BTC Weekly Simple Technical Analysis
Hey Guys, Just to take it in perspective. BTC Needs buyers to go higher. In order for it to find buyers it needs to give entry opportunities. There are also a few factors that come into play at this time. Holidays are here and we are typically busy spending time with friends and family instead of by our computer and phone. Its possible that people started pulling their funds out therefore the market lost wind. The market feels quite comfortable around the 15k area and I'm almost certain we will take off for the races early in January. Big money is waiting for an entry and needs to have clear signals to get it. This means that they will be standing on the side lines until they get signals to buy. The signals usually come based on technical analysis. This will be the last buying opportunity in my opinion because after this the pullbacks will continue to come higher and higher. In this scenario we have two possibilities for entries where big money will flow in.
Scenario #1 -> BTC Will Hold The Support Level Of 11,651 (Moving Average) and find buyers here.
Risk Factor Stop will be under 10K
Scenario #2 -> BTC Breaks The Moving Average & Breaks Down To 10K Which will be somewhat of a support since its a psychological number.
Risk Factor Low. A Whale Will Probably Put 2/3 of their capital into a trade similar to this and either scale in the last amount if it dips below the 10K or they will start buying after.
Scenario #3 -> Best Option And Entry For A Whale. If Bitcoin Breaches 10K It has potential to retest the $7,500 levels. This will be a very dramatic drop and may only give you about only a few minutes to actually catch the bottom and maybe 30 minutes to catch this move. This will give you the 'Capitulation' and prime buying opportunity for a whale or any investor.
As traders we are required to observe the market and see the different factors that it reveals to us, sentiment, price action, buying volume, human mentality. and much more.
Your trading style will ultimately determine how you enter the market, and how you profit from the movements of the market. For anyone just holding and re buying every dip it makes things so much more easier.
Here is how I am trading this market. I am net neutral. No buying territory. I'm overly bullish but on a daily / hourly I am bearish. I am expecting the market to capitulate and give whales a chance to enter safely. Lets be real without them this market would be very boring. I'm Short from 15k going neutral on my position + 25% into the short side. I will start scaling my short out at the breach of the lows and first sign of correction. eventually I will exit my position when I feel like we have reached the bottom, and flip sides.
Trading margin involves risk if you are unaware of how to trade margin I highly recommend you trade with cash only, and dont put trades that are heavy. Trade with maybe 25% of the total amount in margin. Do not go all in Do not make stupid decisions. If anyone has any questions drop them in the comment section below.
Be sure to like, and follow. Thanks
Scenario #1 -> BTC Will Hold The Support Level Of 11,651 (Moving Average) and find buyers here.
Risk Factor Stop will be under 10K
Scenario #2 -> BTC Breaks The Moving Average & Breaks Down To 10K Which will be somewhat of a support since its a psychological number.
Risk Factor Low. A Whale Will Probably Put 2/3 of their capital into a trade similar to this and either scale in the last amount if it dips below the 10K or they will start buying after.
Scenario #3 -> Best Option And Entry For A Whale. If Bitcoin Breaches 10K It has potential to retest the $7,500 levels. This will be a very dramatic drop and may only give you about only a few minutes to actually catch the bottom and maybe 30 minutes to catch this move. This will give you the 'Capitulation' and prime buying opportunity for a whale or any investor.
As traders we are required to observe the market and see the different factors that it reveals to us, sentiment, price action, buying volume, human mentality. and much more.
Your trading style will ultimately determine how you enter the market, and how you profit from the movements of the market. For anyone just holding and re buying every dip it makes things so much more easier.
Here is how I am trading this market. I am net neutral. No buying territory. I'm overly bullish but on a daily / hourly I am bearish. I am expecting the market to capitulate and give whales a chance to enter safely. Lets be real without them this market would be very boring. I'm Short from 15k going neutral on my position + 25% into the short side. I will start scaling my short out at the breach of the lows and first sign of correction. eventually I will exit my position when I feel like we have reached the bottom, and flip sides.
Trading margin involves risk if you are unaware of how to trade margin I highly recommend you trade with cash only, and dont put trades that are heavy. Trade with maybe 25% of the total amount in margin. Do not go all in Do not make stupid decisions. If anyone has any questions drop them in the comment section below.
Be sure to like, and follow. Thanks
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