Trade Pair: BTC.USD Time Frame: Daily, 4hr, 1hr & 5min Predicted Direction: Long - No Current Trade Opportunity
BTC.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
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Watch price closely into $8,430 i see this as a level that could see some acceleration. Please note there's still be no entry for me until we see a break & retest.
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Price breached $8,500 I will still be watching the daily ascending trendline prior to any confirmed run ( Daily TF )
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Additional bullish impulse is once again expected, price continues to coil without consolidation providing information $9,000 is likely to be tested into Monday
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For me price continues to coil in addition to no significant structure resistance between 9k & 11.6k Additional upside is expected of the coming days.
Currently there is no position to be taken given the run that's underway, i will wait for a significant pullback prior to executing a long opportunity.
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A lot of sideways movement between 9k & 10k i will await a clear breakout or pullback prior to identifying a trade opportunity.
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A quick update for those who have asked.
Price is clearly is indecisive since the impulse on 24.04.2018 There is no clear trade opportunity until we see a break in either direction.
Sit tight and be patient.
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I wanted to provide my very brief outlook in regards to the common term 'Bitcoin Whales'
There is no question there are big players in this section that have the means to move price, however i feel many traders who lose their money regardless of the investment like to blame someone else for their misfortune.
If you consistently become frustrated with losing and feel it is due to others having a control of your destiny then i would look at other financial investments that are less likely to be controlled by a handful of sources.
The other is risk management, don't be dragged into the market due to the infatuation of becoming the next rags to riches story, if you are so worried about a position then it's likely your risk exceeds your threshold of being comfortable.
Of course this is a deep subject and something i will address very soon however I hope the above helps a little.
I believe whales are still playing speculatively, and there may have a sharp fall below 8000 USD . still I will be watching.
UnknownUnicorn180388
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@orkuna, It's certainly possible, should we not see a break & retest above structure resistance levels i will be staying out of BTC.
Lets see how it plays out, have a good end to the week.
@orkuna, A week before you were talking about sharp fall below 6000 (It is still possible). It is funny like bears are not able to switch to bulls. Waiting for bottom for a year then buying at 20k.
Invest your money while it is relatively cheap and enjoy your profit in December. I am not talking about BTC, I would bet on altcoins.
rknkr
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@herac, yes I continue my investment on altcoins, and having an eye on BTC as well for futures trading . thank you
herac
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@orkuna, you are welcome.
rknkr
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@herac, p.s. I still expect a big fall even below 5600, then the price might even go higher than a level of 20k.
herac
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@orkuna, why do you think it is so important to go for 5,6k for btc breaking 20k? It is just bear logic dude. I see here only two positives. Chance for guys who missed the buying opportunity (6k). And second is that, altcoins will most probably destroy BTC in that scenario. If you are fan of BTC do not want BTC drop to this level.
rknkr
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@herac, well my thinking is based on very speculative reasoning. Many banks such as UBS, DB, GS have set up or planning to set up their crypto trading offices this year ( summer, UBS already opened) .. BTC is too expensive for such institutions to enter.. so based on my speculative thinking, They will need to pull the price down so that they can enter and make a bubble. I know I don't have any data and/or information to provide.. but it is just my thinking. in long term it will blossom :)
herac
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@orkuna, We will see :) Iam bullish on BTC but not so much as on altcoins this year. There is no need for buying BTC in my opinion, why would you put your money into something historical? BTC was great and revolutionary but. I do not know why it should have price around 100k.