The Bitcoin Demand Area I'm Waiting For

in #cryptocurrency6 years ago

Going to 8500 would be a sign of strength for BTC

Everyone talks about bitcoin crash, but in my opinion is a quite normal retracement, and i'm waiting till it hit the strong demand area + 61,8% fib + complete the trendline to buy and hold bitcoins.

Notice the "demand area" how the price earlier went to the moon in no time, and that's a sign of many buyers in this area.

It would be a great thing if this stuff all got sorted and the 'threat of 8K' was taken out of play. Big money has too many alternatives right now and we definitely need new money entering the space. Expect some hiccups on the way up, as people will be leaving en masse once they have recouped their losses and new retail investors are more hesitant to enter.

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Great analysis @tradewonk. It does look like it is all about support/resistance/Fibonnaci levels and fractals.

Why don't you trade using Renko charts on Tradingview? It clears out the noise significantly and you can automatically spot the fractals and trend reversals. Add a 3 EMA indicator and RSI and your set!

Do you use Elliot Wave theory in your trading decisions at all?

I just have studying candlesticks in many years, so i am used to watch them.

@tradewonk. I just came to a similar conclusion in an analysis that I posted yesterday. I was looking at the inverse correlation of ETH to BTC, projecting the trends into late February. Could you check it out and tell me what you think?

Ai có thể giúp tôi biết thời điểm nào mua coin là tốt nhất??

bitcoin will definitely pick up

Nice summary by TradeWonk.
We need to see a violent correction to below 9 000 usd, then retest it and we will have a continuation of the uptrend. This is going to be a vital refreshing for the market. Expect to see some down pressure and consolidation for the Crypto market during Feb-Mar.
HODL long and strong our portfolio

I only wish I had funds to buy more BTC,

in a market as volatile as bitcoin, is technical analysis easier or harder compared to traditional markets like stocks?

both, it allows some advantages like watching across multiple exchanges and getting a jump on trades before arbitrage kicks in on movements, but harder in other aspects like having things like ascending triangles break bearish or random impulses come out of nowhere

it is a great opportunity , good job

I think it is great opportunity for those who was waiting for dropping the Price of BTC.

I'm really worried about the future of cryptocurrencies. Great article. Upvoted.

Good to hear been watching it for a while now an i was getting the same observation more money more money !!

very good work, it was worth translating to read it

People are scared to be greedy.
buy and hold alcoin
come to greed :)

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