Quote from: TheUltraElite on September 25, 2018, 09:45:10 AM

Quote from: Globalbitcoinl on September 24, 2018, 06:21:44 AM

it is impossible to say for sure that this level is strong or weak, because we have seen many times how bitcoin grew without stopping after a long correction

See the easy way to decide whether a certain point is strong or weak is to check the orderbook for the trades around that price. If you see bitcoin has a large support level at the 6000k USD mark and at 6100 - 6200 USD marks. This means that even if the market is bearish it will not drop easily before someone dumps huge amounts to break that wall. But things can get really messy at times since trading is highly speculative and idiots are full of nonsense BS in every social media.

I wont say its impossible but you can make calculated guesses at these points on how to place orders.

For a market that can be manipulated at times, with no regulation in place, I would be very careful not to focus so much on order books as whales sometimes can use it as a way to deceive people into believing what they want them to believe based on order volume, but in the real sense, that order can be removed at any point in time and before you know it, you can see price dropping lower.

Sure, it is definite that this is a highly speculative market and nothing can be done to be able to stop it at this point in time, except to just monitor trend and be able to make adjustments as fast as possible.