Bitcoin update. BTC-USD on November 20, 2018November 20, 2018
So we touched the RSI level of his record minimum of 2014. The market is too oversold, now it’s worth lowering the price even lower is too much effort, it is much easier to rise above. We are also approaching a long-term uptrend line, which may well be a magnet for the market, but also tight support at the same time.
The situation resembles the anomalous growth of the cue ball last year, only the other way around, if then we reached new peaks regardless of the indicators, now we are doing the same only down. The price is pushing lower and lower, we are seeing panic sales, remember, we recently wrote that it was these situations that give the whales the opportunity to quietly open positions, as well as yesterday, that: the end, but only the ability to catch an asset at a low price. Control emotions, share risks and be ready for the most unexpected turns. ”
The graph often reflects the psychology of the crowd; we constantly observe purchases during growth and panic plums on declines, which only amplifies the amplitude of price fluctuations. Just like buying a hayah doesn’t do any good, so the drain on loy gives the same result. Since we broke through the 4800, if there is no fixation above this mark, then going to the 3000 marked yesterday on the chart is very real, again look at 2015 on the chart above. No one wants to believe in it, but as practice shows, it is quite possible. What to do ? – Do not panic! Remember when the BTC price, having reached its maximum, flew down (seemingly unexpectedly for someone, but in fact quite reasonably), and traders who opened positions at this peak price received only a negative result and great damage. Then she was guided by greed, and now fear provokes to merge and form a panic sale, but a hike down to a peak can look just like a peak at the top, with a sharp reversal after. If it succeeds for some time to approach 3000, then this will obviously not be for long, and the discharge in this range will be equivalent to a purchase under 20,000. Control emotions, manage risks, consider all options for possible development.