Bitcoin falling wedge 10% uptrend correction
We are seeing a Falling Wedge formation and bitcoin has already followed this pattern for the last 12 hours very strongly.
In this next picture you see the downward trendline i have drawn to create a resistance line to which the market might drop back down again or break out of. Looking at the strong support line however i suspect a breakout to be more likely.
We are looking at a total 10% Profit Gain correction on bitcoin in the coming hours/days.
My name is Kevin and i am an Investor, Long term holder and Analyst.
I was one of the very few people on steemit who precisely predicted when the rise of bitcoin would go towards 10k.
What you see is what you get,I share what i know and you have the opportunity to follow what i share or not, Please be aware to always do you own research when not sure about investing, you alone are responsible for your precious digital assets and fiat currencies.
just to understand so you think bitcoin will go down in the next couple of hours to $12980 and then go up again.
Looking at the trend line downwards, which functions as a resistance to pulling the market down the odds of this happening are greater than it rising above it at this time.
For example we could be seeing the following outcomes:
In this instance bitcoin breaks out to the downside, but countless of rejections in the market at previous times and so i do not think we will see a massive dip, i do see bitcoin rising once again to a new high very soon.
I'm speculating on going down in the next couple of hours to $13400- $13500 so I can buy back in.
I would say once you see a rejection candle as such:
or any wick towards the downward position i would buy in, but that ofcourse is my general take on it, but it may very well drop further.
right now looks like this and seem that will continue to go down...
Things can change rapidly just keep that in mind.
But usually when you buy bitcoin you can buy the price for a certain moment before it expires so as long as you keep your eye on it. you should be fine.
there is a small support at 13345 so yes this is very likely.
since when are you activ investing in crypto?
not the best memory but certainly got in around 2013
not bad man, unfortunately i just started last year! I hesitated too long since i also didnt have much knowledge about what crypto currency really was/is.
you're right on time, crypto is barely getting started ;)