BTC short term, SHORT? or buy the dips!?Hello everyone!
Below I have some logarithmic and some normal charts with their potential support levels.
The main chart is my logarithmic BTC-e Chart, which last night held support perfectly. However if that support breaks, we are going to need other charts to get some entries/exits for our longs/shorts. My belief is that we are going to hold at 2200$ for a bit and that this could be good buy point or exit for your shorts.
Like I said in my previous idea, the altcoin/ico bubble going down and the uncertainty (in a smaller extend) over Segwit and the Hardfork are the main reasons for pushing the price down at the moment. Until the situation gets more clear in about a month and we have a resolution in less than 2, the price might already be above 3000$.
In terms of oscillators/momentum and moving averages, what I am seeing is that we have plenty of room to the downside, yet we are oversold. Even if the trendlines break, the first break is a buy the dip opportunity. The main trendline since March of this year is clear support near 2000$ and I consider that a great buy. Not a long term buy, but a buy that could give a nice 200$ run.
Bitfinex should hold around 2150-2200$
Kraken - Short term 2200$
BTCC - Support at 17000CNY, but has broken all strong support.
My exotic pairs index shows that we already broke short term support and have another 230$ to fall.
My USD index shows that we are flirting with the support and we are about to break it. If we break 2300$, then we could go to 2150$ and and then 2020$
Bitcoinsell
times to sell bitcoins before latethis chart can make help for somebody bought bitcoin on high price
time is no finish after make (M) bearish -good time for sell of your bitcoins before in lose money
Descending broadening wedge pattern [4H]Short where you want, long where you like to.
Last down move could be coming. Shorts may work out. However, if you've followed my previous chart which had shown all the possible role reversing level ( Resistance into support ) We've just touched the line and going back up again. I've known some traders bought in at the 1000s Level and you might want to hold even though we are seeing lower highs for now.
Bitcoin BTCUSD Sellit is a possibility to sell bitcoins now after that drop and a retracement.
best look at price action to confirm a sell.
open 3 trades not only 1.
take profit of 1/3 around the low of the drop and move stops of the rest 2/3 to breakeven.
take profit of another 1/3 around the red price trendline.
let the last 1/3 run. if this is a start of a downtrend (yeah, i know you guys dont like that idea because bitcoins are so cool) then see you at 700$ or below.
(this is not a trade call. do whatever your risk appetite allows you)
