Well most of my publications are about airdrops (take a look of it) but I talked with a follower of the airdrops telegram channel that convenced me to do a bitcoin price analysis (or at least try to do it) and if my analysis will result accurate he will send me a couple of tokens that he got from one of the airdrops that I posted, if not I will do it, so lets begin with the analysis
There is big 2 ways to analyze any cryptocurrecy.... Taking in cosideration the news together with the previous prices or Taking in cosideration the predictions methods based on the chart together with the previous prices without consider the news (like Elliot wave for example), until december the second method was the most used and the more accurate to do a prediction but now with the "normal correction" that we are living thanks to "some friends" that we call the "C" (ask to the gold and silver market about them and I will not say more about it) use just the second way is causing that the predictions are incomplete, so first when the bitcoin reachs certain resistant level of the up or down trend we must take a look of the news in the crypto channels becuase according to that news we can predict in more exact way if from that point the trend will be bullish or bearish.
So after that little introduction this is my prediction:
$7400 - $7200 resistance level was broke easely (relatively) maybe becuase the fear to the death cross is living yet between the holders and the newly investors so in the next hours (days) the $6380 - $6150 support level will be reach, and in few days (hours) after that support will break, and the next support level is not in $5910 that was a temporal deviation of the $6380 - $6150 support, the next support zone is in the $5300 - $5050 and when the bitcoin reachs that level we must check the news to determinate if that support level is the end of this "normal correction" or if the final phase of the correction push the price to the $4400 - $4100 support level, according to the elliot wave model the final wave (support zone) of a correction must be lower than the previous so the previous was $6380 - $6150 and as I said the next support level its not around $5910 is in the $5300 - $5050 following that model.
My recommendations:
- If you recently buyed or have bitcoins a long time ago and you are a patient person and also and very important, if you invested money that you "can lose" without fall in bankruptcy dont sell it, hold until the correction finish.
- If you recently buyed but you buyed it between $7200 - $8400 sell it now and buy it again when bitcoin reach the next support zone (use a limit buy order to do it, instead to be in front of the screen all the time until the price reach that level), you can recover your loss and even gain when the price reach and overpass the price between $7200 - $8400. I dont recommend sell it if you buyed it for $8400 or more because we dont know exactly how the "C" will operate in short term when the bitcoin price recover the $8400 - $8600 level.
- If you are plannig to buy bitcoins do it when the price will be in the zone of $5300 - $5050 (use a limit buy order for the reason that I said before ) and wait for at least 4 to 6 hours to see if the price start a bullish trend or if the price just increase a little (from $6000 to $6300) stay alert reading the news if this happend I recommend to put a stop loss order at the same price or just a little less for the price that you buyed it because $4400 - $4100 support level could be just around the corner
Good luck for everyone and if this post help you, support it by sharing it, upvote or resteem it. If you have another point of view or do you want to share something about this, do it in the comments please.
Legal Disclaimer: I am not a financial expert or a crypto experienced analist, THIS IS JUST MY PERSONAL POINT OF VIEW is your own decision and your own responsability take any action with your investment, I will not be responsable for anything that may happend if you follow totaly or partialy the words in this post, also remember that the crypto world IS NOT A WORLD OF CERTAINTIES IS A WORLD OF PROBABILITIES.
Although my upvote is small I am happy to share it with you.
Any upvote isnt small, I am very grateful to you for that, I invite you to check the airdrops too, and if my bitcoin prediction will result accurate I will do more in the future stay tuned