Bitcoin finds a solid bid above key support zone
What a ride eh? So glad I got out at 4820 - that would not have been fun watching those profits disappear!
Solid bounce in the works at the moment - looks like the carnage may be over. Need to see where she closes tomorrow, but pair appears to have carved a higher low above 3600.
I withdrew my original risk and started fading in half size at 4500 with the profits, way too early in hindsight, but survived the ride lower and ready to get back in full size once I'm "sure" the low's in.
Team Aus footer by the amazing @bearone
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So you think these falls are just part of the wider bull market? Most other commentators are suggesting falls to below $3k before any sizeable recovery. Thoughts?
I believe a major factor in this recent correction for BTC, ETH and LTC was all of them reaching arbitrary benchmark highs in their respective prices. BTC nearing $5k, ETH nearing $400 and LTC nearing $100 all gave investors a psychological mark to sell-off and could prove to be a tough nut to crack in the short term. It could also provide an opportunity for medium term investors to buy and invest in crypto at lower prices. All 3 should shoot back up over the week or so and break through these arbitrary ceilings to reach new highs.
Am I the only person still buying bitcoin?
No.
looks like time to buy a little more
I see But There Is Research analyst Ronnie Moas said: "The price of the product will reach $ 15,000 - $ 20,000 by the end of 2020. The electronic currency has reached an upward trend and reached several times the price of $ 4500. This makes the coin worth about three ounces of gold.
I fill That Will Be True Soon
Goo Like :)
Soon it is up 5000 :)
Hey is "teamAustralia" for all Aussies?
I should sell my btc when it reach 4,800 and buy another today. I don't see it happen.
I think in a while bitcoin is going to be worth so much more.
Hope you made the right choice!
I got out with profit and got in again at advantage, I made two right choices :P
It's a difficult position to evaluate currently. Price is stalling just south of the 4400 level, but the daily candle is forming a doji around previous resistance - so the move below 4400 could very well just be noise. Looking at the trend the current retracement is big relative to the most recent upthrust, which does make Bitcoin look a bit weak short-term.
Looking at the 4000 level this could see another bounce before either a continuation upwards or a break downward. A close on the daily chart below 4000 would certainly change my bias further to neutral or bearish.