First off, I want to thank you for taking the time for viewing my chart. This is my VERY FIRST chart I have published so please keep that in mind. I am not one of those people that will say Bitcoin is going to crash or is going to the moon in the next day, week, or month. I made this chart so people could take a step back and look at the bigger picture. I know many people have lost thousands of dollars in the crypto market due to lack of knowledge or watching ridiculous Youtube videos of people telling them a false narrative. As you can see in my weekly chart, we are looking back in time to 2014. There are many things in common in our current situation. Forget the news, hype, Youtubers, etc. Yes, a news article can make a coin pump temporarily but you have to get in at the right time and know when to get out. I have traded on 15 minute, hourly, daily, and weekly charts to make profit. I also have experience with margin trading on Bitmex which I do not recommend for anyone that is new to crypto as it is like playing Russian roulette if you do not understand the ins and outs of the margin trading platform. Anyway, I made this chart mainly for the people that are unsure or lost hope in crypto or maybe are not sure what the hell is going to happen with Bitcoin. Let me make this clear, Bitcoin is not dead and will not go to zero. Currently, Bitcoin is a lot lower than most people thought it would be at this time. Has Bitcoin hit the very bottom? NO. We will go lower then 3200. We must test the 2900 area first. Down to the exact dollar amount, 2878 is currently our true resistance and we must hold above this number and have at minimum several daily candles close ABOVE this. However, if the volume does not skyrocket and match Feb 2018 volume at this price, then we know this is not the true bottom. Expect the price to bounce back up TEMPORARILY to 5k or 6k. MANY will say "We are in a BULL RUN!!!" False, the price will drop down again to test 2900 and it may not hold. If it breaks this resistance, then our next bottom to test is around 1100. Yes, this seems hard to believe but it is a possibility. Once we have verified the true bottom based on the chart, then we will know we are out of this bloody bear market and finally into the bull run that we have been anxiously been waiting for. For the newbies, right now is a great time to acquire free coins. Sell them when Bitcoin jumps to 5k (false bull run) and then wait to buy more back when it drops. If you are not knowledgeable on trading or do not want to spend time staring at your computer screen for hours, I would buy back at the 2900 retest to be safe. Yes it could go lower, but its up to you if you want to wait and see if it does. I could go into more detail but I am sure I would have more people nit picking every single detail. I hope this can help some of you see the bigger picture and know when the best time is to accumulate Bitcoin and alt coins at the lowest prices before we eventually head into the bull market. Please feel free to post any ideas or thoughts you may have. Many may disagree which is understandable but please try and refrain from any negative or degrading comments as this does not help our cause. Depending on what kind of response I get from this chart, I may or may not post more in the future.
***I forgot to mention for the people that are new to trading crypto. I recommend sticking to the 1 and 3 day chart if you are wanting to do multiple trades per month. Yes you can do tons of trades on the hourly and minute charts, but it can be a lot more time consuming and stressful. I think it is better to do a couple trades per month with massive gains than dozens of trades with small gains IMO. Always use stop losses when trading. Once you have mastered the charts, you can put in buy and sell orders and just walk away and not get caught up in the emotion of watching live trades. Emotions will cause you to lose money and remember 90% of people that trade crypto LOSE money.
I hope this chart helps many of you and best of luck to everyone in trading!
******TO AVOID ANY CONFUSION, THE BIG RED LOOKING CANDLESTICK IS NOT A PRICE CANDLESTICK, THIS IS THE VOLUME PREDICTION I PUT IN PLACE***************
***I forgot to mention for the people that are new to trading crypto. I recommend sticking to the 1 and 3 day chart if you are wanting to do multiple trades per month. Yes you can do tons of trades on the hourly and minute charts, but it can be a lot more time consuming and stressful. I think it is better to do a couple trades per month with massive gains than dozens of trades with small gains IMO. Always use stop losses when trading. Once you have mastered the charts, you can put in buy and sell orders and just walk away and not get caught up in the emotion of watching live trades. Emotions will cause you to lose money and remember 90% of people that trade crypto LOSE money.
I hope this chart helps many of you and best of luck to everyone in trading!
******TO AVOID ANY CONFUSION, THE BIG RED LOOKING CANDLESTICK IS NOT A PRICE CANDLESTICK, THIS IS THE VOLUME PREDICTION I PUT IN PLACE***************
