Bitcoin - The SituationWell well well our last trade was a huge success, now I am looking at the big picture and trying to figure out what could happen next. Now btc is trying to hold a bullish line back from years ago (See green line on chart) if this line breaks down I have little hope for a bullish move until 3-4k. Fractals and ALOT of TA is saying 3k SHOULD be huge support zone, so if we manage to go there it's an obvious buy with risk/reward on your side. I marked the best buy zone on my chart, note that closer to 3k is the best buy. If the current line holds it has great potential for 5k target (risky trade unless you got bellow 4.5k entry with a sl), personally I am waiting for market to show more clear signs. Only trade current line if you can babysit your position all day long. No need to rush to buy, weekly RSI is hinting that we will be here for a long time (3k-6k) Have a nice day!
NOTE: This idea follows Bitfinex price.
