Bitcoin is on breakdown for now for daily timeframe (bearish breakdown), and it is the correction within the bullish for weekly timeframe.And it is correction (local downtrend within the general uptrend) too in long-term situation (monthly timeframe).
Do you think it will open room for the $ 1200.00 or $1800.00 if it ever break below the $ 5 600.00 or the $ 5 400.00
5,870 and 5,000 are the key levels.yes, the situation may be changed if the price breaks 5,870 and especially 5,000: the price will have new support levels to be below 5,000.but anyway - I do not think it will soon be opened room for 1,200.00 or 1,800.
I think, the first we should monitor D1 timeframe: the bearish breakdown should be stopped and the ranging movement should be started, and we will see the levels after that to watch.So, it is too early to say about 1,800 now: first of all - the price should break 5,000 level to below on close daily bar, and on close weekly bar after that.
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2018.03.31 07:50
Crypto News - Bitcoin may finally be reaching the bottom of its bear run (based on the article)
The chart was made on weekly timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:
You are very correct.
Well it bounced off @ 7K for the 4th time.
You would have to remember that in order to pump and dump, price has to go back up.
Otherwise without a pump there can't be any dump so this is a necessary part of the mechanism.
Sergey Golubev, 2018.04.07 11:09
Crypto News - Bitcoin daily bearish breakdown to be continuing; 6,598 is the key (based on the article)
Sergey Golubev, 2018.04.13 10:51
Crypto News - Bitcoin: rally within the daily bearish (based on the article)
Mr Sergey, regarding post #199
Where do you read or how do you determine the net-long and net-short percentages of traders's positions?