Bitcoin don't go down over long term - cave man can see that. Let' s agree that history agrees that Bitcoin is a net-winner over the long term without a doubt. I am only making this clear as I am posting a long term weekly TF chart of Bitcoin, so let's go ahead and establish the fundamentals of my bias.
So, I put in a lot of coinciding indicators to confirm this, and there are more I could've pointed out, but those are too simple, such as RSI, volume, etc - I am craving a deeper analysis than that to support my idea of bitcoin potentially going to 30K and above. Simple ABCDE elliot waves line up with the 78.6 along with the 61.8 on the way back down for E - that is promising. Also, look at the trading range we are in with such great historic support at 6K, look at the buyers eating those wicks up - it is because they know the probability of making money when buying there is so great, you have to be a cave man to short that area first go-around. That is why $8300 is next to be hit before thinking more downside to $4900. Whales know this and will continue playing these monthly scalp trades. Keep it simple! Here are the two best plays right now:
Long 6K. Short 11,800. Close out anywhere between 8300-9500 on either long or short for a safe trade - you can't be perfect every time, so take that profit while it's there - don't get caught up in those dangerous waters. Safe, professional traders will only swing trade max five times a year, but they're so profitable that it's all they need. Play the big, obvious trends; not the unpredictable, no historic support/resistance areas. Good luck everyone.
DISCLAIMER: I DO NOT OWN ANY BTC OR CRYPTO
So, I put in a lot of coinciding indicators to confirm this, and there are more I could've pointed out, but those are too simple, such as RSI, volume, etc - I am craving a deeper analysis than that to support my idea of bitcoin potentially going to 30K and above. Simple ABCDE elliot waves line up with the 78.6 along with the 61.8 on the way back down for E - that is promising. Also, look at the trading range we are in with such great historic support at 6K, look at the buyers eating those wicks up - it is because they know the probability of making money when buying there is so great, you have to be a cave man to short that area first go-around. That is why $8300 is next to be hit before thinking more downside to $4900. Whales know this and will continue playing these monthly scalp trades. Keep it simple! Here are the two best plays right now:
Long 6K. Short 11,800. Close out anywhere between 8300-9500 on either long or short for a safe trade - you can't be perfect every time, so take that profit while it's there - don't get caught up in those dangerous waters. Safe, professional traders will only swing trade max five times a year, but they're so profitable that it's all they need. Play the big, obvious trends; not the unpredictable, no historic support/resistance areas. Good luck everyone.
DISCLAIMER: I DO NOT OWN ANY BTC OR CRYPTO
הערה:
Also, the date ranges I have there are to show the longest period between Bitcoin making a new ATH. My chart shows us repeating a similar length before making a new ATH.