Price bounces from Kijun and RSI confirms price reversal. DMI confirms trend market conditions. We have buy opportunity. Entry level for long trades is above 2745.00 level. Stop orders must be placed below 2600.00 level and take-profit orders at the resistance level.
You have been very right over the last times, when I doubted your calls. :) An observation I have made over the last few days is that the order books on both the buy and sell sides are falling quite dramatically. About halving in size for the top 500 orders on bitstamp. What are your thoughts about that?
I think you could be right that BTC is going to make one final push though. But reversal is imminent. Looking at the 5 year graph, one can see the rise is just as crazy now as the pump at the end of 2014. It is not sustainable.
DLavrov
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@torjusg, thanks for your interesting comment! I think you are right! Probably Bitcoin drops to 2000 level or even lower. It must be because markets can't move in one direction all the time. Buyers will close their long trades in profit and we'll see price reversal. Will it be just a correction wave or trend reversal... well, we'll see soon.
I think you could be right that BTC is going to make one final push though. But reversal is imminent. Looking at the 5 year graph, one can see the rise is just as crazy now as the pump at the end of 2014. It is not sustainable.