[ Bitcoin ] Weekend Pull Back, before next up swing?
We had a very good run to $9935 on Bitstamp last week and over the weekend we saw a pull back to $9221. Currently we at $9325. I was hoping that we will see a break of $10k over the weekend but the Bull run out of momentum and the bears took some profits.
I think this pull back was good for bitcoin as it gives the charts a breather and allows bitcoin to make a new higher low before the next charge UP.
I think we will see $10k tested again this week and this time the Bull will have more legs to break it.
One big positive about the pull back is that if gave my crypto trading bot time to buy loads of new positions. My bot only buys when the price goes down and sells when prices go up. With the up trend of last week all my lots where sold with good profits. The auto trading bot is using 70% of my pot in new positions.
Here is Dan from the Chart Guys with a longer detailed video on technical analysis of Bitcoin, Ethereum and more.
Will we break $10000 this week?
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Colin Brazendale
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I love Steemit and I have been blogging here since June 2017. I am always looking for ways to increase my Steem and SDB holding. Lately I have started trading bitcoin and altcoin using an auto trading robot. So far it is going well, and I am in profit. 😊
Most of my time is spend on internet marketing for my clients on Google Adwords, but I also love network marketing on the internet.
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I missed out on last weeks run. The pull back has allowed me to get more bitcoin at cheaper price. Yes, I am hoping to see $10k broken this week too. :) Go Bulls.
This is the strongest we have seen Bitcoin in the last 4 months since Dec bear market. I think we have turned and ready for bull market.
May I ask what bot you are using for autotrading?
Other than that, great article and good insight. I, too, do think next time we will break the $10k!
I am using Zukul Trade bot @cryptogerman. What are you using?
Nothing so far. Hence why I am searching for input. Gonna check Zukul out, thank you!
Yes, please do. Thanks
Great analisis
Thank you @viterbo
good post
Thank you @yobana
A Chinese angel investor with $1.5 Billion net worth had less than 10 Bitcoin in Dec 2017.
He spent a few weeks learning about the technology & benefits. In less than four months, he has now accumulated 10,000 Bitcoin.
Moral of the story: Do your research. Learn. Get onboard.
Wow, that is an amazing story. Who is this Chinese investor by the way @nzfxtrader?
His name is Cai Wensheng - http://bit.ly/2HXYYzb
Thank you for all that detail. I will check it out.
Coins mentioned in post:
Price peaked at $9,800 then people FOMO'd in believing this was THE move above $10,000. A slightly higher high is a BEARISH signal and typical of a rising wedge formation.
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