Bitcoin Correction Nov-Dec 2017
Bitcoin Correction Nov-Dec 2017
Inspired by my peers on Crypto Day Traders Club, here is my take on what is going to happen next with Bitcoin.
#bitcoin #correction #fearnot #short #trading #moneytime #signow #TA #technicalanalysis
Let me clear something: I like Technical Analysis but I do not solely rely on it. Specially the tools. Fibonacci measurements are interesting as a point of view, not as a cross for the catholic. I prefer to get used seeing price movement of hundreds of coins and understanding how people / markets react, have a statistical angle and use mathematics on objective measurements such as volume, duration of each bear/bull run, probability of certain types of movements. On top of that add the psychological aspect and the news / historical moment Bitcoin and all digital assets / currencies are going through slowly making it into the mainstream media worldwide.
So for the marked circles on the possible bear trend curve crossing the fibonacci lines, don't take them too literally.
It depends a lot on what happens next. We may see a slow down on the bear trend or a more aggressive drop, both are possible. I do not thing a reversal in trend around 9200 will happen although also possible (low probability).
A poke on $8400 is possible but still depends on what happens on the next 24h so a maybe there. If we reach and break this maybe point, then $7600 is very possible and $6800 unlikely but could be touched by a brief moment - only those with premade positions will grab that, possibly not all orders will be fulfilled due to the super fast touch there.
Again, all the above could turn into bullshit, we will know soon.
FULL CHART
https://ibb.co/gAu2Pb
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BTC - 1Mi8GX4yffe7MBbmtuaFKKfzKYtj9ggfLS
ETH - 0xC25Ad8dA5B3a3FBb5fD3822df76eF8A10e155395
LTC - LSZgbVmiMZqiuoj1k9TGCFxksRHrEFEhp1
This is not financial advice!
Invest and trade at your own risk. NOBODY is right all the time. They only have to be right a few times and have a great strategy and risk management to make money. Be careful, invest at your own risk.
Crypto Day Traders Club
is a Facebook group I created for likeminded individuals who are serious about day and swing trades. Not a place for people looking for easy ways to make money. There people work hard to make their buck, good bucks. We share trading insights, techniques, opportunities. Fundamental and Technical analysis ideas and facts. Always backed up by accordingly explanation, no posts or comments that don't add value to the subjects discussed.
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