Waiting for BTC to dip to this area
Updated
I will be waiting for BTC to dip down the 7800-8000 USD area. Why? Because the market is not in equilibrium. We have seen a huge surge in price, suddenly everyone wants to have a piece of the Bitcoin cake. The market likes to come down back to the Kijun line (red line here) which is a major support level. Reaching that price would mean that the market would be once again in equilibrium and from there one would continue its bull run. It wouldn't surprise me if the Tenkan (blue) and Kijun would be flat for the next few days, we have seen it before.
So far most of the major dips happened during the weekends (fridays) - which we are approaching.
I recently posted a chart where I shorted BTC at around 7900 because I expected a dip around that area. BTC surprised me and my prediction turned out to be false, I averaged my way to the top and managed to sell between 10.5 and 11k.
Watch the market closely, a lot of new money has found its way into crypto. BTC dip means that alts dip now.
So far most of the major dips happened during the weekends (fridays) - which we are approaching.
I recently posted a chart where I shorted BTC at around 7900 because I expected a dip around that area. BTC surprised me and my prediction turned out to be false, I averaged my way to the top and managed to sell between 10.5 and 11k.
Watch the market closely, a lot of new money has found its way into crypto. BTC dip means that alts dip now.
Comment
So Bitcoin had some great news today, Bitcoin futures will be tradeable from 18th of december onwards... This is great news and probably caused this nice uptrend. Buy if it breaks the ATH. But keep an eye on that Kijun line because it will come down to it eventually
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.