When we started on Monday, September 17, it certainly seem to have met before for me. We have always seen the same bitcoin price between 6100 and 6500. This is the majority of bitcoin's time in 2018. Although some people are disappointed, I think this is positive. Bitcoin coin has been able to maintain value and has built a floor. When eth coin is below $180 and bitcoin holds its own price, the bears have a chance to lower the price. In addition, talking to people on the OTC desk and the feedback I got was that there were a lot of shorts covering around 6100, and many buyers came out of the woodwork.
Although bitcoin and eth coin suffered from the some trouble, The only thing I care about right now is time. We have been around 6500 for a long time. We have made two short sell-offs. The lows of the 6350 and 6330 are beginning to work. The shortcoming I saw was the 6100 double bottom on the 4 hour chart. If we take the 6100 out, the downside may be very aggressive and we may see a new low this year.
Ethereum had a good rebound at the low point and encountered resistance at 230. At the time of writing, the eth transaction price is 215. As long as we stay above 200, we should be fine. Consolidating the market above 200 is positive, I believe we have seen the lows. I may be wrong, but I have already injected it accordingly. I have been in ethereum for a long time.
The market spans the 220 level, just as Bitcoin spans the 6500 level. The market is consolidating, and neither bulls nor bears have the incentive to push the price. When there is no power, I call it the neutral zone. If a person does not have a position, it is best to stay on the sidelines. Let the market find its direction and then jump on it.
I just want to emphasize that no one really knows the direction of the bitcoin price. The price forecast is just hot air and noise. ignore it! Focus on the market and price. Although I do believe in lows and we are above these lows, that doesn't mean I will be right. The market can turn to the corner and we may be in trouble. If this happens, I will be blocked, it may seem short or I will wait and expect to buy at a lower price. I have to observe the market, which will determine my next move. Now, I am very long, but very nervous. Stop in place. Corresponding transaction.
