Hello there beautiful person!
Hope you all are ready for a great Easter holiday, maybe a good time to enjoy life and try to forget a little bit of what happening around us; but still remaining safe.
This post will be a lot shorter than previous.
Changes from previous post:
Overall Market Reaction
So there seem to be quite a jump or pump in the market, a S&P 500 alone had 10% increase from 03. April to 07.April. Other stocks like: Tesla, Google, Amazon, Beyond Meat, Facebook, Vedenta, Apple, Disney and 3M are all up, and a fair amount of up as well. Gold have had an increase as well but slowed down.
It seems that this is the effect of all the printing of money and stimulus into market and companies, and I am afraid it is purely synthetic pump and it will not hold for long term.
In my previous post I mentioned a second wave, and I still believe that is in the horizon. However, we are seeing a temporary pump now up to that second wave, so be cautious.
Momentum of BTC
I have looked at the chart with daily and 4 hourly mainly and switched between: Heikin Ashi, Candles and Renko. I have switched between these three to see if the indicators show the same or a different story.
Most of my indicators are showing that this momentum is good, with exception of DMI that is not yet above the 20 threshold.
The 100 MA daily crossed the 200 MA daily on the upside, which is a good sign.
The triangle I drew a long time ago still holds and it is good to see that the price is moving again within this triangle.
Conclusion
I believe that what we are seeing now is the result of money flow into market and it is synthetic and will not hold in longer term. However, it is a good trading window for those of us that want to do active trading.
For this momentum to continue or hold, it is important that the resistant line 6826 is broken and becomes new support line, or that the 6460 support line holds with trading between those two resistant and support line mentioned.
Personally I am not betting that the price will hold and increase in short term (at least a month), and in best case scenario will re-test the upper triangle resistant line which now lies around 8700.
So I am buying now some BTC and Ether, and will be placing my sell orders at around 8000. My stop-limit will be 6000.
Whatever happens, take deep breaths and dont do anything rash and stick to your strategy.
Stay safe and have a great holiday!
Hope you all are ready for a great Easter holiday, maybe a good time to enjoy life and try to forget a little bit of what happening around us; but still remaining safe.
This post will be a lot shorter than previous.
Changes from previous post:
- Added new symbols to make the chart easier to read
- Added support line at 6460
- Added resistant line at 6826
Overall Market Reaction
So there seem to be quite a jump or pump in the market, a S&P 500 alone had 10% increase from 03. April to 07.April. Other stocks like: Tesla, Google, Amazon, Beyond Meat, Facebook, Vedenta, Apple, Disney and 3M are all up, and a fair amount of up as well. Gold have had an increase as well but slowed down.
It seems that this is the effect of all the printing of money and stimulus into market and companies, and I am afraid it is purely synthetic pump and it will not hold for long term.
In my previous post I mentioned a second wave, and I still believe that is in the horizon. However, we are seeing a temporary pump now up to that second wave, so be cautious.
Momentum of BTC
I have looked at the chart with daily and 4 hourly mainly and switched between: Heikin Ashi, Candles and Renko. I have switched between these three to see if the indicators show the same or a different story.
Most of my indicators are showing that this momentum is good, with exception of DMI that is not yet above the 20 threshold.
The 100 MA daily crossed the 200 MA daily on the upside, which is a good sign.
The triangle I drew a long time ago still holds and it is good to see that the price is moving again within this triangle.
Conclusion
I believe that what we are seeing now is the result of money flow into market and it is synthetic and will not hold in longer term. However, it is a good trading window for those of us that want to do active trading.
For this momentum to continue or hold, it is important that the resistant line 6826 is broken and becomes new support line, or that the 6460 support line holds with trading between those two resistant and support line mentioned.
Personally I am not betting that the price will hold and increase in short term (at least a month), and in best case scenario will re-test the upper triangle resistant line which now lies around 8700.
So I am buying now some BTC and Ether, and will be placing my sell orders at around 8000. My stop-limit will be 6000.
Whatever happens, take deep breaths and dont do anything rash and stick to your strategy.
Stay safe and have a great holiday!
