Just my observation as a new trader carefully observing the trends. THis is my first published analysis so any help or tips is appreciated. Bearsh downtrend still in effect. Already hit FIB retracement near 38% of $21,283 Dec 18 high to $10,800 low November 30 . MACD and RSI confirms. 1 hour chart 50 day below 200 day and nearly below on 2 hour chart. I expect a new low soon. Wait for break of bear trend to buy. or if you like risky trades and quick profit some buy in's on the swings if you observe the 15 minutes candles. Cex.io is always higher on all currencies than any other exchange, good for selling. Not so good for moving crypto since your buying higher .
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Buy in at 14k or lower
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I bought in at 13.5. Price is now closer to the other exchanges. Strong support at 13k level, Next dip may go lower. Now at 14,680.
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Missed the high sell point.Low of 12,500. new buy in levels under 13k
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Bears have lost their hold for now.Looks like we have a solid tea cup formation in the making. Hitting key resistance of 17,200. MACD and RSI still very low. Very risky trade atm.
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WE have lost support at the 17.8k level,the teacup handle never formed and had a major correction below 32% Fib and a bounce back to 50% of the previous high. Look for buyins around 14k. We are still dropping, RSI and MACD confirm.
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WE bounced back past the 50% FIB mark which was unexpected. I am considering this to risky to buy in atm. Testing key resistance level from last drop at 16.2k and support of 15.1k. if it breaks things will get interesting. If this does't happen we are approaching lowest buy in of the past 24 hours of 14.1.
I am in need of reputation points, if you like my idea please like. Any advice on this Idea is very helpful, good and bad.
I am in need of reputation points, if you like my idea please like. Any advice on this Idea is very helpful, good and bad.
Trade closed manually:
Sorry for not updating the idea sooner. THis trade is closed, we have lost prior support levels and I see more drops happening today. The support level is now 13,900 with resistance at 14,800.
6 hour chart has the 9 MA below 50 and approaching 200 MA.
4,2 and 1 hour charts has the 9 MA below 50/200 MA
The bears have hold, careful with BTC today, I feel a bigger correction coming to 12k
6 hour chart has the 9 MA below 50 and approaching 200 MA.
4,2 and 1 hour charts has the 9 MA below 50/200 MA
The bears have hold, careful with BTC today, I feel a bigger correction coming to 12k