$10,000 Bitcoin, Will It Hold?

Will we see Bitcoin hold $10,000 or will we see another dip below the round number? I don’t know. In this video I do share with you my plan for what happens if we do move lower as well as plans for both LTCUSD and ETHUSD should they move higher.

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By Trader Cobb -

G’day, guys, thought it’d be a good time to have a chat to you the top ten, given that we have bitcoin coming or fast approaching the $10,000 mark. I think it’s an important subject to be preaching and covering and talking to. So, here you go. Right now, what we’ve got is bitcoin pulling back around that 10,000.

I’m keen to keep an eye on this around the 6018 and the 10-grand mark. Simple as that. Will it get a higher low? Well, it depends if it bounced from there and get a higher high. But it’s been pretty messy for the time being, we have had you know these periods of running up, periods of running down, and then it’s got real messy, bit of a run up, again it’s coming back down. We are saying that the cyclicality is dead.

Really, really, really dead. But that doesn’t mean it can’t trade. Moving to the lower time frames, yep, we get below 10,000, I will have a look, so you know, we see BitCoin coming off. Couple things to note though is that the rest of the market doesn’t seem to be coming off as hard as what BitCoin has been. You look at a theorem right here and you’ll note a higher low and a higher high, pretty sideways though, not a great deal going on, and certainly not interested in trading until we break the high off here or get into a better downtrend.

AL’s very similar here, higher low on this daily time frame into a higher high. Pulling back, which is to be expected after quite a serious run to the upside. It is pulling back, it is not really looking all that fast right now, but I’m not too concerned, there hopefully a higher low to come in. Still all over flat to nothing going on there.

XRP

XRP also flat to nothing going on there like coin. Well, it needs to break above this high for it to kick on, it has with that high or low and that’s all I’m really interested in right now. If we can get above this high it could be trail able for me as we will have that option to keep back in and giving it a bit of flavor, something worthwhile watching over.

Bitcoin Cash, Binance, Tether

Bitcoin cash aside ways Binance continues to get hammered, we get lose against Tether and we know that it has been in a down trip for quite some time. I can see this break into new lows without too many struggles even when bitcoin has been powerful and moved higher then we have seen Binance coming off quite significantly. So it moves lower not off the cards at all. well, very divergent back in that cradles only continues to itch each time we get in there.

Look, cradle zone move, cradle zone move. Cradle, move, cradle, move. So on so forth, you get the point. Will we see that again? It doesn’t seem to really give too many hoops about the divergence here. So will it cause any issue at the moment, it doesn’t look as though it will. It looks likely they may continue lower.

Cardona

Cardona, well again back in that cradle. Look how sideways it’s being for a long period now. It’s sort of put the breaks on quite significantly on the dollar here and it just continues to grind it out very divergent once again here. Not telling me a great deal fine on the BSV. And one thing about BSV is it does have this resistance and unfortunately it broke down. I was watching throughout the week to see if it could get a high or low, push up through there and maybe it look for a long trade there as it turns out the market does appear to be looking a little bit more bearish today going into the mid-section of the week.

As I said before there’s no reason for me to be jumping in shorts now, there’s no reason for me to be jumping in a longs right now. There is reason for me to be sitting back and being patient waiting to see what this market does. As I say you know, these runs, decent run, decent run, decent run, decent run, mess, mess, mess. Not anything really worthy there. And once again, we’re going to wait and see how we operate around that 10,000 area. Seeing what goes on over the rest of the day and into the week.

If we do see those levels break i.e. 10,000 there on bitcoin lot on the over short trays, if we see light coin a theorem not moving higher than those levels I spoke of I’ll be looking for those lower time frame long positions. But always manage your risk trade very cautiously in these rather choppy markets awaiting for elegance and waiting for simplicity. But right now I have neither.

Take care, speak to you soon and those in Hobart, we’re coming to you next in two weeks time. We’ll do a live course, a small intimate event. Thank you to all of you that came along in Melbourne. I had an absolute blast and the pool game on Saturday night will go down in history. Thanks for your time, bye for now.

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