BTC - LEVELS TO TAKE IN TO ACCOUNT IN THE UNEXPLORED TERRITORY
LONGER TERM INDICATORS SIGNAL THE BULL RUN IS FAR FROM BEING COMPLETED.
SHORTER TERM INDICATORS SHOW SOME EXHAUSTION OF BUYERS. LETS SEE WHAT THEY ARE AND WHAT ARE THE PRICES AND THE IMPLICATION ON ALTCOINS ON EACH SCENARIOS
What a rally. Amazing. What to do now? We are in a new level f price, no past data to rely on. Actually we have some, namely the ones from the 2017 bull run! Of course the prices are not comparables, but the dynamics can be. With a nonstop rally from 10k (or 20k) to 40k, someone sooner or later will start lock in profits. Even the hardest holder have a stop loss (or mental stop loss) at which he will sell his BTC to reenter at a cheap price. 38,500 can be that price. below 38.5k we can see a snowfall effect caused by many SL placed there.
This is the distance of the price from the 200MA. The green boxes indicate the bull run. We clearly see that a relief in the rally is needed now.
Monthly RSI need to breath also (in green the Bull runs).
No doubt this run we witnessed was just a preliminary bite of what we will see. What are the levels to reenter?
36,000 (-12% from the ATH) - the first one is 36k as it is the 200hourly MA. The 200MA holding the price is the minimum requirement for the trend to resume. If the price will stop here, we will be lucky :)
30,000 (-30% from the top) - it coincides with the 21 MA (level 1 in the chart) which is used in the Bull run many times as support
23, 700 (-45% from the top) - deeper dips in a bull run touch the 50MA as well.
Dynamics can repeat themself but I honestly think that this time something is changed with respect to 2017. Mainly, institutional investors, not simple whales entering the market draining the supply. I believe that 30k will be an optimistic target and I would be satisfied in rebuy back there. 36,000 is the most likely.
Please note that those levels are all DYNAMIC, therefore they may change if the price will lateralize for few days.
ALTCOINS? I will post another update on Alt only, but in Bull run they behave differently than usual. They fall (in btc terms) when btc goes up (of course, as it is the king) and rise even if btc is going down (contrarily to what we are used to see) as the market takes for granted that the bull run will resume anyway.
SHORTER TERM INDICATORS SHOW SOME EXHAUSTION OF BUYERS. LETS SEE WHAT THEY ARE AND WHAT ARE THE PRICES AND THE IMPLICATION ON ALTCOINS ON EACH SCENARIOS
What a rally. Amazing. What to do now? We are in a new level f price, no past data to rely on. Actually we have some, namely the ones from the 2017 bull run! Of course the prices are not comparables, but the dynamics can be. With a nonstop rally from 10k (or 20k) to 40k, someone sooner or later will start lock in profits. Even the hardest holder have a stop loss (or mental stop loss) at which he will sell his BTC to reenter at a cheap price. 38,500 can be that price. below 38.5k we can see a snowfall effect caused by many SL placed there.
No doubt this run we witnessed was just a preliminary bite of what we will see. What are the levels to reenter?
36,000 (-12% from the ATH) - the first one is 36k as it is the 200hourly MA. The 200MA holding the price is the minimum requirement for the trend to resume. If the price will stop here, we will be lucky :)
30,000 (-30% from the top) - it coincides with the 21 MA (level 1 in the chart) which is used in the Bull run many times as support
23, 700 (-45% from the top) - deeper dips in a bull run touch the 50MA as well.
Dynamics can repeat themself but I honestly think that this time something is changed with respect to 2017. Mainly, institutional investors, not simple whales entering the market draining the supply. I believe that 30k will be an optimistic target and I would be satisfied in rebuy back there. 36,000 is the most likely.
Please note that those levels are all DYNAMIC, therefore they may change if the price will lateralize for few days.
ALTCOINS? I will post another update on Alt only, but in Bull run they behave differently than usual. They fall (in btc terms) when btc goes up (of course, as it is the king) and rise even if btc is going down (contrarily to what we are used to see) as the market takes for granted that the bull run will resume anyway.
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