Bitcoin: What’s New and What to Do
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Firstly, I want to say thank you so much for your comments to my previous post! In spite of the post was banned, your words became strong motivation for me to do what I have been doing here for 3 years. You are the best!
Also, I made important conclusions from the whole story. Now everything is clear, and I don’t have any illusions.
Secondary, now we all must be very polite with each other and with the platform we use. Because in other way we will break the House Rules. Just for your notes:
“A publication should not be used to voice complaints, grievances or disagreements with policies, to insult or ridicule other members, or to create conflict within the community. This includes directly or indirectly mocking, misrepresenting or abusing other published ideas or analysis»
There must be peace and love in comments below each post. In other way, we will be banned. The World with peace and love only – it is the amazing World! Don’t you think so?
And now, in order not to be banned one more time, let’s talk about Bitcoin .
After reaching 10 000 support again, the price could not break it. The support acted as it should act, and we saw a new upward movement in the hourly timeframes.
But if you look at the daily chart , you will see that market moves in the borders of the triangle where a new swing movement become less and less than the previous ones. It tells us that the market consolidates before a new jump. Will it be upward movement or the market drop to the previous support lines – we will see. It will depend on the fundamental reasons and the direction of the breakout.
For now, the market does not provide any trading opportunities based on the daily timeframe . As for hourly charts, you can try to catch small movements, but it will be high-risk trading in the unpredictable market. Do you need this or not – it depends on you and your trading strategy. I would like to wait for the breakout from the triangle and trade based on this signal and the daily timeframe .
Thank you very much for your attention! I will be very grateful for your comments and likes below this post! If you have any question – you are welcome!
Source: TW DLavrov