Wednesday is usually a good day to trade. Monday usually is prepare for trades start from Tue or Wed.
For Btc, its broken down the support line, or the wedge is working on pulling price down .
There are two targets sign on the chart for different types of traders, after breaking the wedge. But you need to worry where to enter short again and do your risk management.
Merry Xmas! Less is more!
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BTC could just skip any correction but straight down to next support.
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on daily chart, a possible support zone for btc.
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support for btc on daily chart.
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A double test at 16300 round. breaking down would let BTC drop deeper down to 14000 round.
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Keeping under the trend line. Dont risk to long it untill the trendline broken.
Thank you Vera. It looks like to test support at .238 first. The quick drop was due to Coinbase adding BCH to their platform. Americans are like sheep and will tell all their friends, and everyone pile onto BCH and sell bitcoin. I think Bitcoin will recover, it always does, and just prepare to buy a little here at .238, and then more if it falls to .382. It can go either way now, there will be at least 24 hours consolidating and Thursday should be a green daily bar.
FUNTRADER-Vera
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@josephtse, thx for sharing your idea here.
Yes consolidation on the top is possible , which could be a corrective wave too.
TristanWallace
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Firstly well done Vera <3 !!! I did not see it going that low! Mind you I refuse to sell anything at a loss so I just held and now I'm looking good again :D
250b ripped out of a 650b market. 100b back on within 12hrs (most small players (read me) need 24hrs to clear new fiat money into their accounts, to buy stock at such a discount). If anyone doesn't believe there's some level of market manipulation in a market that 30% is owned by a tiny percentage of people you should probably reconsider. Keeping in mind entire crypto land is worth less than apple and it starts to make sense. Lastly, go back to last year and the year before. Always one large retracement whole market retracement near xmas. Check the drops, they were so well co-ordinated, big drops in tiny timeframes across almost every major exchange on practically every single one of 1300+ currencies.
Here's a fun conspiracy theory for the side, a lot of major exchanges closed the ability for new people to come into the market this last week, also a lot of instant CC purchases were 'unavailable' while btc was under 15k (hit almost hit 10k). Yet no on had any problem taking money off the exchanges. I think someone is just trying to increase their percentage share in the market.
Just remember crypto isn't regulated, pump/dumps and insider trading is rife. But that's what u have to learn to put up with if you're an early adopter (relatively).
TA absolutely still counts as market manipulation always happens with momentum, but if you haven't been around in this space long go over the historical data and start checking out about bitcoin whales.
Merry XMAS everyone!
josephtse
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Hi Vera - Do you still see BTC hitting (B) at 18,000 and then making a wave down to $13,000, or it depends on wave (B)?
josephtse
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BTC breaking out now. Above 20dma on m15 and trendline. After successful test of trendline and 20dma it will be off the races again.
lgcasperwhite
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Coinbase will re-enable BCH trading in 40 minutes!!! Watch out friends....