Bitcoin Trend Reversal? ATH? (What happens to our ALT trades?)
Updated
Bitcoin is attempting a recovery; Trend Reversal. Three questions marks on the title (???).
Here are the answers...
These are the signals that are pointing to a new Bitcoin Bull Run / Correction Over / Trend Reversal.
If the price closes above $14,900 today, a trend reversal is likely probable.
Here are my indicators:
- RSI touched bottom and jumped from back from oversold. Each time Bitcoin RSI reaches oversold we tend to have a trend reversal.
- MACD is about to cross over on the 2h chart.
- Bitcoin price is sitting below the 25 Day EMA (Exponential Moving Average).
- Strong bounce from @ $12,700 low.
If a new Bitcoin Bull Run starts, What happens to our ALT trades?
- If Bitcoin trend reversal is confirmed, I suggest watching closely your ALT trades and close them manually.
- By closing the trades, I mean selling your ALTS (altcoins) for BTC. Sell your ALTS for BTC once the new bull run is confirmed. Not for USD, for BTC.
- Hold your balance in BTC until the new Bitcoin Bull Run is over, or until it is safe to open the ALTs trades once again at my signal.
- We will have the chance to buy all ALTS at the bottom. So this is a great development if you close your trades on time. We can ride the Bitcoin Bull Run all the way and buy back at the bottom.
Note: The market is always moving, the market is always changing. Change is normal and we have to adapt to survive.
All these suggestions are only advised once Bitcoin trend reversal is confirmed.
P.S. If you want to hold your ALTs through the bull run, that is your choice and something that can be done. But if Bitcoin starts a new bull run, as strong as the one we saw before to $17,000 - $20,000 (depending on the exchange), then we might be looking at a new bottom for most of the ALTs. And maybe even new All Time High for Bitcoin.
If this reversal is confirmed, Bitcoin's price is expected to reach the real, transparent, MOON!
Now, this is just my idea. The market will definitely confirm what will or will not happen.
Trade patiently.
YOU DESERVE THE BEST.
NAMASTE.
Here are the answers...
These are the signals that are pointing to a new Bitcoin Bull Run / Correction Over / Trend Reversal.
If the price closes above $14,900 today, a trend reversal is likely probable.
Here are my indicators:
- RSI touched bottom and jumped from back from oversold. Each time Bitcoin RSI reaches oversold we tend to have a trend reversal.
- MACD is about to cross over on the 2h chart.
- Bitcoin price is sitting below the 25 Day EMA (Exponential Moving Average).
- Strong bounce from @ $12,700 low.
If a new Bitcoin Bull Run starts, What happens to our ALT trades?
- If Bitcoin trend reversal is confirmed, I suggest watching closely your ALT trades and close them manually.
- By closing the trades, I mean selling your ALTS (altcoins) for BTC. Sell your ALTS for BTC once the new bull run is confirmed. Not for USD, for BTC.
- Hold your balance in BTC until the new Bitcoin Bull Run is over, or until it is safe to open the ALTs trades once again at my signal.
- We will have the chance to buy all ALTS at the bottom. So this is a great development if you close your trades on time. We can ride the Bitcoin Bull Run all the way and buy back at the bottom.
Note: The market is always moving, the market is always changing. Change is normal and we have to adapt to survive.
All these suggestions are only advised once Bitcoin trend reversal is confirmed.
P.S. If you want to hold your ALTs through the bull run, that is your choice and something that can be done. But if Bitcoin starts a new bull run, as strong as the one we saw before to $17,000 - $20,000 (depending on the exchange), then we might be looking at a new bottom for most of the ALTs. And maybe even new All Time High for Bitcoin.
If this reversal is confirmed, Bitcoin's price is expected to reach the real, transparent, MOON!
Now, this is just my idea. The market will definitely confirm what will or will not happen.
Trade patiently.
YOU DESERVE THE BEST.
NAMASTE.
Note
This idea is meant to keep us updated and look at all possibilities in order to know how to act accordingly if a certain event happens.This is a way for us to stay ahead of the game and not have to panic when it is already too late. Panic can push you to take wrong decisions.
Note
Bitcoin Trend Reversal: NOT CONFIRMED.Downtrend (correction): RESUMED.
Note
The entire cryptocurrency market has entered into correction mode. This is completely normal. It goes up, then goes down, back up, back down, forever and ever.Here is are the steps that you as a trader need to follow, there are only 3 steps:
1- Buy within the recommended range.
2- Sell on your preferred target.
3- Sell if the stop loss is reached.
The rest is all about HOLD.
Plain & Simple.
Please share this news with others so that they too can understand how this works and know that this is a normal event. This happens in all the markets, that being Gold, Forex, Bonds, Cryptos, etc. And it is completely normal.
But, I know how you feel, I was also scared when I saw my first market correction.
Note
If you are holding BTC, you can always sell for USD and wait for the correction to be over. Once at the bottom, you can buy back and increase your amount of Bitcoins.You can also make money on a descending market.
Anyways, no trend reversal at all. This might turn out into a strong correction, which can also translate into a "Bitcoin buying opportunity". So stay tuned.
Note
If the $12,700 support level holds, as it is down now, no further correction is expected. If that level is broken, then you can expect it to go lower.Trade closed: target reached
You can use Bitcoin entry level above $14,200.Correction seems to be over.
I don't do Bitcoin trading, I do ALTS/BTC.
With this update, we can close this idea.
Note
TREND REVERSAL CONFIRMED.Note
Looks like Bitcoin is trying to attempt to break the top. Let's see if he can accumulate enough strength.
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