Bitcoin Trading Price Analysis
We have had some monumental moves in the Bitcoin market over the past year, time for a healthy correction!
The image above shows a sell off top!
These moves usually start with a big blow off top bearish engulfing candle. Once we do recognize this pattern in the market, the next step is to use trading analysis tools to project future probable price levels.
I like to use the free fibonacci retracement tool on bitcoinwisdom.com
Below is a chart from Bitcoin Wisdom, I have color coded the buy zones according to risk. The dip is nearing the "Caution Zone" What we want to do is watch for a bounce in the green " Buy" Zone before we pull the trigger! Remember there could be a large "Front Run" all the way up into the yellow zone if there are more buyers than sellers down in the green zone. $3600-$3800 is the area which I am most interested in for picking up some more Bitcoin!
@coininstant - Very useful analysis Sir. I'll follow your guidelines & set buy at $3400 - $3600 support level. Love your work Sir. Therefore, I wish to ReSteem your post.
+W+ [UpVoted & ReSteemed]
@coininstant,
Yeah BTC is at a market correction and I hope it will rise up again. According to your analysis if it hit the danger zone I thin it might show a up trend in very soon.
Great analysis and thank you very much for sharing such great tips with us!
Really appreciate your effort!
Cheers~
amigo #resteemia at your service
'$3600-$3800 is the area which I am most interested in for picking up some more Bitcoin!' perfect, i'll enter the market at that zone. nice tips @coininstant
ReSteemia
'UpVote ReSteem Comment'
Bitcoin top market.
I believe we passed from the danger zone so we are safe for the moment.
sir please please can you add me in your auto vote program its hamble request
The biggest secret that traders don’t want the world to know is that anyone with a more or less sane disposition can do what they’re doing. The trick is getting access to the trough, to the P&L, to the “book.” The road toward it is tough, treacherous and crowded. On the way there, you will be misled into believing that in order to be a trader you must have a physics PhD, or know how to write code and build models, or have a top-school MBA, or, when all else fails, just be a young Caucasian male. But in the end, it doesn’t matter who made it to the top. In the end, it all comes down to merely placing a bet.
You have posted a beautiful of Bitcoin. I am also buying BitCoin. I have also done a lot of profits. you have a nice day.
Now the price of bitcoin is so much fluctuating. Hope it will stable and go high.
thanks a lot @coininstant for upvote my site. but sorry, i don't have a lot steem power to support all of yours
Your welcome, your votes and comments mean a lot! Thank you!
yeah, nice to meet you