11 October price broke down triangle with huge Volume — that was a signal that big players has interest in Bitcoin price decreasing, Because they will be able to buy it far cheaper.
The main reason why I think there will be down move is:
1) Most of the times price make 2 or 3 Waves move.
2) At the moment when price broke down triangle the biggest volume was at the moment of channel breaking. We could speak about long only, if the bigger volume was at the loves point, only such thing could be a signal that Market Makers hold the price, but we didn't see it.
Near $6410 — $6518 we TECHNICALLY can open a Short, goal $6120 and $5815. In the future That best place for a long will be near key level $5800
P.S. Push Like and Subscribe if you want to see more signals in the future
@BITCOIN21, Yes 4934 and Done. Way below mining breakeven (just like 152 in Jan 2015) but 786 back. If I breaks 4934 for any sustained period, there is a much larger fundamental problem - like a complete blowout of the mining sector.
Merkur11
⋅
I honestly can't see any reason why BTC schould get higher right now.
The interest is at a minimum, a slip down, followed by an agressive bull volume spike could get us a break of the downtrend, but until then the time is moving against BTC.
If we get a big breakdown of BTC then its a bloodbath for the Shitcoins like XRP.
Right now Iam trying to get a good short in for xrp and other shitcoins, your target of 0.46-0.48 for ripple would be a great entry for a short.
SonicDeejay
⋅
@Merkur11, I See BTC shall rise not because BTC is bullish, it is rather because of USD is weak.
Merkur11
⋅
@SonicDeejay, yes speaking of the recent sell off it is not that clear.
We saw for example gold not reacting to strongly to the immidiate sell-off and the same goes with btc.
Though it makes sense, i find it highly unlikely that in a dangerous enviroment anybody wants to invest too much into high risk stuff.
Anybody will first de-risk, move into fiat, maybe gold.
Only in a huge Fiat-Crisis like we see in Argentina and Turkey i have a positive outlook for BTC.
Out of all Fiat pairs the Dollar will be the strongest, because developing countrys with debt in $ need to buy it aswell as the FED will keep raising the interest rate.
Just look at EURO, EZB cant even raise interest rate because then italy would go bankrupt.
What i want to say: Long term BTC is a huge buy, but not right now and probably also not at the start of a financial crisis/ major sell off in stock market.
Yuriy_Bishko
⋅
@Merkur11, I wrote that the best place to open entry is near $6431
But there are probabilyty that the price will not tuch it
CopyPasteProfit
⋅
Have different levels but the pattern will break down agreed. I call this the no fomo chart. Just wait for it this is the long view.
kiki0259
⋅
k
UnknownUnicorn3259845
⋅
Dear Yuri
How are you looking at the current situation with btc?