Was told bitcoin can hit $50,000 by december. She said wen all this world rich men invest bitcoin thats when it goes up

hefelove:
Was told bitcoin can hit $50,000 by december. She said wen all this world rich men invest bitcoin thats when it goes up

You can be told anything. It migh be true o not. Nobody knows bro

. As usual, once the king #Bitcoin goes green, alts follow.

Charting Altcoins is pretty much a waste of time.
I only pop up Altcoin charts to see which coins are the most oversold when i decide to long (altcoins have a better return than bitcoin as they can easily triple their value even when bitcoin has only done 80%+)

As usual i like to keep my charts clean.
The trade idea is trying to profit from a retracement upwards.

So we have been heading down for about 3 weeks, daily RSI barely recovered from oversold conditions today and MACD's histogram slope is upwards and still below the centre line. This could be an early signal that the downtrend is coming to an end IN THE SHORT TERM.

All im saying is that its okay to go Long on bitcoin and alts now, but personally i will wait for a little bit of confirmation if BTCUSD can break $7750 (the local high).

Trade safe and use your stops

. With RSI at 40, and the MACD histogram still going further upwards towards the center line, this is the last chance to go long with smaller risk.

I reiterate : WITH SMALLER RISK.

The markets are crazy and anything can happen so always trade with your stop loss.. Which in this case can be placed below yesterday's low at $6320.

My stop entry on bitcoin was hit yesterday as btc hit $6600 just like i advised.

. Strong resistance at $6800 level.
Tested that area for the past 3 days and have been having a hard time staying above that level.

However, since the candlesticks have been generally making higher lows, it forms and ascending triangle and i expect that $6800 resistance to eventually be punctured.

All that being said, its important to remember that come 2022, u might not even care if you bought at $6800 or $8090, cos bitcoin price could be in 6 figures.

However if you trade actively, use leverage and not HODLing, you might want to look towards just the short term.. So trade with your stops.

Looks like we are in for a huge drop today... Stop loss order hit at $6485.
Trade with caution

. Anyone who knows me knows i love the RSI indicator.

RSI stands for Relative Strength Index. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

This means that if you see the RSI above level 70, bulls have flexed their muscles too much and prices are bound to pull back (go down) .
When you see RSI below 30, it means the bears have had a field day and prices are bound to correct upwards.

Ofcourse its deeper than that. But thats the basic idea.

Which indicator should i discuss next?
@sonkascrypto

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Introducing Redfox Analytics

One of the beauties of trading is that you can make your analysis on your bed, and on your portable device. ���.

Anyways TRADE RECOMMENDATION :

I expect price to temporarily retrace, before going up. Current bitcoin price as i type $7491.

Trade type: short

Short at $7450- 7500

Stop loss: $7601 (above the local high)

Risk : <2%

Break even : 7375

Profit levels : from $7200- $6900

chinnyonwu:
One of the beauties of trading is that you can make your analysis on your bed, and on your portable device. ���.

Anyways TRADE RECOMMENDATION :

I expect price to temporarily retrace, before going up. Current bitcoin price as i type $7491.

Trade type: short

Short at $7450- 7500

Stop loss: $7601 (above the local high)

Risk : <2%

Break even : 7375

Profit levels : from $7200- $6900

Bros, show me the way
I need calls
Pls, na beg I dey beg
Do you have a channel, blog or platform through which you can be followed for tips?

MOBBDEEP:


Bros, show me the way
I need calls
Pls, na beg I dey beg
Do you have a channel, blog or platform through which you can be followed for tips?

The link on my signature bro. IG @sonkascrypto

My thoughts tonight..

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