Bottom Identification made easy for Noobs and small fish

16 gen 2018

Unless I see a tall green sprout on the 4H/1D charts I am not listening to any experts about bottom formation.

18 gen 2018

Nota

tradingview.com/chart/TdU0Puqb/

18 gen 2018

Nota

First green volume bar on the daily chart but not as strong as previous reversals. Even smart money is cautious this time at the 10K level. On the 4 Hour/3 Hour charts you can see that instead of pouring in all at once , it is coming in gradually. Chances of a dip to 8K still remain . Next 1-2 days will tell

1 feb 2018

Nota

Bitcoin sustaining below 10K is not good news . Next target would be 8K . Watch for the green volume bars [as shown] in 3H/4H/1D charts. If they don't come anywhere then deeper correction could go upto 5.5-6K or even 4K but these would be unlikely , fingers crossed. Small fish should not put limit buys at any level and wait it out till recovery is confirmed.

5 feb 2018

Nota

5500-6000 is in play now . The Last green volume bar on 4H chart on 2nd Feb at 8K level was 41K high, not as strong as the ones on 15th Sept and 12 Nov (55-60K high). Not enough people believed in supporting the 8K level. In this market most technical levels are useless and there are no fundamentals. Only that level will hold which enough people believe in holding. Most of the market was already looking for 6K when the price hit 8K. Watch for the green sprouts around 5.5K-6K range. Greens are good for your health as well as your portfolio health.

If there are ALT coins that you really believe in for the long term then you can look to start accumulating them in SMALL amounts when BTC hits 5.5K-6K. Even if BTC goes down to 3-4K and takes the market down with it you can average the ALT coins over time in small amounts. Always remember nobody gains in life without taking any risks. If you can manage the risks and can wait for the long term then start adding, don't buy on margins , and don't take loans to buy.

7 feb 2018

Nota

Some strong buying visible in 1D /3H charts. Instead of pouring in all at once it came gradually. So what's next ? Do we start looking for ATH or a prolonged recovery over next several weeks/months , or it is another bull trap ?
I can't shake off the feeling that 6K was not tested properly. It was way too easy . There could be a another dip to truly test it , may not go all the way to 6K and bounce off earlier with equally strong volumes [a very positive sign ] , or may go slightly below 6K. Keep some cash for that outcome instead of going all in right now