as I expected we have some corrections on bitcoin and ethereum prices from the lowest levels in Nov. though I still can't see any change in the trend and this may not last too long.
but before we get in to new charts, let's discuss these important points:
- I do not claim to be a professional trader, an always right guy, a jack of all and expert in everything etc
I have traded for last two decades, stock markets, forex, commodities and now crypto added.
I have more experience in commodities and mutual funds, but over all these years I have been profitable by the average. ofcourse I have had many lost trades, but the overall performance was positive for me. - if you don't like a post, or you just don't understand why the author has such feeling about the market etc, you just need to leave a 👎 and continue reading, probably better articles and posts are there!
don't get in to arguements and try to humiliate the writer! no one is perfect. - all my posts are my understanding of possible probabilities these are not facts, financial advise or trading signals. no one pays me to write these! you should read as much as you can, then evaluate and trade on your own responsibility.
now let's see these charts:
botcoin touched the support level $3516 twice in a week. bitcoin has shown before it can test a support level 4-5 times without breaking it, so finally it did.
BUT THE PROBABILITY of getting under a support level which is tested twice, is high at the third attempt.
it's the same story with ethereum:
Ethereum touched 99$ level twice.
now let's see if such break happens, what would be next support levels?
Fibonacci
For BTC, the current price level is a Weekly Fibo Pivot level, the downside we have the $3618 which is closely to support level touched (as mentioned above) and then:
$3143
$2375
For ETH, below 100$ support level we will expect fibo S2 and S3 on a weekly chart:
$88
$60
can we measure the risk of getting below these tested support levels? (100$ for eth and 3500 for btc)
I don't know. but I appreciate if you have any information on this, please drop me a line below.
hi @honarparvar
I've heard few times people saying "remember remember, the moon in november"?
I think many investors were holding to their cryptos in strong believe to have short bull run at the end of the year.
This believe and spirit seem to be completly broken now. I cannot see where buying power would be coming from in current martket conditions and personally I expect BTC dropping below last support level (3500).
Let's face it. 2017 has been great because mass media brought tons of uneducated investors into this market. Gread and lack of knowledge were something very common. People were joinin cryptospace happily without even thinking of regulations and paying taxes etc.
This all changed and trust has been broken. It's not going to get any better until this trust will recover and lack of regulations isn't really helping.
Currently we're neither here or there. Im personally investing only in STEEM knowing that tax office will not go after me one day. Because I never plan to sell my own STEEM and make profit. Im staying away from anything else for that simple reason.
Sentiments are awful. I hope that STO (security token offerings) will bring more trust into this market in 2019
In meantime many experts expect global economy to go through serious challenges within a year or two (some people expect another huge crisis). That also isnt helping crypto at all.
Thx for your post buddy
Good read
Piotr
great comment 👍 i agree with all you said
I also think it is another bull trap lol im not saying anything until i see consistant growth for atleast 2 months
or an elliot wave #4 correction? 😏
You can find out the percentage of cryptocurrency rise or fall, price refresh rate according to your settings: daily or each hour.
Mammon allows to calculate the total sum of your earnings per each cryptocurrency or all of them together. This platform differs from the others, as here you can set a target price for cryptocurrencies you want and get the notification if any of them reaches the threshold.
You can download Mammon at the official site - https://mammon.app/
If your chosen cryptocurrency exchange does not have a mobile trading application (like Bittrex or Poloniex), Ztrader allows Windows and Mac users to connect via the API and execute transactions.
Delta is a great application for serious cryptocurrency trading. It creates a pie chart of a cryptocurrency portfolio and provides the calculation of such parameters as realized and unrealized profits, as well as reports on tax returns. You pay taxes, right? Of course yes. To use all the features of Delta you need a subscription. The service is provided by a great app for Windows and Mac.
You can download Delta at the official site https://getdelta.pro/
I hope the next bull run starts soon..
I'm not sure if it'll be soon 😒
This information is very interesting :o What would there be to say to people predicting a 2018 close with Bitcoin exceeding 100k $?
tell them let's live in reality... by logic not a punch in to your face!
There's another chance of a downfall, I believe Bitcoin it's going to hit the level of 2600$ and ETH 88$, I don't know when but something is for sure, we haven't seen the capitulation candle yet.
it seems you see a better future for eth:
88 ÷ 2600 = 0.033
yeah second to you, even with the double bottom pattern completion. still possible to go sideway downwards and maybe till new lows 3000+ then 2700 or even 1500 if it repeat the previous bear market avg % loss.
PS :
If you’re posting content on instagram, give share2steem a look. It’s a new dapp that EASILY autopost your instagram post to steemit. Get daily upvotes from s2s and other users who activate unique double curations.
thanks for your comment
i have my company's account, will check that page 👍
my company's Instagram account: i.am.evarin
yeah check ya acc, kinda of inactive for awhile, maybe it will reignite your interest to be active and promote your business on insta again lots of outreach there and with this dapp it just make it easier to access another market.
very high
indeed
impossible to say
😀 I think there should be ways to do so, just wondering if anyone has the knowledge.
Congratulations @honarparvar! You received a personal award!
Click here to view your Board of Honor
This is interesting...but can i have your opinion about this one? is it good to try this? https://www.kucoin.com/#/rank/GMB
sorry not interested in spammy ads
May be. Thanks for this article.
Choose Nexty? it has created a means to support business of all sizes and scope to overcome the barrier of trading and to make the future
possible by offering an instant transfer, zero transaction fees and price stabilization system. #blockchain #eth