Crucial moment for Bitcoin - Bull trap incoming?
I will make this clear, this is the unlikely situation to occur. Especially since Litecoin is having another breakout session, we all saw it has the potential to slingshot Bitcoin above key resistance lines. Now would be the optimum time for that ever so important 12K resistance to be broken. Indicators that are pointing upwards need to stay pointing up for Bitcoin and Litecoin, but they both seem to be peaking (In the short-term).
The daily candle charts indicates we are in a crucial turning point for BTC. We have yet to see if that means it will skyrocket past 12K or we go for a new low for 2018. Market is highly overbought when looking between the downtrend lines. Many indicators are starting to peak and without a second wind Bitcoin will be unable to crack that key resistance. If it fails to do so, this graph will become terribly accurate. Below are possibly trade suggestions.
Sell limit order is set right below 10.3K (Correct) - Buy back within or around the lower 'Buy Zone'. For GREAT long term positions.
Buy limit order is set right above 11.75K-12k (Incorrect) - Buy back in or get more Bitcoin within the upper 'Buy Zone'. For GOOD long term positions.
In the case I am correct, I will update this trade idea immediately.
BTCUSD
This information is purely for educational purposes and not to be used as direct trading advice. Only a potential trade idea.
Trade safely.
The daily candle charts indicates we are in a crucial turning point for BTC. We have yet to see if that means it will skyrocket past 12K or we go for a new low for 2018. Market is highly overbought when looking between the downtrend lines. Many indicators are starting to peak and without a second wind Bitcoin will be unable to crack that key resistance. If it fails to do so, this graph will become terribly accurate. Below are possibly trade suggestions.
Sell limit order is set right below 10.3K (Correct) - Buy back within or around the lower 'Buy Zone'. For GREAT long term positions.
Buy limit order is set right above 11.75K-12k (Incorrect) - Buy back in or get more Bitcoin within the upper 'Buy Zone'. For GOOD long term positions.
In the case I am correct, I will update this trade idea immediately.
BTCUSD
This information is purely for educational purposes and not to be used as direct trading advice. Only a potential trade idea.
Trade safely.
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Just wanted to update everyone. On the daily charts everything is starting to point downwards. In the very short term things are looking upwards, don't pay too much attention to another green candle. Our target buy zone should be reached in the next couple of days. Once 9K is broken we are actively trading!
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