Everyone says that now is a good entry point to buy Bitcoin and now is a small correction like before it was. But previous corrections were no more than on 40 % what was perfect for next up movement, now It made 54 % correction from 20 000 $ and I guess it is not over. Why? Looking on past price decreases we can notice that after sharp dump the immense buy volume was appeared on the dip and of course it influences on price in future. Today situation is not similar , 2 falls from 20 000 to 11 000 and from 17 000 to 9300 dont have buy volumes like before , only huge sells from the whales. And you are not right if you think that it is due to news , you only get news when whales sold needed ammount.So not to lose your money your should understand Big people's actions . For example I lost nothing on this dump because I predict market panic sell. Countinuing bitcoin's analysis , also I must say you that crossing MAs on 7d MACD shows the beginning of downtrend , you should check similar situatuin when 1d MACD crossed on 17 000 $ at first time after some monthes and after that price dumped to 9300. But is was only 1d MACD not 7d MACD like now, so dump can be more deeper. Also the trend line of 7d RSI was broke out and it is one more sign to be careful. Good luck)
הערה
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Are you ready ? I guess that crash started , but not everyone understand it.
הערה
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הערה
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Wait for the touching support at 8k lvl, must check volumes
We have 3 price retracements in bull market - 30% 50% and 60%. It also meets Fibonacci retracements.
If we will have more than 70% retracing - we have to say, that bull market is over, and most likely trend reversal.
Spectre-788
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This is not a crash at all. I guess the bigger the upside , the bigger the correction. Look at the 200 MA . Its at 7800-8000 level. I expect that's where we'll find new buyers and major support. Sometimes you just gotta look at the sentiment of new people around you and what they think of the current price . As far as I see they are not really jumping in at current levels and the perception is to let it come down a lil bit . It also lines up with the TA. Of course if the 200 MA doesn't hold and the market falls below , then that will be concerning.
RockinRan
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Welcome back brother you have been sorely missed. I am new to crypto Trading and I look forward to your insights. I am trying to learn the signals myself but have profited somewhat from your ideas. Don't go away for so long again.
Thanks,
RockinRan
@fiksiplay What uncertainty! We would appreciate you updating this trade with your most recent opinions, buy option at 7500. Thank you.
without_worries
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Agreed - nevertheless, if you go long until the end of 2018, you'll be okay. Few people will deny this year is going to be an impressive bull run in general.
the_sunship
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agree!
asdasd89768
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Great analysis. I think the lowest it can go is 9k region, considering there is no major news released while in downtrend.
If we will have more than 70% retracing - we have to say, that bull market is over, and most likely trend reversal.