Quote from: Hiltohen on September 27, 2018, 10:46:47 AM

Quote from: pooya87 on September 24, 2018, 05:53:47 AM

there isn't any kind of meaningful resistance at $6800 and just because price is hovering there right now it doesn't mean it is a resistance! the real ones are around $8k price and anything until that point is just day traders playing around with each other in the market trying to make short term profit.

as for the "crypto market" i wouldn't start getting excited about altcoins yet because this is yet again another bitcoin price stability phase which has always translated to day traders paying more attention to altcoin pumps than before because there is not much of a profit to make in bitcoin when price is right where it was yesterday!

Right! Moreover, at this stage, as long as we are still even in a wedge or a descending triangle, the bitcoin market is still bearish. However, we might see some sideways movement as the case may be for a while, and that might really bring about some good movement for the altcoins as the case may be, but in this instance, I would say the best to do is just to be very careful with how one approaches the market as things can happen way down faster than going up.

Absolutely! One thing about a market is that the direction it decides to take can only be known with time and no one can be so sure as to how things would end up panning out eventually which is why a lot of people may not want to trade in any form or except just some short term as long as the market is still trying to find a direction which most of the time descending triangles are always bearish anyway, but even at that, nothing can be certainly guaranteed yet.

At this stage forward I would rather be particular with the upper line of the wedge and the price action on it rather than the $6800, which in this case, i am sure this should fall around the range of $7k to $7.2k.