First, Bitcoin ( BTCUSD ) started to move up breaking resistance after resistance until it reached $10,517.20.
After hitting ~$10,500, multiple signals started to develop.
- We have a high candle printed 13-Feb., signaling that a drop is coming.
- Now prices are testing EMA10 ($10031) while the indicators are trending down.
- The and are both curving down.
Since Bitcoin started to move up, it only retraced as far back as EMA10... On this drop, we are very likely to test EMA50, at the least... Based on past history, these levels are always tested as support once they have been conquered.
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Do you think Bitcoin will start to drop?
Do you think it will go higher?
Do you agree with this analysis?
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You will likely save a lot of people a lot of money, and they will forever be thankful.
I sold 97% of my portfolio like 48 hours ago.
Because I knew btc was entering a Massive Ressistance Zone between 10.000 and 13.000 usd.
You can draw a line from the 20k high to the 14k high and Bitcoin would hit it around 11.000 - 13.000 usd.
Then you got the historical volatility indicator that Crypto Krown have been talking about for 14 days now. On BTC, it said a big move was coming. But it can not tell if it is down or up. It is right like 100% right scaringly enough. I wonder how that indicator works, what data it uses. It is public.
The 14.000 high from 2019 in itself is a strong barrier most likely.
The magical number 10.000 usd also in itself.
How far low you think it can go?
I know exactly what you talk about.
I only trade with 100 usd on bitmex for now.
1# I am not confident enough to set more on stake haha.
2# I know I will have to lose money to learn no matter how much I study the subject on beforehand. As you say, BitMex in it self is a beast to learn to master. I have done several beginner mistakes using the platform haha. But I got lucky every time. Only think I have lost like 20% = 20 usd on beginner mistakes.
Like hitting LONG instead of SHORT lol!
Not knowing changing leverage on a new trade also changes leverage on your current positions...
I got a few questions I have not found an answer to yet. I will ask you a day in the future Master.
Thanks for sharing your experience.
"Not knowing changing leverage on a new trade also changes leverage on your current positions..."
But it is so much needed.
The most important is exactly all the mistakes you can do.
Like all those who got liquidated a week ago trading the XRP/USD pair on BitMex. Oh boy, they got owned. Not knowing everybody's stop loss and liquidating prices would be ontop of each other. Easy profit for a whale. Expensive lesson to be learned.
Please make a "BitMex top beginner mistakes to avoid" Master.