Possible market reaction after 1M forecast
I’m no hedge fund nor pro trader millionaire trader with financial advices that actually works so don’t use this analysis for your financial transactions, until you do your own full DD. but rather let serve as a guide for any beginners that are lost or even pros that might need confirmation. If I am wrong please get on my ass about it on the comment section, I’ll appreciate it :)
Anyway, just wanted to throw in a bone since I’m kind of confident of the next possible outcomes for the coming months on the Bitcoin market. On analysis, BTC rebounded from low 40Ks (a resistance level) right when we were on overbought levels according to RSI, giving us a healthy rebound giving bears a chance or even a reentry for bulls. Furthermore, the chart points out that bears MIGHT pull back from the green line at
36K which bulls hold a resistance level on which is the VWAP indicator in this case. A decent entry level where I would place a limit buy for my self, however, I still wouldn’t go all in just in case it decides to go lower. If bulls can win over the battle at the 36K resistance level we can break out to the 45K wall anytime. Delta variant and pandemic happening all over again tells us that its possible to go parabolic like the rally we experienced from last year that lasted until about June from this year. However, If & ONLY IF the same momentum can take us over the 45K threshold, we just might land on the 50K field where I actually think is going to be the highest we going to see while we stay on that area with plus & minus 5K consolidation lasting a month or probably two. In any possible outcome, low risk high reward calculations has overtly taught me to use between 40%-70% of trading funds to have some or a lot of cushion for any worst case scenario where we would use the sideways trading strategy to keep our trading account healthy. In conclusion, if it don’t hold 36K And ALSO (keyword “ALSO”) pass over 45K line, we will be going to see bears taking to the low twenty thousands and possibly as low as 16K-18K which is where bulls will be comfortable to buy again after getting beat up. Trust me, it’s easier and faster to see an ugly red 50%+ Loss than gaining a possible but not guaranteed green 30%-40% profit in a couple months. Especially if you like to leverage a few couple digits.
Welp, good luck trading to everyone ! :) remember to keep your mind busy doing other stuffs instead of just looking at the charts for hours straight as it can mess your strategy up with a simple move on the market where you make can make a decision you can regret.
Anyway, just wanted to throw in a bone since I’m kind of confident of the next possible outcomes for the coming months on the Bitcoin market. On analysis, BTC rebounded from low 40Ks (a resistance level) right when we were on overbought levels according to RSI, giving us a healthy rebound giving bears a chance or even a reentry for bulls. Furthermore, the chart points out that bears MIGHT pull back from the green line at
36K which bulls hold a resistance level on which is the VWAP indicator in this case. A decent entry level where I would place a limit buy for my self, however, I still wouldn’t go all in just in case it decides to go lower. If bulls can win over the battle at the 36K resistance level we can break out to the 45K wall anytime. Delta variant and pandemic happening all over again tells us that its possible to go parabolic like the rally we experienced from last year that lasted until about June from this year. However, If & ONLY IF the same momentum can take us over the 45K threshold, we just might land on the 50K field where I actually think is going to be the highest we going to see while we stay on that area with plus & minus 5K consolidation lasting a month or probably two. In any possible outcome, low risk high reward calculations has overtly taught me to use between 40%-70% of trading funds to have some or a lot of cushion for any worst case scenario where we would use the sideways trading strategy to keep our trading account healthy. In conclusion, if it don’t hold 36K And ALSO (keyword “ALSO”) pass over 45K line, we will be going to see bears taking to the low twenty thousands and possibly as low as 16K-18K which is where bulls will be comfortable to buy again after getting beat up. Trust me, it’s easier and faster to see an ugly red 50%+ Loss than gaining a possible but not guaranteed green 30%-40% profit in a couple months. Especially if you like to leverage a few couple digits. Welp, good luck trading to everyone ! :) remember to keep your mind busy doing other stuffs instead of just looking at the charts for hours straight as it can mess your strategy up with a simple move on the market where you make can make a decision you can regret.
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