[ Trading ] Bitcoin bounce to $8600 next according to Wyckoff method!

in #trading6 years ago

You would think that I learnt my lesson in May with that pull back and not fall for the August pull back. No I did not and I did not even follow my Martin Trend indicator. No I thought I was clever and could time the next bounce myself. NOT so.

Yesterday’s dump caught me off guard, think that that the next bounce is incoming. So last night I watch how bitcoin dumped from 7100 to 6500 and this morning I see it went to 6424.

Are we in for a bounce? According to the Wyckoff method, YES! I am amazed how bitcoin is following this chart.

Source: https://www.tradingview.com/chart/BTCUSD/u6EwYexp-Bitcoin-Wyckoff-Method-Analysis/?utm_source=notification_email&utm_medium=email&utm_campaign=notification_follower_idea_update

Do you think the next stop is $8600?

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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. 😊

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thanks for the tips.

Very helpful yes

Hey @colinbrazendale, unfortunately, barring some really bullish news I don't think we've seen the bottom yet...

8 600$ is a long way without any good news... What do you think?

Yes, it is. But anything is possible with Bitcoin remember. :)

That's true! But there was a speculative bubble last year... I'm long but the market is bear so I hope that will change :)

Totally! We can see that now. Last year it was blue sky all the way up. Now we in a long bear market. Absolutly the oppiste from last year. And it is not over yet. 6400 must hold.

Oh yes but we are very close to $6400... Next hours, days, weeks will be very stressful!!! ^^

Tone Vays negative view comes into play again. He says 5100 next stop and lower later. :( Watch from 8 min in video:

Wyckoff method must hold at 6400. Otherwise it is Tone Vays view of the 2014 correction. And that means 3500 bottom.

We are waitting september, August isn't a good moment for BTC and Alt...

I see the video of Tone Vays, thank you! For the moment the market isn't at 5100, but in our company we're thinking about a next stop at 5900... So we are again in a bearish market!

Maybe it's the best thing to do!

I vote for next stop $8600. Go Wyckoff!

Yes, but support must hold at 6400. If this breaks we are going way down to 5900 and lower.

Well we analyze to death as humans but I found your piece of chart analysis interesting followed you and upvoted!

Thank you for your support. Let hope this chart is strong enought to hold Bitcoin up. I don't want to go below 6400.

Sounds like a plan

It's just so sad that the whales have such a power to kill all the optimism in us. 😐

It is a brutal bear market.

Thanks for the info and the tips! Keep up the good work.

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