How low can BITCOIN go?
Good morning/evening wherever you guys are in the world !!
Hope you guys are doing excellent :)
A bunch of people asked me what in the hell is happening with BTC in the last few days. Here's what I think of BTC.
-I believe BTC is currently in a 5th wave. IT IS NOT CONFIRMED YET, but very close to be and it sure is going that way as we speak. Now, when will we have a confirmation that it is really going down? well, as you can see on my chart, I drew 2 different small level I believe around the 9300 and 8000 area. these are 2 of the most important level in this current downtrend that we had a hard time going through during the last wave (Feb.7th to 13th) so I'd expect that we are going to have a hard time going through these on the way down (QUITE SIMPLE ISN'T IT?). Well, it just doesn't have to be complicated sometimes. We have to see an open/close candle under the 9300 area, in my opinion, to really ensure we are going down in the 6000-3000 area.
-I've heard a LOT of people saying that BTC is bullish . Now how in the world does this look bullish to you? We're currently under the price it was the majority of this last 3 months still and are we not going down right now? Didn't we turn the table around 11k? Why is this happening?
-Are these people thinking it would be a healthy correction going from merely 20k to 3k without any bounce back up? Plus there is NO good reason to go in bitcoin right now. WAIT FOR IT TO SHOW US ITS NOT DOING THIS ANYMORE. Buying at the bottom is great but that's where the higher risks are and you know it.
-As you can see, I drew a green line where I expect it to touch the trend line one more time while being in the 9300-8000 area to solidify this trend line .
-Now, will BITCOIN stay down there or will it go up after this move? We can't tell yet but I HIGHLY doubt it will stay down here for the simple reason that BTC is the GATEWAY to all the alts and obviously is the center of cryptocurrency as we know it currently.
-Remember risk vs reward is what you should be hunting for in this crazy volatile market. RISK MANAGEMENT should be your priority. DO NOT GAMBLE. Just keep an eye on it and let the chart show you the way :)
-Again, this is my opinion and not a financial advice. you guys trade at your OWN RISK. BE SMART.
Make sure to follow me if you liked. I will be posting different coins on telegram/twitter and here of course. LOVE YOU ALL :)
Pan / CryptoCerwin
Twitter : twitter.com/CryptoCerwin
(telegram link on my twitter)
Hope you guys are doing excellent :)
A bunch of people asked me what in the hell is happening with BTC in the last few days. Here's what I think of BTC.
-I believe BTC is currently in a 5th wave. IT IS NOT CONFIRMED YET, but very close to be and it sure is going that way as we speak. Now, when will we have a confirmation that it is really going down? well, as you can see on my chart, I drew 2 different small level I believe around the 9300 and 8000 area. these are 2 of the most important level in this current downtrend that we had a hard time going through during the last wave (Feb.7th to 13th) so I'd expect that we are going to have a hard time going through these on the way down (QUITE SIMPLE ISN'T IT?). Well, it just doesn't have to be complicated sometimes. We have to see an open/close candle under the 9300 area, in my opinion, to really ensure we are going down in the 6000-3000 area.
-I've heard a LOT of people saying that BTC is bullish . Now how in the world does this look bullish to you? We're currently under the price it was the majority of this last 3 months still and are we not going down right now? Didn't we turn the table around 11k? Why is this happening?
-Are these people thinking it would be a healthy correction going from merely 20k to 3k without any bounce back up? Plus there is NO good reason to go in bitcoin right now. WAIT FOR IT TO SHOW US ITS NOT DOING THIS ANYMORE. Buying at the bottom is great but that's where the higher risks are and you know it.
-As you can see, I drew a green line where I expect it to touch the trend line one more time while being in the 9300-8000 area to solidify this trend line .
-Now, will BITCOIN stay down there or will it go up after this move? We can't tell yet but I HIGHLY doubt it will stay down here for the simple reason that BTC is the GATEWAY to all the alts and obviously is the center of cryptocurrency as we know it currently.
-Remember risk vs reward is what you should be hunting for in this crazy volatile market. RISK MANAGEMENT should be your priority. DO NOT GAMBLE. Just keep an eye on it and let the chart show you the way :)
-Again, this is my opinion and not a financial advice. you guys trade at your OWN RISK. BE SMART.
Make sure to follow me if you liked. I will be posting different coins on telegram/twitter and here of course. LOVE YOU ALL :)
Pan / CryptoCerwin
Twitter : twitter.com/CryptoCerwin
(telegram link on my twitter)
บันทึก
Here's a quick update!I am NOT changing my mind on the BTC 5th wave until they SHOW ME that its doing something else!
Now how will I know they're not doing it anymore? I'd want to see a SIGNIFICANT break of the trend line and a come back (perhaps hit the trend line) and then up we go.
Like I mentionned previously ... I expected btc to hit the trend line one more time to solidify the down move.
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน