How to trade Cryptocurrency like a BOSS for $$$$ The Charts Tell All

in bitcoin •  7 years ago 

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So what will likely happen today? We will have some sideways price action and run up to $11,500 or $11,600 where it will most likely meet resistance as sell orders from traders looking to get out begin entering the market. From here expect a good drop to around $11,000 and back up again, bouncing in a tight range like a plane with one engine out struggling to gain altitude. At a point late this evening or in the upcoming day or so expect some solid volatility as the other engine begins to struggle and it loses altitude. I cannot accurately predict the exact when, but only the result which will likely be what I described yesterday.

“We have yet to have a real correction according to the one and three day charts; they don’t lie. Volume is drying up and a notable faith testing shakeout is once again around the corner. Applying Fibonacci retracements to the 12 hour time frames on BTC starting at the $8800 low of the last dip (11/30/17) and moving to the current high of $11,900; we could see a pullback into $10,400 levels if bullish mentality holds. This is commensurate with the low closing price of $9600 (11/29); it being a 50 percent retracement of the run from $7900 (11/23) to $11,400 (11/29). Applying a 50% retracement to the 3 day chart starting at the $5400 low of 11/10 gets us to $8637.”

https://steemit.com/bitcoin/@pawsdog/12-4-2017-the-market-view-and-trading-outlook

https://steemit.com/steem/@revelationquotes/the-random-cryptocurrency-challenge-bitcoin-gold-or-date-5-dec-2017-or-win-50-sbd

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Nice man... be interesting to see what happens... If it gets down to under $9000 I might have to find some spare cash from somewhere. I'd actually be super excited if it gets down this low.

Same here.. that would be cool...

thanks for the insight. $9000 would be a nice buy in relatively speaking

  ·  7 years ago (edited)

Nice analysis!
@flick maybe you'll see that entry point you wanted after all.

Yeah hoping so.. it will be interesting.. but then again its crypto so it could hit 40k by tomorrow morning..lol