Bitcoin market trends
The rise of Bitcoin price from 24,700 to 31,900 lasted for 29 days before it began to retrace. This retracement requires a downward shock of more than 20 days to end the entire wave structure and start a new rise.
The day before yesterday, I placed a long order at 28,800 to take advantage of the rise of wave x. But the price fell below 29,000 last night, hitting our stop loss. Now the price is hovering around 29,200, and many people don’t know what to do. In fact, from a structural point of view, as long as it does not break 28,550, wave x has not ended yet, and it may go up a bit. And from a time point of view, wave x also needs more than or equal to 5 days to complete.
Therefore, we still choose to continue to buy at 29200 today, with a stop loss below 28,550 and a target above 30,000. $BTC
Altcoin market analysis
BCH, Litecoin (LTC), COMP, LINK and other altcoins have completed a trend and are in a consolidation structure. If Bitcoin can break through the upper resistance, they may also follow the rise. So we can buy spot and make contracts at the right position. Litecoin was hit by the positive cashing, so don't touch it for the time being.
The consolidation structure of bch is complete, and long orders are arranged waiting for a breakthrough.
Community Trading System
The community trading system is open to everyone for free. After authorization, you can view the trading signals and suggestions issued by the system on your mobile phone or computer. Currently, the system's winning rate at the two-hour level of Ethereum is over 85%. After issuing a long order the day before yesterday, no short order has been issued. So we still focus on long positions.
Order Suggestions
Go long on Bitcoin around 29,200, with a stop loss of 28,500. Go long on Ethereum around 1,840, with a stop loss of 1,808.
