BTC isn't done, I see 2 possibilities here based off of levels it either rebound off the $6500 level and switch momentum to the MOON or it breaks past that level and gets top the $5800 area and then bounce off that level and beginning MOON'ing.
Re-entry target:
Target 1: $6500 area Target 2: $5800 area
If you enter at Target 1 and the price breaks past $7300 then consider adding the rest of your money as it means it just broke the downtrend and should be starting its ascension to ATH.
Note if you want to get in this market and aren't too worried about the short term and are afraid you might miss the bottom of this downtrend then the $7300 is a good area for you to enter. BUT be sure that you can handle the possibilities of the next couples of days hurting your portfolio USD value by quite a bit. If you think you can handle it then buy at $7300 and within a couple of weeks you should be in good profit.
Follow me on telegram if you want to be updated on this trade. We will trade the SHIT OUT off this reversal pattern and when BTC begins to rise we will switch to Altcoin and ride these suckers to greatness.
Let me know what you guys think in the comment!
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Both target reached. Selling target $8900. Which will gets us a 36% increase from Entry 1 and 52% from Target 2.
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Sell target changed to 8100 area. Then we wait to see what the market does and we adjust. Cheers!
I'm impressed by what you shared on telegram (how you managed to make even more profit from your trade). If you keep up the good work like this. I will consider signing up to your private group.
UnknownUnicorn2029062
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@cankarako, Thank you for the kind word :) I heavily appreciate it!
cankarako
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@DENZOSS, Of course! May I ask, why do you have a sell target at arround 8k if you don't see btc going lower than 5.8k? I like to trade/flip altcoins for more btc. But bitcoin is more of a long tearm invesment for me. Catching bottoms and selling tops is much more difficult and stressing for me since I have much bigger positions in btc.
cankarako
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Wow, it touch your 5.800 target! I bought some at 6k-6.5k lets see what happens from here. My biggest buy order is at 5k. Hope this correction will be over soon.
GlisteningKabana
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Thank you sir, appreciate your quality insights! Have a great day.
iamomeed
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people said this is a dead cat bounce what does that mean
UnknownUnicorn2029062
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@iamomeed, it means that the market structure still indicates that BTC is not done dropping. They aren't wrong, we will have a STRONG indication that BTC is reversing towards the top if it breaks the 11 500$ area.