The importance of 5784 USD
Atualizado
Hey readers!
Bitcoin broke yesterday the resistance line 5784 which is a huge accomplishment! Some of us don't understand the importance of this line. This was the lowest point in the whole bear market of 2018! And this can turn into support again!
What to watch in short term?
Tommorow will be an important day to see which direction Bitcoin is going. If bitcoin breaks 5784 then it will go deep down. In this case I will go for a very big short position. If bitcoin stays above 5784 then I will go for a long position - short term. Target will be USD 6500 which I believe will be the top of this corrective uptrend. See previous post. At that point I am going to switch to short.
6000 USD is the immediate resistance line in the near future.
Also watch ethereum. I believe that it has a huge up potential since it didn t really made big gains past few months comparing to other altcoins. I took a long position with a stop loss in case bitcoin breaks 5784.
Keep in mind that this uptrend is not the beginning of a long sustained bull market but a corrective wave!!! I will repeat it over and over again.
I i have time will make a post about ethereum.
Bitcoin broke yesterday the resistance line 5784 which is a huge accomplishment! Some of us don't understand the importance of this line. This was the lowest point in the whole bear market of 2018! And this can turn into support again!
What to watch in short term?
Tommorow will be an important day to see which direction Bitcoin is going. If bitcoin breaks 5784 then it will go deep down. In this case I will go for a very big short position. If bitcoin stays above 5784 then I will go for a long position - short term. Target will be USD 6500 which I believe will be the top of this corrective uptrend. See previous post. At that point I am going to switch to short.
6000 USD is the immediate resistance line in the near future.
Also watch ethereum. I believe that it has a huge up potential since it didn t really made big gains past few months comparing to other altcoins. I took a long position with a stop loss in case bitcoin breaks 5784.
Keep in mind that this uptrend is not the beginning of a long sustained bull market but a corrective wave!!! I will repeat it over and over again.
I i have time will make a post about ethereum.
Nota
Bitcoin dived below 5784! If it doesn t jump back quickly to the 5800 region then the jump to 6000 was a fake breakout and a very bad sign for further uptrend. Lets see.
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