BTC Long Trades Can Start To Be Opened Around These Levels,
When opening a long trade you do not want to enter early, You want to wait for the chart to flip and start working its way back up. You will notice a spike down which is usually capitulation spike down, This is going to give us only a minute or two to actually strike at these prices. If you think it is cheap you are probably right. So trust yourselves. Do not strike early be patient. This trade can take a few months to unfold, but the correct entry and risk reward will be at $6,100 area IMO
This is not trading advice, Please trade at your own risk. Do not open large margin positions. If you like my charts like and share them with your friends.
Why the crash is happening is because
India has set a ban against crypto. They went cashless to decrease illegal transactions.
China has banned foreign exchanges.
South Korea has implemented taxation compliance with all exchanges.
Japan is investigating all exchanges after Coincheck Hack.
Tether looks like manipulation.
Volume is gone.
Whales are worried.
We need global decentralized exchanges to eliminate FUD & promote P2P network
Stock Market drop may bring Bull run back to crypto.
FUD is real.
I hope Fibonacci levels hold, this is highly speculative with government reforms. This means we still have a lot to accomplish in the name of decentralized, untaxable, borderless sound money.
xxxSALTHEART
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So decent chance of 5k roughly, bounces back upwards of 6100 significant possible long entry as a confirmation?
TheCryptAlpha
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@xxxSALTHEART, If I see the ticker writing 5,000 I'll be buying. Not sure if we will see this though.
India has set a ban against crypto. They went cashless to decrease illegal transactions.
China has banned foreign exchanges.
South Korea has implemented taxation compliance with all exchanges.
Japan is investigating all exchanges after Coincheck Hack.
Tether looks like manipulation.
Volume is gone.
Whales are worried.
We need global decentralized exchanges to eliminate FUD & promote P2P network
Stock Market drop may bring Bull run back to crypto.
FUD is real.
I hope Fibonacci levels hold, this is highly speculative with government reforms. This means we still have a lot to accomplish in the name of decentralized, untaxable, borderless sound money.