BITCOIN | Fake Sell Off
Hi All,
As we have been saying again and again, CryptoCurrency is not a place for impatient traders.
Yesterday's trade did just that: On Binanace hack news, it used it as an opportunity to weed out impatient or weak traders.
Their money is now in the pocket of Market Makers. If you havent sold in yesterdays sell off, you did good, and as you can see from current chart it is trying to climb back up to its previous position.
Current chart is neither the sign of Bull nor Bear market, it is swinging sideways (with higher range), to weed out impatient traders.
That's why time after time, again and again , it is said in trading market : "Put only that amount of money which you can afford to loose."
Play slow, you will stay for long time. Play fast , you will be wiped out faster.
Don't take it as gamble , Use your own analysis, think if there was any reason for yesterday's sell off, other than closing the position of weak traders?
Having said above, Bitcoin will try to regain its original value i.e.. 11,500 and then touch near new height(12,800 approx, given and take 500 ), before deciding on any trend.
It is high time to buy Bitcoin, In my opinion bitcoin should cross 12k to 13k market within a month, from there it will decide its fate whether to go in bull run or bear run depending upon volatility.
My Opinion:
Long Term : BTC will rise
Short Term: BTC will rise
If you agree , with my analysis, please like ,share and follow.
For any doubts: Please feel free to comment below.
Thanks
Krypto Times
As we have been saying again and again, CryptoCurrency is not a place for impatient traders.
Yesterday's trade did just that: On Binanace hack news, it used it as an opportunity to weed out impatient or weak traders.
Their money is now in the pocket of Market Makers. If you havent sold in yesterdays sell off, you did good, and as you can see from current chart it is trying to climb back up to its previous position.
Current chart is neither the sign of Bull nor Bear market, it is swinging sideways (with higher range), to weed out impatient traders.
That's why time after time, again and again , it is said in trading market : "Put only that amount of money which you can afford to loose."
Play slow, you will stay for long time. Play fast , you will be wiped out faster.
Don't take it as gamble , Use your own analysis, think if there was any reason for yesterday's sell off, other than closing the position of weak traders?
Having said above, Bitcoin will try to regain its original value i.e.. 11,500 and then touch near new height(12,800 approx, given and take 500 ), before deciding on any trend.
It is high time to buy Bitcoin, In my opinion bitcoin should cross 12k to 13k market within a month, from there it will decide its fate whether to go in bull run or bear run depending upon volatility.
My Opinion:
Long Term : BTC will rise
Short Term: BTC will rise
If you agree , with my analysis, please like ,share and follow.
For any doubts: Please feel free to comment below.
Thanks
Krypto Times
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.