Bitcoin analyze after CME. Reading charts.
Let's analyze BTC to see what could happen!
At the moment, TA won't help us too much but we need to know key levels because whales are following TA so they could post buy orders at potential supports so I will bring you potential suppors.
BTC 4 hours chart: http://prntscr.com/i5uai6
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) Potential supports at 10k and 9.1k
BTC 12 hours chart : http://prntscr.com/i5udu6
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) Potential support around 9.3k
BTC 1 day log chart: http://prntscr.com/i5ug3d
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) Potential supports at 9.6k-9.8k and at 6.5k
BTC 1 day chart : http://prntscr.com/i5uibs
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) EMA 200 is showing strong support at 8.7k. BTC never crossed EMA 200 so it is very strong support. BTC crossed EMA 200 in June ( http://prntscr.com/i5ujsp ) but it closed above that level so it is still unbroken.
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) So to sum up, BTC is already down too much so the lowest point could be to touch EMA 200 and then bounce up. I will keep you updated all day because today is important day as I said before.
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*Disclaimer: We are not crypto gurus nor we are claiming to be. This is not financial advice nor investment recommendation. Please ask licenced financial advisor in your country for financial advice. This our humble opinion and the main purpose is to share it and learn new things along the way.
What do you personally think is going to happen to Bitcoin?
Very good and simple explanation! Upvoted! ;)
That is quite simple, It will happen what ever whales want to happen, why is that ? With such a high transaction fees Bitcoin is nothing than mere utopian idea without real purpose, so it is a " whale s" toy. Lightning Network should resolve that. So, this year we should see BTC in new ATH. Until then, we could expect few market correction, crises etc. I am personaly optimistic for a long term. But at the moment I think we could expect one more time blood on the streets. however you should play on three sides 1. Hold promising alts like NEO,ETC,STRATIS etc. 2. HOLD BTC and 3. HOLD Fiat (or Tether) to purchase more BTC if it crashes to 6 k. Today we plan to post How to manage your portfolio and how to profit from bull or bear market. BTW check out our introduction post if you have time https://steemit.com/cryptosignals/@crypt0signals/introduction-future-crypto-experts
Cheers
Yep, I made a mistake No3 :)
When it all fell, I ivested all my petrodollars, and it all fell a bit more. Now I wait.
There isn't worst thing than have funds stuck in a trade without having extra funds to buy again cheaper.
the worst part is waiting and looking all those opportunities passing by :( :(