Bitcoin update

Bitcoin formed a rising wedge and now can dip further down. Current resistance at $11600-$12000 is where BTC has problems. So, it can go up for the last time close to $12k area and most likely will be rejected and headed down. Support levels to watch: $10800, $9800, $9000.

$9000 level is very important one and most likely will play as a strong bounce, BTC will form W-bottom and this long correction will be over at last. I think this is even healthier for BTC to dip once again and form w-bottom, then going up now on a low volume and various divergences.

How to play it:

a) You can sell part of your BTC close to $12k and look for re-entries at around $9800 and ultimately $9000 area. To be safe, don't put your buy order at $9000, go for $9100-$9200.

b) If you don't want to risk and afraid you going to miss it - at least make sure to buy this dip with your fiat. Buy levels are the same: try to buy it closer to $9000 bottom. Really nice opportunity to buy some cheap BTC there.

c) %Wise, playing altcoins can be more profitable, so you can leave your BTC and use it to buy cheap alts. Here, it is important to understand that not all altoins move perfectly together with BTC. Some move a bit ahead and some lagging behind. So, most likely you won't be able to do everything all at once (a,b,c) = sell BTC for fiat, buy BTC at the bottom and use that btc to buy cheap alts. But, you can try if you have time and skills to do that. Don't forget about risk management.