As advised 2nd target set for $8000 (as posted in advance - see my related post "can Bitcoin Fall To $8000?") with a trailing stop to protect profits. T2 set just in case we have a further sell-off
I think the PermaBulls are in shock after the first selloff after hitting ATH around $17000 (Bitcoin lost approx 43% of its price then). Now in complete disarray and confusion on another huge sell which they insisted could never happen. Huge wakeup call for their naive inexperience in trading volatile markets.
Warning: Most people can make money in Bull Markets with little/no experience. If you trade learn to trade both sides don't innocently assume markets only go up.
Hi @SEAN_VENGAN ; would love to get your take on the interaction of daily (quite a bullish MACD upcoming) and weekly chart on Bitcoin (death cross):
PS: keep the gann squares coming :-)
Willybutters
⋅
thx
Cradlethebomb
⋅
Well said.
mick_c
⋅
thanks again Sean for your time and effort to help us.
shemue-l
⋅
Thanks Sean for your posts!
midzimu
⋅
8k wont happen... 9.5k is on average grpwth line, it goes there all the time.. just a correction to it @ 9-10k
chefluc
⋅
@midzimu, In my op it is just slowing down drop to get further down it is just little push to drop below 8000 the market market ate very talented peoples ..it is a set up as much as you know it act accordingly ... sell up buy down again and again of course you need to stay tuned at 100% because waves are changing in time frame.
anmarjb
⋅
@midzimu,
"Nooo, we won't ever see Ethereum below 1K again. Ever!!!"
P-U-M-P
⋅
@midzimu, @pela78 - Don't be so sure in this market as this is not forex or stocks. The Whales will trick you as they do 90%+ of the people.
Regardless, this is Sean's 2nd target. It means he may have taken some profit off the table already and/or he set a trailing stop-loss to protect his remaining profits if the trade goes up more than he would be comfortable with.
So, right or wrong does not matter; it is only a possibility and probability according to HIS PLAN he devised from the data he interpreted from the charts.
Anything could happen. For example, the U.S. gov't and feds could raid the offices of Bittrex, Poloniex and Coinbase for whatever reason (e.g. taxes) and that would certainly cause Bitcoin price to plummet.
PS: keep the gann squares coming :-)