Don't get caught in bulltraps! This correction for the crypto market in general and BTC in particular is not over yet. Don't let some greens on Coinmarketcap fool you into thinking it is over. The trend is still bearish and it will continue to be bearish at least for the next week i.e. till the end of the year. So, don't rush any trades. It's better to miss out on an opportunity to make 10% profits rather than being in 60% loss for a long time. Let it hit the bottom, we'll pick it up from there,
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Signs of a trend shift starting to appear. Here is my latest analysis:
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Correction seems to be over for now.
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Every post/idea has a life. It is valid for a certain time from the time it is posted. Try to follow updates. Don't just read headlines. Nothing stays the same forever. Thanks
can you @fakhan can you please help me understand if you drew 2 channels (red and green), how do you know which way will go? ( i am new to TA)
Jefe
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@rockyrashidi, Well, we don't really so we watch which channel it respects with time. Talking about the one I posted, if you click the play button you will see that the price is out of the bearish channel (red lines) so it is safe to say that recovery has started and the correction is over.
X3P4
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alt recommendation to stash my btc for now? ty any advice
Jefe
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@X3P4, I wouldn't recommend any because the whole market takes a hit when BTC falls. So, yeah you should trade your BTC for Tehter USDT. If you badly want to buy an altcoin, then Lisk would be a safe one. Goes without saying, this is not investment advice. ;)
Zakir-Ahmed
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yep i know..but bear trap can turn to real...or for new year event there can be pullouts by investors...9k is possible not 8k
Jefe
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@ghose12, Anything is possible. This is Bitcoin we're talking about.