Bitcoin BTC Jan 28 Afternoon Update. Bear and Bull Scenarios. Be Prepared
It is imperative we become reactive traders upon breaking critical points. Regardless of the trend direction, both bears and bulls can profit when making quick decisions upon apex breakout.
We see BTC reaching a critical apex. We are mixed with both bull and bear signs. Here are some possible scenarios.
Here is a bull scenario where this trend support holds, we reach apex, and breaks up to test $13K ranges.
A scenario were the apex breaks down to ascending triangle. The previous resistance becomes a support. Then upon apex, we break up or down.
We also see it's possible to entirely trend to a lower support range.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
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Been following you on twitter and glad you have a steemit. Before you, I was watching haejins but I’m enjoying yours a lot. For sure you going to be a top
Same here. I have been following Haejin for a long time, and still am, I like the way he looks at the whole crypto universe. Haejins strategy is different than yours , much more long term, while your strategy is different. It’s quick and vibrant, with calculated risks, and I like it a lot. I’m sure that your followers on YouTube and Twitter will follow you here, and your blog will explode. I’m almost sorry, as I saw with Haejin that it also has it’s toll. @philaconecrypto, I hope when you are a famous steemian that you don’t forget your first steemian fans ;-)
<3
Hi @philakonecrypto ! Great post, i like it, i just upvoted it ! @wildvest
Thank you! Glad it has helped.
Thanks a lot for the Analysis @philakonecrypto. I think Bitcoin is very volatile right now. If we observe the crypto universe - In the coming days then we expect to see some great events lined up for Bitcoin all over the world.
BTC price might show resistance for today but again from the social POV, it will be in the news. Hope to see charts go as high as possible. Cheers! 🍻
thanks for the kind words. I agree extremely volatile which is the best! loving it and hoping to see great things soon from BTC
Same here. I see that market is going great now. What do you think about Ethereum and Litecoin? Both of them have grown substantially enough, I think they will see resistance next. Or it depends on Bitcoins growth as well?
Thank you for the analysis you provide everyday @philakonecrypto. I am learning a lot! Sometimes hard to put aside my personal bias for what I want to happen from what the charts say.
Great post, BTC is at a critical point!!
Great analysis. What do you have on your fundamental radar concerning BTC - any major events that could influence price one way or another?
I've just read an article regarding Perth Mint possibly creating their own cryptocurrency - https://news.bitcoin.com/103444-2/
The price is starting to gain momentum back up, news has settled down a lil bit, thanks for the TA (best thing on Steemit) :D Check my lastest Bitcoin post if you wish!
thank you for the kind words. Much thanks for following me and I'll be happy to reciprocate the follow and upvotes.
Thank you so much for your analyses! I'm learning a lot from you!!
Great video as always! I also love how we all support each other with upvotes and follows on Steemit! Keep us posted when this breaks.