BitcoinNews24

BTCUSD 12k To 13K Next, Some psychological thoughts Not all TA

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is a follow on from the bullish and bearish charts i created, these are rough charts, please
add anything you would like in the comments section im only giving out some rough TA, We
can see BTC             has rose so fast that it feels             almost setup to fail.

Now im not implying that this is the case but it feels             very unnatural this time when watching the market
dip over such a long period of time from 20k right down to 6k that pull back looked more natural than
what i'm seeing in the charts i've been looking at, too me it look like a trap and that is only my opinion.

I understand everyone wants to see 16k - 20k and yes it is possible but its seems controlled, allot of
people are more interested ever in BTC             as a whole and new people like myself look to enter a position
which i would have done at 6k if i had the money then but was 4 days too late for the take off :(.

But i know there is not much chance of us going to 5-6k again unless something really bad happens
full meltdown of the blockchain or the crypto currencies get totally banned in some way which is
nearly impossible.Now we are seeing big players come into the market as we saw with the news of
someone buying 400 million bitcoins             , that is one big risk but the rewards would be huge. we know there
are huge players in this market and they are bumping and dumping, taking profits where the seem fit.

I personally do not see an entry point for a small time trader in BTC             unless we come back down too
4-6k prices, we will see many amature buyers lose allot of money, as they see all the headlines in the
papers. they will forget all the FUD they where feed with over the last 2 months, and dive in at any
price..I was going to just dive in at the 10k mark but im not liking what im seeing if i was to be honest
which is obvious even for a none trader.

We are at a critical point in bitcoin             and even long time traders are scratching their heads to try and
work out what the next move is, you can see day traders posting on youtube reddit and twitter the worrying
thing is there are thousands of followers who are all asking the same question when should i buy in ??

This is probably one of the most asked questions without learning about TA or doing any research they are
asking day traders about long term positions, i see alot of these people come back to complain they
have lost money because they don't understand the simple TA or how to buy in the dips, people investing
should always have a back up plan and a number of buy in points and stop points that they
have created themself not from someone on twitter.

I also feel at 10k there is a psychological game being played what if ? the market down turns which is very
unlikely, but even experienced day traders are scratching there heads wondering what will happen next.Personally
i think most of us missed the boat depending on your strategy.If we go into a downwards trend it could take months
to get to 6k again.

Or if it is controlled like we have seen the price rise then it should drop like a rock.!!It feels             very unnatural at the
moment for risk to reward unless you are a big fish.This is only my opinion but wanted to pu it out there, i have also
updated the chart. And i am very new to day trading and TA but every thing is looking bullish for short term but
always have an exit plan guys.I feel so much money has been pumped int btc             in such a short time that it will be more
volatile with bigger shifts in price range where big traders run the market, and can control the market to the point they
can plan and plot where the crash will happen, this will also be coupled with internet shills and FUD news.

If you feel like helping me get my own feet off the ground starting in lower markets feel free to donate to the
below address.I feel im learning more and more every day.

BTC            
===
1LuVYASn75HZeLeKksExKTNwZpF59zXWk7

ETH
===
0x6C4aa3B856D167977d39b4AB49aC66D967Edd9F2

BCH
==========
qrd904m4v4k4mz0r4xk2dajkunt02jtg2gw8m8f57t


Comment: Looks like i was correct ??I've been trying to warn people all day that resistance line would have to be broken and it was not.We could go into an ABC correction now, or we could also just ladder down slowly, we could even get to 8k and it go back up there are so many variables.

I'm going to do a better write up and post daily news ove these coming weeks and try and educate myself better these coming months if you feel like supporting a n00b please consider buying me a cuppa which in turn will be used for my first trades in the market.

But good luck to the bears and the bulls either way i support both of you :)Fingers crossed we smash this on the next run.
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