BTC/USD Mid-term. Important zone.
Updated
Timeframe - 1 day. This chart clearly shows what the 30,000 level zone is and why it is so important, and for the second month there is its retention in the local channel. This zone acts as a "neck" level of the figure of technical analysis "head and shoulders". If this zone will be broken through and the formation will work out its price target, thereby the descending wedge in a small trend (3 months) will be completely formed.
I would like to point out that during the market dump at the end of 2018, everyone similarly waited for the price to drop to the highs of 2013, just like now to the highs of 2017, in the end they didn't wait. But there is a possibility that short term the price could reach those values. No one knows exactly how it will be, even those who "plan" and influence the price, because the world is global and everything is interconnected. Any event of "people driven by fear and uncertainty about the future" pulls everything along in a domino effect. In trading, there are only probabilities, more or less probable. But there is no doubt that BTC as a "recognizable brand of the process" and following it the entire cryptocurrency market will evolve. At the peak before the sunset, even a homeless person should know about BTC and XRP. This is not that period.
Also pay attention to the change in trading volume over the past 3 months.
In what zone is it more rational to buy BTC if you are not a trader? This applies to real and imaginary "investors" (gore-traders). It may be more rational to buy (plan) in both zones, but mostly in the more likely price reversal zone, as you think. At least learn to think and make decisions on your own, without outside influence.
If, say, you buy now with some of the allotted money. The price has not fallen below. From that zone, the rise has begun. You will have an asset + unallocated money.
If you bought with part of your allotment now, but then the price collapsed, you have money left over to buy in the next reversal zone.
Your average purchase price will be between these two zones, but it also depends on how much volume you bought in zones 1 and 2. If the volume is 50/50, it will be the average between the two zones. Let me remind you that this is for those who are not traders at all.
Traders, in my opinion, should not be doing this, as much as they can rationalize money and market situations. Make money on volatility.
I would like to point out that during the market dump at the end of 2018, everyone similarly waited for the price to drop to the highs of 2013, just like now to the highs of 2017, in the end they didn't wait. But there is a possibility that short term the price could reach those values. No one knows exactly how it will be, even those who "plan" and influence the price, because the world is global and everything is interconnected. Any event of "people driven by fear and uncertainty about the future" pulls everything along in a domino effect. In trading, there are only probabilities, more or less probable. But there is no doubt that BTC as a "recognizable brand of the process" and following it the entire cryptocurrency market will evolve. At the peak before the sunset, even a homeless person should know about BTC and XRP. This is not that period.
Also pay attention to the change in trading volume over the past 3 months.
In what zone is it more rational to buy BTC if you are not a trader? This applies to real and imaginary "investors" (gore-traders). It may be more rational to buy (plan) in both zones, but mostly in the more likely price reversal zone, as you think. At least learn to think and make decisions on your own, without outside influence.
If, say, you buy now with some of the allotted money. The price has not fallen below. From that zone, the rise has begun. You will have an asset + unallocated money.
If you bought with part of your allotment now, but then the price collapsed, you have money left over to buy in the next reversal zone.
Your average purchase price will be between these two zones, but it also depends on how much volume you bought in zones 1 and 2. If the volume is 50/50, it will be the average between the two zones. Let me remind you that this is for those who are not traders at all.
Traders, in my opinion, should not be doing this, as much as they can rationalize money and market situations. Make money on volatility.
Note
Note
Note
BTC and altcoins.
The price overcomes the resistances and heads to the first local target - "positive news diarrhea" and alternately the medium liquid altcoins will shoot. Sell them without hesitation on each impulse, do not wait for super profits, not yet time.
If this channel resistance is not broken and the price does not consolidate above it and a pullback occurs - the alts will flow. Especially, those that are now this week have increased in price locally. If you trade short-term or medium-term, protect your local profit, taking into account the intraday volatility of the instrument and the percentage of profit.
Note
Note
Important zones marked with arrows, on which further local development of price movement depends:
1) further formation of the cup of its third phase, that is, movement to its resistance in case of a breakdown of the downtrend (red).
2) From this downtrend (local maximums) already forming a downward movement ("handle" to the cup).
3) Extremely negative scenario is the formation of a large descending channel and a wave to its lower part. I marked this potential channel in birch color. If it happens (it is unlikely, but it exists), then from the dynamic support of the channel, in any case, it is already a very strong price growth.
Note
Important support levels (zones):
1) downtrend zone (where the squeeze was)
2) the 40000 zone.
3) the critical support zone is the dynamic secondary trend support (green).
BTC was followed by alts with reactive speed. Always protect your profits and don't get greedy...
Translated with DeepL.com/Translator (free version)
Note
Note
Note
For many market participants, it is especially indifferent to gain the main part of the position at $ 42,000 or $ 48,000, like in 2018 at $ 3100 or $ 4072. Since then, the price has increased many times, even now on the correction it is at 10X
What do you think, after 2 years, when the price increased 10 times, there is a significant difference who bought BTC at $ 3200 or $ 3500? I think not, but the waiters who were waiting for $ 1100 and even a repetition of $ 3100 remained "offended". I don’t think that stupid market participants who didn’t make their purchases bought on the "stick-out" waiters + 18% per hour and + 28% the next day. Many then were already waiting for a return back to the accumulation zone, even to the upper values, but alas - to buy a little lower, as well as to sell a little higher, generates disappointment and poverty ...
Some analysts with a huge number of speculative followers predict the price drop in this local correction to $ 36,600 and even lower. By the way, in 2018, in accumulation, they predicted a fall in the price of their sects to the highs of 2014, that is, by $ 1100
Note
✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
Related publications
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.