Bitcoin Correction almost Done | Get Ready for another Boom
CryptoKraze here
Possibility on Daily Time Frame
So we are almost done with the much needed correction and we only need to see how US session start in response to this correction. So I am expecting a little drop in $11,500 to $11,500 region.
Now just have a look at the chart below and note the area in RSI where I marked shark fin. That pattern is associated with reversal. First shark fin appeared when bitcoin dropped from $5000 to $3000 and followed by 150% growth. Second shark fin appeared when bitcoin dropped from $7800 to $5500 and we have seen almost 250% growth.
Now, this 3rd shark fin is in process of forming with recent drop of bitcoin from$19500 to $12000. This sharkfin will be formed below 40 level of RSI. So I am expecting a reversal from this region for another 100% growth at least.
- I have entered at $12,000 and will add another position on $11,000 and my profit target will be around $22,000 to 24,000.
- Stop loss just below $10,000 is must for trading if you don't know the averaging technique or strategy.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected pump or dump will make this analysis void.
It will be one of the best things to happen in 2018 if Bitcoin hit the $24000 mark. Can't wait to make some money, I completely missed out last year.
We are either slowly and painfully heading to $5000 or quickly rising to $25000 or more.
I am not worried because this market is so damn good and we can make profits whenever market gets right. Just like we made profit in last few days in SBD Steem XVG RDD
Diversify your crypto portfolio well, do some research, and you will profit no matter which way the wind blows.
I am doing the same mate and my 2017 has been awesome. I have made more than 10X of my initial investment.
waiting for you to help coach me abit
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by cryptokraze from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP. Be sure to leave at least 50SP undelegated on your account.