AtlasRise Tip: Time for a long term invest @ Bitcoin

The last few months the famous crytpocurrency Bitcoin is showing his powers by creating a possitive chart. Over 80% rise since March and still growing. Fans over the world and hige fubds are getting more friendly about cryptoworld and they see the possibility of investing in it quit interesting.

After some privet messages i had with friends i am pretty sure that BTC is going to reach his old fame once again.

https://www.etoro.com/en/posts/0__entry__b32c6969-1867-45df-891d-99120149fece



An interesting view of
VaidoVeek

The Green Box | $9,500 - ~$10,000 
The area where you should take out some long position stays into the green box. There are some minor reversal criteria and one significant criterion. 
Let's start to count those criteria which stays into the green box and which should work as resistances: 
1. If the price has taken some direction into a specific direction, currently upwards, then very often it moves in the parallel channels and as you see, currently the Bitcoinprice is on the upwards channel. Channel trendlines are pretty wide but no problem, the channel upper trendline should act as a resistance area (light-blue "line") 
2. There are two Fibonacci Extension 127% levels at $9,754 & $10,033. They should work as resistance levels and they are usually great places where to take out some profits.
3. The movements consist of waves and pretty often those waves are on equal size. Into the green box, I have pointed out two Equal waves C points. Blue starts from 25. April low and the C point is at $10,000. Orange starts from 17. May low. and the C point is at $9,913. They should work also as reversal criteria. 
4. The psychological number $10,000 should act as a strong resistance level . 
5. The semi-round number $9,500 is also in this area but this should play a more important role in the selling opportunity if we get some nice bearish candlestick patterns in this box (more about those below of this post). 
6. There is previously worked resistance level , really strongly worked resistance level on 5. May 2018 
Now, the most important criterion... 
7. Fibonacci retracement 38% ($9,532), PULLED FROM ATH at $19,891 ( all-time high) to the 2018 low at $3,128. 
This is the first important Fibonacci retracement level after the ATH and 2018 low. It matching almost perfectly with the other short-term reversal criteria. 



So as i see it Bitcoin is going up for a long and stable time.




Comments