We dont actually trade BTC, but it has the vast fluxility that is the best tool to analysis humanity. I know been a while that people yelling for 20,000 for one signal btc, including me.
But check this chart, you will see some exhaustion here with triple RSI DIV on the top . One -two- support are still stand beyond the red trend line.
14000 around for the third support if price drop down to break the red line. 12000 for next new support by hitting the long-term purple trend line. Those supports, each one is lower and lower than last one, meaning bubble bursting, people who are holding btc, esp those bought at a price above 10000, are trying to sell it for profit , with panic.
And the panic spread quickly if price drop down 90 degree. Please keep your account safe to have a wonderful Xmas!
Less is more!
Comentário
⋅
Comentário
⋅
Comentário
⋅
Just a chart on daily with pure some bear sign candlesticks on it. Simple and easy to read.
TA is useless on BTC. Don't get REKT trying to short it.
FUNTRADER-Vera
⋅
@Quin73, thank you for your advice.
All trades need to go with sl, I think this time is worth a try. Lol!
mightytrader
⋅
@FUNTRADER-Vera, @Quin73 - Vera is a professional; don't worry she can short fine if she wants to. TA is not useless for Bitcoin; it's essential... TA is not about predicting prices. TA is about making rational decisions in order to profit. $$
And I am betting on BTC going down. If I'm wrong, oh well the loss is small. Additionally, I buy back in when the market indicates it's going back up. Learn to profit up and down to become a true trader.
@FUNTRADER-Vera, Hi Vera, thanks for your analysis! Do you think in a possible bearish close to 17500 USD? You will sell your bitcoins in that hit?
Quin73
⋅
@mightytrader, wonder how that short worked out for everyone?
mightytrader
⋅
@Quin73, I increased my total BTC net worth by 7%. I only short for about about day or 2 at most. You can tell when BTC just had a mania, sometimes and the momentum starts to wane. That's when you short.
This is what I mean by learning to trade in both directions. Because BTC does dip and has some pullbacks.
But I am not bearish on BTC whatsoever. I am 100% BTC (and I trade alts for more BTC) except in this case I saw a shorting opportunity to add onto my BTC; so I traded some USD with defined risk. I closed my position 2 days ago.
mightytrader
⋅
@Quin73 - correction; no it was actually 6% increase I made.
Quin73
⋅
@mightytrader, Fair enough. I increased my BTC holdings by 25% the last 3 days through the ALTS. Simple strategy for me, buy BTC on the dips, never sell. 50% in BTC, 50% in alts.
mightytrader
⋅
@Quin73, Honestly, I always do better with alts, myself, than shorting. Crazy week with XRP and LTC especially and I increased my account by 50% from both of those.
Good strategy: 50-50. I also like to build-up a position over time with BTC profits. Right now I'm building up a position on Golem. I take my day trade profits and put into a coin I think is going to PUMP in the future. If it doesn't PUMP relative to BTC, it will relative to USD.
Though I am primarily interested in increasing my BTC but I will take profits in USD too.