Once he said that if bitcoin doesn't break 8500$ with volume then we're gonna
carry on coming down and now he's calling Bitcion down to $1300 turn.
Are you panicking at these points no i am not panicking but at the moment i still see lower prices in the intermediate term right now based on my charts. I am looking for a one to four day rebound
that started yesterday and i kind of called that as well because i'm a big fan of
the sequential system known as the TD sequential . So i'm a big follower of that
and on that system the candle that we had a couple of days ago that made the low
signified that the downtrend is temporarily exhausted that usually tends to lead
to a one to four day reversal and then usually a continuation of the downtrend.
Now these one to four day reversals could lead to significant reversals back to the
upside and that is something we need to reevaluate a couple of days from now but at the moment
i am looking for a rebound back to that $7800 area where we dropped from very hard and
then probably continuation of the downside but in a couple of days.
I will reevaluate so tone is this what they call the dead cat bounce alright I believe that it could be you can't really
know for sure until after it reverses back to the downside and starts approaching the lows like i
always tell people I you don't know but mentum likes to stay with momentum so if
right now we start to rebound and we go all the way back to twelve thirteen thousand dollars.
I will be looking for bitcoin to go to 25k 30k 40k like crossing that twelve thousand dollar
number would be huge for the next year or two but on the flip side if we reverse from
the $7800 area like i expect and go back to the vicinity of 6500 i am now expecting.
Only lower prices probably down to five thousand or lower so i am more
of a momentum trader trying to predict the timing of the dip like the shirt that i'm wearing for
the long term.
so i don't know if you guys heard him but he made a prediction that bitcoin could go down
at 1300 but hunt the flipside if we have a price recovery and bitcoin breaks 1200 we're gonna see
$30,000 Bitcoin so i don't know if that really helps you guys so the way i would
do this is like i said i preached dollar cost averaging and the way i'm gonna play
this market is i'm buying as each level we go below i'm not buying a large amount
because i do want to have fiat reserves or cash reserves to buy if Bitcoin does go under
$1300 or $2000 whatever i don't want to have it where i sunk in a large sum of money at 7000
8,000 9,000 and what's fortunate is i've already invested a good amount of money into
cryptocurrency so i'm already happy and even if it can go to 15,000 i'll get you know
a reasonable return on my investment way better than the stock market so it's rally
hard to time this stuff and it's really interesting that he made this
prediction.
buena post