tradingbudha
Long

Finall call to 11k in less than 3 weeks

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi,
All I am back with another new chart confirming 11k in less than 3 weeks. I had my last chart suggesting the same but we luckily retraced twice into 8800s where whales bought as you can see here:

Since major players acquired BTC here chances for it to dump are very less untill they sell. In my opinion they may not sell untill they see lows like 8600s in which case when they sell we could see price in 7k range again. But good news is that as long as we stay above 8900s chances for 11k are as near as 3 weeks in my guess. Lets see how this will play out.

Please press like and share if you find it helpful.

Best wishes,
Budha

Comment: looking good for possible up move
Order cancelled: Hi all,
I am unhappy with the trading volume hence cancelling this trade. I will come with new chart when needed or will update here again.

Best,
Budha
Comment: excellent opportunity to long I am going to make a new chart about it
Comment: published my new idea here

Comments



It's done.

There is no fear of missing out of obtaining BTC at a lower price to sell at a higher price right now. Russia news, or if you want to call if Fear, Uncertainty, Doubt is exactly how it is at this point. Fear. Uncertainty. Doubt. Unless people have money to burn, they will not buy BTC in their right mind at this time. No one wants to go to prison for selling BTC after the law is passed. Hence, they are not going to wait for it to become a law. And exchanges are not going to buy these BTCs and other cryptos at higher prices.

Sell off will continue in phases in my honest opinion. Dead cat bounces.

Try only to catch the falling knife based on a strong bounce volume.
Reply
tradingbudha UnknownUnicorn995432
@UnknownUnicorn995432, Not sure how my comment disapeared so commenting again: Good chart and as I mentioned I will be out when I see under 8600s but as long as price above 8700s I will wait with some patience.
Reply
Too much FUD from Russia. The market conditions have been better in the recent weeks, so why would it make it to 11k this time, when it didn't in the last 3 weeks?
Reply
tradingbudha sebastian.soik
@sebastian.soik, Yeah heard about it from a friend but FUDs can't really determine the price. It can make this time because of nice weekly correction and little accumulation during the panic. Lets see how this plays however if we under 8600 we cant expect 11k any time soon.
Reply
sebastian.soik tradingbudha
@tradingbudha, That's true, this kind of FUD ('non realized law proposal') usually affects the price only short term. But considering your trade, we are talking about short-term movement.

Sure you can open this trade, but I would it set up like this. This way you lower your risk if the price reaches this dumb zone between 9,8k and 10,3k . See those arrows - this is your short term pivot. secure 60-70% of your trade volume there and move s/l to former entry point. buy back in if it closes above 10,3k and set s/l to the old pivot.

Reply
tradingbudha sebastian.soik
Reply
this is what I will follow, looks very solid
Reply
tradingbudha transparent-fx
@transparent-fx, Wow excellent analysis I had my last chart with exact same thoughts. Thanks for sharing
Reply
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