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RE: Update on Bitcoin (Buy this fear) As i mention earlier! It is a dream that you would buy bitcoin around $7500 to $8500.
Do you look at fundamental part?
There is way too much uncertainty concerning bitcoin and other cryptos as well.
- Big governments trying to bring in heavy regulations
- China and India (2.5 Trillion population) Announcing the "ban"
- High transaction fees for Bitcoin (People are switching to altcoins)
- Too much buyers at 18K, still above their Stop Loss point
It would be more realistic, if we say that whales force it down and buy at deep. Say @8500 or @7500. This is the area where majority SL's could be triggered and Bears activate their TP.
What you are saying is way too much optimistic and looks like you are cheering for your own investment (as you said you entered long @10K) rather than putting up well analyzed forecast.
As for technical side:
- MACD is at -850 on daily chart. The signal is showing neither direction, could head down or up, 50/50.
- RSI is in the middle. Not close to oversold region.
- MA getting lower
- Momentum indicator is positive though (Need to mention)
- Moneyflow Index still heavily overbought (Which means that intrinsic price of BTC is lower actually)
- Bollinger Bands are showing the price has more room to fall as well as room to rise. 50/50 here as well
We can go on and on. I don't see any strong reason to be more inclined to bulls or vise versa.
I'll wait and see how it goes. Too much risk now.
And Boom! We are under 10K again.
This is why, and I totally agree with you @photogeek, that Fundamental part is vital and even more important for Cryptos since it is still in the early stage and not only people but governments and corporations are still learning and planning before the real actions will take place.
We have more to expect. This is the Inception.
Well said! Don't let your emotions do the trading.