Morning traders! Its all in the charts.
- For risk takers, we have touched the long term trendline so you can consider a small long position to target 190 levels again
- Below current levels would confirm a bear reversal and a straight drop to 130-150 which would be the final frontier to accumulate
- If we cross below 98, i would say everything has ended (extreme scenario)
Some points to keep note in such a market:
- These rapid falls indicate panic, frenzy and irrationality, due to the coronavirus.
- People are selling everything, including crypto, and fleeing to cash/gold.
- We need new money beyond retail investors to flush the market and fight the bears
- Sub 180 levels are generally good for buying and HODL
- Expecting a risk-on sentiment across financial markets globally by end of the month meaning we could see some consolidation before the next big movement by end of month
- Expect a lot of fakeouts/sucker rallies/dead cast bounces as this is a field day for institutional/whales who can generate more volatility on lower volumes
- Low leverage positions are advised and keep dry powder with you to buy the dips - DON'T OVERSIZE POSITIONS
- Don't keep watching the charts every minute if you cannot stomach current volatility, else you will trade on emotions which will certainly negatively affect your choices
- Stay safe and trade your plan; if you aren't sure don't take a position
Press the Like button if you think my ideas were helpful. I will continue to generate more content on this platform.
The above is a scenario which could potentially play out. It is not financial advise
Follow me on twitter and telegram with the same name @TameBTC for free updates/analysis/signals on the crypto and other markets.
- For risk takers, we have touched the long term trendline so you can consider a small long position to target 190 levels again
- Below current levels would confirm a bear reversal and a straight drop to 130-150 which would be the final frontier to accumulate
- If we cross below 98, i would say everything has ended (extreme scenario)
Some points to keep note in such a market:
- These rapid falls indicate panic, frenzy and irrationality, due to the coronavirus.
- People are selling everything, including crypto, and fleeing to cash/gold.
- We need new money beyond retail investors to flush the market and fight the bears
- Sub 180 levels are generally good for buying and HODL
- Expecting a risk-on sentiment across financial markets globally by end of the month meaning we could see some consolidation before the next big movement by end of month
- Expect a lot of fakeouts/sucker rallies/dead cast bounces as this is a field day for institutional/whales who can generate more volatility on lower volumes
- Low leverage positions are advised and keep dry powder with you to buy the dips - DON'T OVERSIZE POSITIONS
- Don't keep watching the charts every minute if you cannot stomach current volatility, else you will trade on emotions which will certainly negatively affect your choices
- Stay safe and trade your plan; if you aren't sure don't take a position
Press the Like button if you think my ideas were helpful. I will continue to generate more content on this platform.
The above is a scenario which could potentially play out. It is not financial advise
Follow me on twitter and telegram with the same name @TameBTC for free updates/analysis/signals on the crypto and other markets.