The bear market continues and I find it very difficult to trade bitcoin so I am still making losses. I still have my long-term holding, but short term I am out. There is very little upside and it is not worth risking.
It looks like the Wyckoff method could not lift Bitcoin to 7200 and the 6400 level broke.
Today I found another very interesting chart by xuanhaimmoer on Trading View. It compares the current Bitcoin chart to that of the Gold chart from 2013 to 2016. I believe people react the same way in the same situation and that is why I love TA. So if Gold was in the same situation in 2013 to 2016 as Bitcoin then I would expect the charts to behave in the same way.
Tone Vays is back on track with his prediction of Bitcoin reaching minimum low of $4925 and this chart predicts the same.
Read all the details here at source: https://www.tradingview.com/chart/BTCUSD/cc2ZfVB6-BITCOIN-LEGENDARY-ANALYSIS-COMPARING-WITH-GOLD/
I think we will see a small rally now before seeing more pull back. It is not worth the risk so I am not playing it. Maybe I should sell my long-term positions and buy again at 5000 in October when we reach the bottom.
Do you think we will go to $4925 by October like Tone and xuanhaimmoer is predicting?
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More information about me:
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.
I have been cloud mining for the last 2 years, but stopped promoting it due to the low returns from Jan 2018.
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Proof of earnings 18 May 2018. The auto trading bot made $170.88 in the last month in down market.
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