This pictures gives insight about overall Bitcoin movement which is as you all can see ONLY since December 17th 2017 and it will remain so for a while.
Bitcoin had almost two years for bullrun, now time of WIDE CORRECTION has come.
Don’t listen to those who tell you different because, at the end, it’s better to lose profit rather then money.
Don’t let yourself get bulltraped because of some A rated professional amateur, because, if you already dont understand stock market, you can notice if someone has false predictions or not.
If you visit someones profile in order to make sure that his reputation matches with success rate (let’s say 90% success rate is just fine), because generally, in this world there is no room for error.
Someone invest his money rallying on high reputated non moral person called market maker.
On the other hand we have newbie trader who is unable to distinguish if someone is either good or not that good.
He gives you 5 predictions, 2 of them come to be, 3 don’t, so you will eventually end in minus.
Serious trader won’t fail.
Serious trader should be moral person as well (not affiliate working for salary or percentage) in order to persuade people to buy something when it’s not proper time for it.
Anyway, when talking about Bitcoin , is decreasing as you can see on a chart (it has continuous dropdown ever since).
Bitcoin is now rebouncing over 8000 level of support, but that level of support won’t be able to compensate any more than 2 rebounces (most probably just one).
Bitcoin dropped 4 times bellow 8000 value since rebounced from 6000 level, but considering that level should compensate prices pushing them above 8200, its sign of serious weeknes.
Bitcoin obviously doesn’t have any more strenght for any serious movement (as it could not get that close to 9000 level and already started retracing (8680 price as i m writing).
I will update analysis additionaly,
i just wanted to share with people idea of GENERAL MOVEMENT, so we can decide about Bitcoin is it or .
We should wait for dips only.
That is only 100% chance for making 40%-50% proft.