Can Bitcoin and Nikkei, a cryptocurrency and a stock index have something in common? Well not really, fundamentally they are different the market dynamics quite diverse. But as with some previous comparisons of and I want to point out how investor psychology can be quite similar over very different asset classes.
Common characteristics:
* -80% decline from the market All Time High. * Lengthy consolidation before the final drop. * Inverse Head and Shoulders rebound on the market bottom. * Consolidation after the Inverse Head and Shoulders and fairly sharp recovery close to the starting levels of the final drop.
Again I am stating for the record that Bitcoin is on 1D candles while Nikkei on 1W (Bitcoin's life span is far shorter than Nikkei's). This comparison is not intended to provide trading levels but to illustrate that investor psychology can be identical across various markets and completely different financial instruments.
But! If Bitcoin follows Nikkei's example we can see 11000 on the next Halving! Not impossible at all!
I am looking forward to your thoughts on this latest comparison on the comments section! What price do you think BTC will be trading at by the next Halving?
This has to be the strongest resistance of 2019 we will see. From the past price action, this could send us into a nice short term bear really, get your shorts ready :) Currently up 12.51% today on our long trade and scaling out and preparing for a rejection short trade to come soon :) Cheers guys!
TradingShot
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@TradeIndicators, Nice work team! Scaling is the way on this market movements!
TradeIndicators
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@TradingShot, You're totally right! With uncertainty, we can't take anything for granted :)