It seems after all of the fake news from the last couple days, most positions of the weaker/amateur traders have been sold off and the market has corrected, which should stabilize after reaching the flip zone, where the highest probability is to reverse from here.
There are various analysis out there which suggest further lows might develop, however I do not believe this is the case and will keep holding my position long-term, unless the price breaches the 0.786 fibonacci which would be around '$2,800'. At that point I would most likely dump my position and wait until further price action provides more information.
Technicals at this stage show a possible Harmonic, however I haven't drawn it because it does not fit 'my' minimum requirements. 'TDI' shows massively oversold position with the RSI at nearly '20.0000' WITH a SHARKFIN and blood in the water, which means its only a matter of a short time when price action reverses and it will most likely be very hard and fast. Price action has arrived at the Flip Zone area and I'm expecting it to reverse, somewhere within my black box reversal area with a possible additional consolidation move or directly into an impulse wave LONG.
Here is the reason for the drop in price:
Source here: www.cryptocoinsnews....are-not-worried/amp/
and here was one of the FAKE NEWS headlines: cointelegraph.com/ne...lose-by-september-30
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
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There are various analysis out there which suggest further lows might develop, however I do not believe this is the case and will keep holding my position long-term, unless the price breaches the 0.786 fibonacci which would be around '$2,800'. At that point I would most likely dump my position and wait until further price action provides more information.
Technicals at this stage show a possible Harmonic, however I haven't drawn it because it does not fit 'my' minimum requirements. 'TDI' shows massively oversold position with the RSI at nearly '20.0000' WITH a SHARKFIN and blood in the water, which means its only a matter of a short time when price action reverses and it will most likely be very hard and fast. Price action has arrived at the Flip Zone area and I'm expecting it to reverse, somewhere within my black box reversal area with a possible additional consolidation move or directly into an impulse wave LONG.
Here is the reason for the drop in price:
Source here: www.cryptocoinsnews....are-not-worried/amp/
and here was one of the FAKE NEWS headlines: cointelegraph.com/ne...lose-by-september-30
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
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코멘트:
BTC Progressing LONG beautifully !
cointelegraph.com/ne...n-traders-businesses