rk2f2zc1om by workin2005

Viewing a response to: @teutonium/re-workin2005-bitcointechnicalanalysisquickupdate-1rv507qf0f-20190311t214527189z

bitcoin · @workin2005 · Mar 11 '19

rk2f2zc1om

Thanks my friend. You’re right, $4,100 is without question a major resistance. Zooming out on the daily chart makes that painfully obvious. I discussed my plan to short (if certain criteria is met) in the video. 
I can see a path to below $3,000. I know Vays and a few other analysts are calling for $1,800. Personally, I think there’s a good chance it’ll find support between $3,000 and $2,500 as long as volume remains strong. If that breaks down, I feel it’ll likely free fall to $1,200. There's just no support between $2,500 and $1,200. We’ll see.

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@teutonium · Mar 11 '19

I'm basing this on the trendline that I did that looks like the previous bear market trendline, where we touched it twice before accumulation, here let me show

![image.png](https://ipfs.busy.org/ipfs/QmXbG1DcnSxQxhRMTxC64QvFDmY3g19WvUvh5qc3LLAauf)


https://www.tradingview.com/x/5aIcJz6d/

If we headed straight down right now we would touch 2k on the trendline. Ofc the capitulation is slow at first and then picks up, we might very well go to 1.2k , but the trendline that I'm considering is that one, I know some traders don't like trendlines but I love them for investing, for trading ofc fib, elliot waves, RSI and some PA

And Vays actually says we are heading down to sub 1.5k xD and other analysists say the same, I'm keeping my sentiment in check because I too think we are heading down to sub 1.8k.

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@workin2005 · Mar 12 '19 (edited)

Trend lines can be great. Guess it depends on the trader and how you use it. Personally, I think the overall trend, coupled with major resistance at $4,120, suggests a break down. Add to that sever hidden bearish divergence on the weekly chart's MACD, as well as a large bear flag...yea, things could get ugly quick. 
My first buy zone is $3,000-$2,500 with a tight stop. That breaks, I'll go in heavy between $1,200 and $1,000. Good times. ;-)

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