینتر بریزه و بعد طی یک سال و یا دو سال برگرده بالا دوباره، تمام این پامپ و دامپهای کوچیک به نظر من تا مدت طولانی نداشته باشن در روندشون فایده ای ندارن، برای همین به نظر من از مقیاس کم نمیشه مقیاس زیاد رو پیش بینی کرد
that's a very true point, looking at the big picture.
but a day trader should have the big picture (trend) in mind, but act in the daily or even hourly time frames. this is his/her job... you probably prefer the long term positions.
thanks for commenting
p.s. I enjoy your records 😉
p.s. 2. انگلیسی می نویسم که همه مخاطب هام متوجه بشن. ممنون از وقتت
متشکرم، من هم باید انگلیسی مینوشتم :D
I agree with you mate :) , my idea was more for long term, and you are surely right about the short term, also thanks for the kind feedback about my musics, its your kindness :)
keep rocking 😉✌
Crypto currency would be good in every run , long short and medium term I am with you
For me it is a fact that cryptocurrency are not independent either. Whales can and do dominate the crypto markets with their traditional financial resources. We can see it every day. The price control is very similar to what we can see in the gold and silver market.
manipulation doesn't mean dependence
this is my thinking
It'll rise when the US dollar hyperinflates, kind of like Venezuela stocks. I go into detail about it here.
interesting post, will comment on 👍
If we overcome 8000, there will be a huge upside movement
maybe in 2019
why not 🤞
waiting patiently while having my popcorn.
😁 patience and popcorn is the ultimate Formula
I'm still expecting $5,000.
that's a possibility
Personally am quite sure, that we will not again see the former heights of 10k + ;-)
so let's be focused on short term fluctuations like next resistance levels 😉
OK :)
Yes I am agree with your point of view, indeed cryptocurrency and blockchain technology will be the future. Wish all of us a great success and mass adoption of block chain technology. Every market fluctuates, same goes to crypto space, so do not panic when it dropped, we will see the bright side of it after all. Keep on posting your point of view, great job, simple and easily understand. Nice one!
thanks for your comment. and let's 🤞
I think number 2 in the chart represents the event of USDT, there is not event like USDT from now on, so I do not think it will rise.
that's a possibility, but the market reaction to support strength can also be the case.
testing the support while every time it closes a bit higher shows a rise can be in order 🤞
it would be good for me if bitcoin goes to 5000. I want to buy more :) but anyways, good post and thanks.
🤔