Moving Average is White Bar
Hello, if we go back to 2017/11/13 and see the moving average, we can see that it is the first time since bullish breakthrough, since maximum record we see the candle stick are moving in a reverse position. Since 2018/01/15 we see prices going below moving average.
I think this is the first major signal of bearish market and prices falling to the Supports at 8000 and 5800. The 10k Support i think is a fake support as i saw order books and just seemed to be triggered by scalpers or orders placed beforehand.
If the BTC Price go below 10k i want you guys to check for 8000 S1, and 6000 as S2, should it continue moving downwards i want you to check the 3700 S3 area. However this escenario can only happen in the most extreme of circunstances...
Scenario 1: Price does not go below 10k, and BTC price recovers up, if this is the case, 12.8k R1 would be a nice indication of bullish pressure being too great. ... Somewhat Likely
Scenario 2: Price goes below 10k, next support level is 8k. This is an excellent time to buy.... Very Likely
Scenario 3: Price goes all the way up to 6k, this i think is an extremely strong support, anything below this could indicate a huge market correction.... Somewhat Unlikely
Scenario 4: Price stays all the way to 3700 area. Extremely Unlikely
Scenario 5: Below 3700, Start panicking (lol) or wait to buy in the 1200 area... Extremely Unlikely
P.D. This would be a short strategy, i label it neutral, because shorting on BTC is a bit suicidal...
Disclaimer: I am not a professional trader, i am not responsible for any losses you may incur, only invest money you are willing to lose.
If you like my ideas, follow me here or on my youtube channel.
www.youtube.com/chan...NqXnH05SWnqCtU82SwWQ
You can also see this idea on video here... www.youtube.com/watch?v=hVOPtDxk...
If you want to start trading at a good crypto exchange and support me in the process
Visit bit.ly/BinanceFX