Bitcoin Levels that ACTUALLY Matter
Image Courtesy of https://goo.gl/images/cVihML
Bitcoin and Alts have began the bounce. The backtest of previous levels of resistance that I said was going to happen a couple weeks ago. Many people are going to get very bullish crypto in the coming weeks.
Crypto is exciting! Don’t get me wrong, in fact I have never been more excited about crypto now than before and I have made plenty of mistakes along the way. The amount of POTENTIAL that crypto has for the future i believe has JUST NOW permanently engraved itself in the history books.
In my opinion, crypto is going higher, but when?
Well.
As you can see below we have 4 important levels I would say that include 3000, 5000, 6300, 9800, and 11600. (By the way DONT listen to the peoplen on TV talking about how 10k and 12k are IMPORTANT levels....they aren’t.
They are just large easy numbers and are click bait.
The important one are 6300, 9800, and 11600.
I am going to go ahead and tell you now that the first run back up to 11600 is going to fail. Then we start to measure and map going forward with what the chart says.
Bitcoin bubbles correct through both price AND TIME. Correcting through Time is a good thing. So as long as bitcoin is above 5000 i think it is safe to buy.
I will say that I personally believe that bitcoin will retrace back up to 11600 and get everyone bullish alts, then come back down and make a LOWER LOW to shake everyone out again and get the bears growling.
THEN. The low is in and the march to new highs can be made.
Obviously i can change my mind whenever that is what traders and investors do but i think this is the likely scenario.
Buying the dips. Which Alts will bounce back the fastest and why?
You want to be looking at ALTs that are currently printing highs or near highs...EOS, WAN, BAT, STEEM etc.
excellent..and sentiment indicators right now , very cautious..
Wheres the fractals and the crosses? Just Kidding I appreciate an easy to read crypto post! Thank you for the lamens terms!
LMAO, thanks...sometimes you just have to delete eveyrhting and go back to the ole basics haha
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