Bitcoin. Convergence on convergence!
Hello, friends! We welcome you to our idea. Let's get straight to the point?
Yes, there was a fall, yes, all of this is very painful and many people have been gone with stop or liqudation, BUT! This is a market and there are such unforeseen situations, and therefore, if you use a coherent trading strategy and risk management, you will very easily recover your losses.
So, what about bitcoin? And here is a very interesting picture. While a lot of traders screaming that we will go even lower, Bitcoin began to draw convergences on different time frames. We showed convergence at 1H (black lines) and 4H (green lines). If we have a few more days in the same range, then daily convergence may also be formed, which will be very strong.
So technically, the Bitcoin should go, at a minimum, to test resistance at 5650-5900 (a couple of levels), and as a maximum - return. What comes out of it, we'll see with you.
I would like to add in the direction of growth that now many analysts say that the price will go even lower and that we will see a Bitcoin for 4,500. And now there is a real majority of them. And where does the market go? We think you yourself know ...
And another reason for the growth - the reduction of short. There is a flat position in the range of $ 200, but with this flat, short is reduced. The price does not go very much, but shorts are reduced. This is not peculiar to the crowd, most likely, these shorts are redused by big players, because they know something.
And what thoughts do you have on this? We welcome your comments and discussions!
Yes, there was a fall, yes, all of this is very painful and many people have been gone with stop or liqudation, BUT! This is a market and there are such unforeseen situations, and therefore, if you use a coherent trading strategy and risk management, you will very easily recover your losses.
So, what about bitcoin? And here is a very interesting picture. While a lot of traders screaming that we will go even lower, Bitcoin began to draw convergences on different time frames. We showed convergence at 1H (black lines) and 4H (green lines). If we have a few more days in the same range, then daily convergence may also be formed, which will be very strong.
So technically, the Bitcoin should go, at a minimum, to test resistance at 5650-5900 (a couple of levels), and as a maximum - return. What comes out of it, we'll see with you.
I would like to add in the direction of growth that now many analysts say that the price will go even lower and that we will see a Bitcoin for 4,500. And now there is a real majority of them. And where does the market go? We think you yourself know ...
And another reason for the growth - the reduction of short. There is a flat position in the range of $ 200, but with this flat, short is reduced. The price does not go very much, but shorts are reduced. This is not peculiar to the crowd, most likely, these shorts are redused by big players, because they know something.
And what thoughts do you have on this? We welcome your comments and discussions!
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