Bitcoin Analysis

bigbax699

Recruit
Messages
35
Looks like we are finally seeing a correction in Bitcoin . It had to come sooner rather than later, the parabolic movement was huge. Where is it going? We're approaching the first demand area for a possible buy back in, price is pushing hard though so what would be better for us is for price to push lower so we can buy at a cheaper price. Mark out your zones and keep watching for now. Wait for support to form and demand to come back in for the buys. GLIYF
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bigbax699

Recruit
Messages
35
Bitcoin takes a little dive and all the FOMO people are going stir crazy. But for the traders amongst us its something were looking for so we can buy back in. Price came down to that daily demand area and we saw an instant rejection. Maybe if you was watching you could of entered and grabbed some pips. It still looks like its falling currently and wasn't my ideal entry zone so I didn't take this one. I'm looking at the zone below at least where the daily demand is that broke the recent supply and trend line . Wait for the best setups and you'll be rewarded. GLIYF
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bigbax699

Recruit
Messages
35
Bitcoin is moving pretty slow of late considering the recent bullish movement. We could just be consolidating and collecting demand on the weekly charts. You could of entered on that reaction to that demand area we just invalidated. But for me that's not the trade to take just yet. If you were in and out then that's all good for an intraday trade. I'm looking at the bold setup in the chart as my ideal area to buy in around 40K. I do think we will see another 3rd impulsive move upwards, but would like to get in a buy in this area. Hopefully price comes down to or close to this zone to buy in. Keep watching for now and be ready. GLIYF
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