BTC Price Prediction March 2018

6 mars 2018

What we're seeing yet again these past few days is healthy price action. I've been calling the ranges since the major market correction early Jan, here we are in March and since I have been finding success short term trading strategy I wanted to share to hopefully help people who are diligently looking for a break. After falling victim to the over saturated market Dec 2017 - Jan 2018 i've taken a much more conservative approach and my charts show how i've been trading and winning. Lets jump right into the price action paired with basic TA i've been relying on for clues. As you can see the price action is healthily breathing between $12,400 & $9,000 for the past 8-9 weeks. This is a perfect opportunity for disciplined and risk to reward based short term trading. The purple dotted lines represent previous support or resistance lines extended. The Red channel is the 12 week bear trend since the mid Jan correction and the green channel is the bull trend recently developed. The current price action is outside of both these channels and is lingering in between. This means the price action is steady and is either going to continue fluctuating within the consolidating range until it either breaks support and falls or regains hype and comes back to the bottom of the bull channel. With that being said for the next 30 days we can use the pitchfork to help us identify the probable price action range. As you can see using previous support lines we can expect the next test of support to be around $10,500. That would be a good place to get in if the price holds around that level for 2+hours if your being aggressive. If it falls through it will test the 2nd support line around $9,600. I'm going all in around $9,500 with a stop loss near $8,500. I've been selling portions of my positions ranging from $11,300 - $11,800. Taking and compounding $1-2% once or twice a month for the past 2 months. Utilizing stop losses minimizes losses while using price action to support predictions and taking humble earnings. If you're someone who has been losing money the past 90 days, stop what your doing, dig in and get humble! gotta start somewhere and it sure feels better to take home 2% profits as opposed to 20% losses. Please follow me for weekly updates where i'll be sharing my conservative trading strategy for educational purposes and hopefully to be the voice of reason for those of you on the brink of a bad decision!