The market tried to reach 12000.00 level. As we can see now the price bounces from this zone and probably we'll see a short term downward movement. The bearish divergence gives us a trend reversal signal. MACD histogram supports downward movement. We must be ready to buy based on confirmed reversal signals from the support zones. For this, let's spot the possible zones where the market can be stopped and reversed. The 1st support zone is formed by 10000.00 level and SMA50. If the price bounces from this zone and we get a confirmed reversal signal, we'll be able to open long trades with stop orders below the local swing low and profit targets at 12000.00 and 13000.00 levels. The 2nd support zone is formed by 9000.00 level and SMA100. This zone looks more interesting for buying. Stop orders also should be placed below the local swing low and profit targets at 12000.00 and 12500.00 levels. If the market breaks the 2nd support zone, we should be ready to see further downward movement to 8000.00 and 7000.00 levels. It will give us new buy opportunities and these levels will be perfect for new long trades.
All the BS about Bitcoin that soon will crash, the bubble and all the other freaking stuff, are always the same, we already have seen them at 3K 5K, 7.5K and today we are around 12K, the bubble could burst today or in 2022 when Bitcoin will be 300K, who knows. So far, despite all the guru here says, the Bitcoin reacted quite regularly, and very easy to predict. Much more than another FIAT linked to political events and global governments.
End 2017 =15K never lower than 10 -9,8K at this point
@caimano, looking to renter had to get out last night due to other commitments it’s in a channel atm with 11200 as a bottom had a dip at 10300 last time good pending for 10300 again? Do you think?
Wave-Expert
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When it's raining outside and casino is too far away from home ! Buy bitcoin
CryptoCyberpunk
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The funny thing is we wont evern reach 10k let alone 9 8 or 7 :) U should learn by now that BTC correct much much much less then u experts predict it will. I dont like that that is not normal or healthy we need serious correction, but thats how things work in BTC , sadly your charts mean nothing most of the time :D
JCMaxwell
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@MiljanMarkovic, he's just giving you his strategy and idea for trading bitcoin which i think it's "safe" ... ok, maybe it's not so detailed but the strategy is good and could earn you some cash - simply - buy low, sell high :) Unfortunately, i started trading btc late, hope it's not too late.
But you're right about many "experts" prediction about corrections that will reach 4-5k which i think it's impossible..
Pozdrav :)
CryptoCyberpunk
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@JCMaxwell, Buz low sell high ? lol that is overrated u wanna know how ? I will never ever know when the botoom is and when the top is :D Pozz
ideazman
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@MiljanMarkovic, No one knows where the absolute bottom or top is, it's about finding the sweet spot that will make you a profit. Trying to "catch the knife" (bottom) only hurts you. Small profits beats a loss every single time. Bulls Make Money, Bears Make Money, Pigs Get Slaughtered.
End 2017 =15K never lower than 10 -9,8K at this point