A beginner's perspective
Updated
While many were bullish, I was expecting to reach $7800. And now, A sad realization that further fall to $4500 is also possible, thus I added the bottom red trendline to my chart.
A retracement of BTC from $7800 is still in play (see related idea), but if we break below that level then next retracement would be below the purple dashed line which would become a heavy resistance. In that case $5000 to $4500 are the next levels to buy.
A more aggresive play would be to buy at the 6000 level and sell at retracement from the purple line.
A retracement of BTC from $7800 is still in play (see related idea), but if we break below that level then next retracement would be below the purple dashed line which would become a heavy resistance. In that case $5000 to $4500 are the next levels to buy.
A more aggresive play would be to buy at the 6000 level and sell at retracement from the purple line.
Note
currently 7050$ exactly on the purple support line, or is it soon a resistance lineTrade closed manually
That purple line wasnt significant after all, crossed both ways like it not there. In retrospect, the correct line had to be drawn from Dip of 2017-11-12 instead of the Dip from sept 2017
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