I've tried to minimise the number of lines on this chart (log scale, 4hr). If you put too many lines on a chart it ends up telling you nothing but you can always convince yourself that one of those lines was right. The downward trend line was drawn from the high on 6th Jan and we have just bounced solidly off that at exactly 11,065. The blue line is my projection of the current trend and if the trend continues it will act as support for smart money to buy at and above. The yellow line is my guess for future prices. It was drawn with the assumption that the bulls are now in control and price will eventually break through the pink trend line. Simples.
코멘트:
This is my expectations of bitcoin now. I'll be a buyer again around 10,200 to 10,400. My approach is to take a guess and then trade that guess by buying low and selling high. The long term trend is up but each fall can reclaim 75% of the most recent rise. Don't over trade. The trend may be your friend but patience is your advantage. I still want to be here when this goes to the moon.
I've drawn a couple of dotted lines on the right to project where I expect the 2% line to go next. How far this correction will drop is anyones guess right now (it could easily last a week). I am still very bullish long term for bitcoin and don't like shorting bitcoin here.