BTCUSD Weekly chart in Bitstamb Ex.
As you can see in the chart, we have long time channel that is VALID during time. in my opinion, Bitcoin has two down trend ways and no uptrend!
These two ways can be:
1- PULLBACK to BIG RESISTANCE which was 19400$, however this price can be EXCELLENT support now, but in 2017 made bitcoin drops to very low prices.
2- According to channel, price likes to go further down prices and touch the support line which can be 10000$. this number is(and was) BEST price for investing in cryptocurrency.
In other hand, if we look at ICHIMUKO indicator(=GOD OF INDICATORS) there are some BAD news which are:
1- kijun sen CROSSES tenkan sen in downside way.
2- chikou span is in candles and stick to them.
Conclusion:
If you are investing in crypto you can SELL and buy in low prices or wait for 6-12 months
If you want to invest in crypto you should wait for better prices
If you are trading be careful about stop loss!
GOOD LUCK,
Dr. MMZ
These two ways can be:
1- PULLBACK to BIG RESISTANCE which was 19400$, however this price can be EXCELLENT support now, but in 2017 made bitcoin drops to very low prices.
2- According to channel, price likes to go further down prices and touch the support line which can be 10000$. this number is(and was) BEST price for investing in cryptocurrency.
In other hand, if we look at ICHIMUKO indicator(=GOD OF INDICATORS) there are some BAD news which are:
1- kijun sen CROSSES tenkan sen in downside way.
2- chikou span is in candles and stick to them.
Conclusion:
If you are investing in crypto you can SELL and buy in low prices or wait for 6-12 months
If you want to invest in crypto you should wait for better prices
If you are trading be careful about stop loss!
GOOD LUCK,
Dr. MMZ
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