Can Bitcoin still make it? Why has it dropped again? Will it keep falling? What about Ethereum? Let’s take a quick look.
1. First, BTC has run into a major resistance level! The nearest minor resistance is around $74,500, which is why the price got pushed back down. So what happens next? Where will Bitcoin go from here?
2. I think this is an opportunity. Bitcoin could retest support around $72,500, giving us another chance to catch a bounce there! If it dips slightly below, we’ll cut our losses; if it bounces, we could make 1,000 or even 2,000 points! So as long as support at $72,000 holds, there’s nothing to worry about.
3. The price action is still pretty much in line with expectations. As you can see, yesterday we really did tell everyone to take profit at the $74,500 resistance level, with plans to go long again on a second test of the lows. And now we’re getting that second test. But the odds aren’t as favorable this time as they were the first time, so you could use a smaller position.
4. It’s the same story with Ethereum. Yesterday, Shuqin told everyone to take profit around $2,080, and looking at it now, that really was right at the top. I think support around $2,000 looks solid. You could try to catch a bounce just above support, around $2,020 or so.
5. Also, Intel has been kind of crazy lately. As you can see, in the video we made on November 6, we told everyone to buy when it was at $52. Now it’s at $63! That’s a gain of over 20%—really incredible.
6. To play it a little safer, I think we can sell some Intel into strength. Congrats to everyone who bought the dip! I think the opportunities in various cryptocurrencies and U.S. stocks look pretty good right now, so let’s keep trading~
1. First, BTC has run into a major resistance level! The nearest minor resistance is around $74,500, which is why the price got pushed back down. So what happens next? Where will Bitcoin go from here?
2. I think this is an opportunity. Bitcoin could retest support around $72,500, giving us another chance to catch a bounce there! If it dips slightly below, we’ll cut our losses; if it bounces, we could make 1,000 or even 2,000 points! So as long as support at $72,000 holds, there’s nothing to worry about.
3. The price action is still pretty much in line with expectations. As you can see, yesterday we really did tell everyone to take profit at the $74,500 resistance level, with plans to go long again on a second test of the lows. And now we’re getting that second test. But the odds aren’t as favorable this time as they were the first time, so you could use a smaller position.
4. It’s the same story with Ethereum. Yesterday, Shuqin told everyone to take profit around $2,080, and looking at it now, that really was right at the top. I think support around $2,000 looks solid. You could try to catch a bounce just above support, around $2,020 or so.
5. Also, Intel has been kind of crazy lately. As you can see, in the video we made on November 6, we told everyone to buy when it was at $52. Now it’s at $63! That’s a gain of over 20%—really incredible.
6. To play it a little safer, I think we can sell some Intel into strength. Congrats to everyone who bought the dip! I think the opportunities in various cryptocurrencies and U.S. stocks look pretty good right now, so let’s keep trading~
