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BTC – IMPORTANT UPDATE! BE CAREFUL! for BITSTAMP:BTCUSD by Mboersma0324

Hello everyone. I hope everyone is doing well. I’M SO GLAD to be able to share these ideas with you guys because I LOVE HELPING PEOPLE!

I HAVE SEEN THIS SITUATION numerous times and yes, I HAVE been a victim of it as well with leveraged positions BUT NOW it’s time to turn the tables and be prepared instead.

Nobody knows what’s going to happen exactly in the markets and the most we can to is analyze data from history and use it to get an edge and be prepared for future price action.

With that said, I’d like to tell you that I expect the volatility to pick up here a bit. Not just for BTC , most of the market will be following a similar pattern here!

This potential drop shown on the chart here has happened many times before. You can look back and see it happens a lot before bull runs or major upside movements. It’s usually followed by either a strong bounce or accumulation at the bottom before pumping! Yo can see BTC is under the 20EMA (4hr) and also the MACD signal line has crossed below “0”. There’s also a potential H&S forming on the charts (although it is ugly) which is what I used to come up with the extreme low bounce area of 54k-55.5K however I PERSONALLY think there’s only like a 20% chance it goes this low (DEPENDING ON WHAT EXCHANGE YOU’RE ON… BINANCE.US, KRAKEN, and a couple others BE EXTRA CAREFUL! JUST LOOK ON BINANCE.US EXCHANGE BTCUSD CHART AND YOU’LL UNDERSTAND WHAT I MEAN!!!) I THINK IT’S MORE PROBABLE THAT WE BOUNCE FROM THE 58K AREA but nobody knows for certain!

IF YOU’RE A TRADER WITH A LONG POSITION RIGHT NOW, I WOULD BE VERY VERY CAREFUL and make sure you have all appropriate stop-loss orders in place to avoid liquidation!

on the other hand, SHORTING THE MARKET HERE , although could be profitable, IS RISKY BECAUSE THIS COULD BE A VERY QUICK WICK type situation.

PERSONALLY, WHAT I WOULD CONSIDER DOING (this is just me) is possibly placing a couple LONG positions at or around the 55K area with kind of a tight stop loss. It may or may not fill but that’s ok we just want as little RISK AS POSSIBLE HERE! It’s also possible we don’t go that low and instead bounce around the 58K area. HONESTLY the preferred way to enter a long position in this situation would be to watch the charts very closely and frequently so you can MINIMIZE YOUR RISK! THIS IS ALL ABOUT MINIMIZING RISK, HOWEVER this type of situation CAN BE very profitable BUT IT’S VERY HARD, EVEN FOR EXPERIENCED TRADERS LIKE MYSELF to catch the bottom of a wick like this (ALTHOUGH I IMAGINE WE ALL DREAM OF DOING IT!)

IF you’re nor using leverage, you don’t have to worry about liquidation but just be aware of what is likely coming IMO. THEY WANT YOU TO PANIC SELL YOUR BAGS TO THEM! They also want to trigger a “chain-reaction” of stop-loss orders which can create a VERY BIG WICK! ONCE AGAIN, BE CAREFUL!

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WITH ALL OF THAT SAID, ON A MACRO SCALE, I AM STILL VERY BULLISH ON BTC AND ALTCOINS. I DO BELIEVE THERE IS MUCH MORE UPSIDE TO COME SOON ENOUGH so if you’re HODLING I wouldn’t worry. The market sentiment is very bullish right now. ETHERIUM did a similar situation earlier this year where it broke its ATH before pulling back and then MASSIVE PUMP happened afterward. Just have patience and like I said If you’re holding BTC or ALTS without leverage I DON’T THINK this is the time to sell and I THINK SELLING WOULD BE A MISTAKE MORE THAN LIKELY (although everyones situation is different depending on where they got in)

*** I AM NOT A FINANCIAL ADVISOR! THIS IS JUSAT AN IDEA BASED OFF OF MY EXPERIENCE ANALYZING CHARTS AND TRADING CRYPTOCURRENCIES! ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING IN, OR TRADING ANYTHING!***

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