Bitcoin WHERE DO YOU GO??? NOOOO!!!
Folks,
Here we are again with a fresh look at the bitcoin/usdt pair..
We are forming a double top and are ready to make a decline in price? I hope so it would give new buying opportunities in to crypto.
We see the price has formed a double top multiple times earlier in the last weeks and has declined after forming. Notice the decline after the 1st top that has been formed and notice the decline after the 2nd top.
that decline after the 2nd top has been heavier..
What the price also has done lately is testing the 50 day MA and this held it multiple times..
In my opinion a correction of 20/30% is possible because we have gone hard and fast lately and the market is overbought, heavily.
This is also a normal construction in a bull market (watch my other post/analysis) I have done a little research and you see in 1.5 year the price of Bitcoin declines 6 times more than 20% and gets back upward.
Thereby I would like to recommend to all of you to watch Tom Hougaard at YouTube.
This is a private trader, big time. And his level of knowledge and the way he teaches (trading psychology) is very nice and I have already learned a lot from him.
For now I would take a good look at my stop losses in my trades as I expect price to fall down.
But hé as we already know there is only 1 big player needed to push prices higher.
Here we are again with a fresh look at the bitcoin/usdt pair..
We are forming a double top and are ready to make a decline in price? I hope so it would give new buying opportunities in to crypto.
We see the price has formed a double top multiple times earlier in the last weeks and has declined after forming. Notice the decline after the 1st top that has been formed and notice the decline after the 2nd top.
that decline after the 2nd top has been heavier..
What the price also has done lately is testing the 50 day MA and this held it multiple times..
In my opinion a correction of 20/30% is possible because we have gone hard and fast lately and the market is overbought, heavily.
This is also a normal construction in a bull market (watch my other post/analysis) I have done a little research and you see in 1.5 year the price of Bitcoin declines 6 times more than 20% and gets back upward.
Thereby I would like to recommend to all of you to watch Tom Hougaard at YouTube.
This is a private trader, big time. And his level of knowledge and the way he teaches (trading psychology) is very nice and I have already learned a lot from him.
For now I would take a good look at my stop losses in my trades as I expect price to fall down.
But hé as we already know there is only 1 big player needed to push prices higher.
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