Bitcoin - Key Level
Whats going on traders, today I am analyzing BTC/USD on the 1D chart.
After price reached the 10,000 level, investors are now thinking with logic and not hype and enthusiasm. Reaching this level was the pique of many Bitcoin analysis that I have seen all over TradingView and my Bloomberg Terminal. I believe now the level was hit, a correction is due.
Price recently showed 2 huge doji's, showing major indecision. I believe this is the bulls running out of steam and bears starting to nudge the market into submission.
I am expecting price to correct. On the chart, I have outlined a few possible places for BTC/USD to correct to on the chart.
The correction measurements are:
Bare in mind that however strong an instrument is, however compelling it is, however amazing it is performing, it will ALWAYS CORRECT. A correction is not a sign of a change of ideology, it is simply a sign of trading.
Always remember, trade your CHART and not your MIND. If you do this you will be a successful trader always.
In my related ideas, I have posted my previous BTC/USD analysis. If you review both of these analysis together you will see how I have come to this analysis.
I will be updating this analysis as the trade progresses. Leave a like & follow to keep up to date with my analysis.
After price reached the 10,000 level, investors are now thinking with logic and not hype and enthusiasm. Reaching this level was the pique of many Bitcoin analysis that I have seen all over TradingView and my Bloomberg Terminal. I believe now the level was hit, a correction is due.
Price recently showed 2 huge doji's, showing major indecision. I believe this is the bulls running out of steam and bears starting to nudge the market into submission.
I am expecting price to correct. On the chart, I have outlined a few possible places for BTC/USD to correct to on the chart.
The correction measurements are:
- Correction move to 8100-7500. Then price will regulate and continue its intended trend.
- Correction move to 5530. I believe this will be the maximum correction the pair will have.
Bare in mind that however strong an instrument is, however compelling it is, however amazing it is performing, it will ALWAYS CORRECT. A correction is not a sign of a change of ideology, it is simply a sign of trading.
Always remember, trade your CHART and not your MIND. If you do this you will be a successful trader always.
In my related ideas, I have posted my previous BTC/USD analysis. If you review both of these analysis together you will see how I have come to this analysis.
I will be updating this analysis as the trade progresses. Leave a like & follow to keep up to date with my analysis.
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