Quotes by TradingView
Trading carries a high level of risk, and may not be suitable for all investors. You should never invest money that you cannot afford to lose.

Thursday, 8 February 2018

Waiting for a recovery in BTC

Since BTC was at 20000$, because of the tail risk created by the previous parabolic growth, a huge swing to drop it 50% (to 10k) was expected, as last 3 dips in BTC were around 50% each time. But it happened with a large delay, 1 month later. That made Bitcoin lose its strength and enter in a wide range where trend became uncertain. Bulls rejected the support level at 10000$ and BTCUSD was going up for a while. Finally 9500$ support level broke-down and BTC found a strong support only at 6000$.

Good news it that this correction discharged tensions created by the exponential growth tendencies, but first I expect to hit a resistance somewhere below 12000$.


No comments:

Post a Comment

Trading carries a high level of risk, and may not be suitable for all investors. You should never invest money that you cannot afford to lose.

Post─âri populare

Trading carries a high level of risk, and may not be suitable for all investors. You should never invest money that you cannot afford to lose.