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FINAL Bitcoin bear wave? (Short/Long opportunity)

업데이트됨

I plan on keeping this as simple as possible along with a short market analysis.

Utilizing the 4 hour candles, we have multiple important indicators pointing downwards in the short term. Such as the RSI, MACD, OBV and DMI. And there is still enough room for it to fall considerably. The question is how much? Currently this market is still fairly indecisive to say the least. Additionally, we have yet to see any truly important resistances broken indicating this downtrend is over. Yet there are many indicators that also suggest the downtrend momentum is slowing down and creating a market pulse, which should be enough to attempt a full bullish reversal in the near future (1-3 months).

For those trading within altcoins of any type, keep this potential bear wave in the back of your head before buying/selling. Bitcoin still dictates the direction of the market.

Target Buy Zone: 5500 - 4000

This should be one of the final bear waves before we get a significant reversal signal. You can either choose to short with this information, if you agree, or wait for a great long term entry point for Bitcoin.

- Have several years of stock market analysis and trading experience, two years within cryptocurrency. Again, keeping it as simple as possible.
- This is my first public analysis on this site, I would love feedback or support to indicate if I should do this again.

노트

This trade is still active. Bitcoin has yet to push above 8700, but it should at any moment. If and when this occurs it does not mean our original targets of 5500 - 4000 will not longer be reached. Our important reveral signal is at 12K, though breaking above 10K would be a good indicator to start paying more attention.

Below is an updated version of the chart once Bitcoin breaks above the 8700 resistance. Regardless, we are still definiely within a downtrend. More importantly our ideal 'Buy Zone' has grown now.

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