Bitcoin short term strategy rumble

in #bitcoin8 years ago

Lets look on the one day chart, everyone has the same question, when the price reverse. I think the good buy area is little bit under the triangle, it’s from $6800 to $7050. Although the trend lines are not the best indicators I believe, but I think we have a good support because of the zig-zag price action from beginning of April to the April 12. So this support is in the range of 6800 to 7050. Plus this period of time had a good amount of volume. I can imagine price would go down to 6800 then bounce back, I can’t say if it’s going to be a full reversal to the upper border of the triangle. There’s possibility to make money in a short term currently. If it would go down, I will place order to buy around 7050. Another buy order I will place somewhere around 8850. After the first buy order will be filled I will place stop sell order around 6650, in case it will go down under the triangle.
I don’t think I will put a lot of money on the orders above, so it will be really humble amount of my portfolio. As I mentioned above I think it’s a short time opportunity. I don’t see we will get big reversal very soon and I don’t think we will get sharp big reversal, I think it will be slow kind of a big reversal.
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