DK_Investment_Consulting
Long

BTC Update 1D - ETF postponed

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar

after the van Eck ETF was postponed by the SEC to the end of December, only Bakkt can give a previous price push. I currently see no other reason why the price should explode, so I now expect the final dump direction 4000 $ before we go into the next bull run. RSI and Ichimoku cloud bearish direction, MACD is still bullish but looks like a turnaround too. The Fiboancci correction ended exactly at 0.5 ( gold ratio) and the price is now ready for a new correction. I'm putting my buy orders below $ 5,000 as this support will not last this time unless there are unexpected news about new power-saving mining opportunities or entrances of major institutional investors
there is a strong support at 6120 as we all know and you dont even know if that support will break or not so how can you confirm and affirm that btc will go to 4000 just because you see a correction of 100 dollars?
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liberator_D vitaminas
@vitaminas, why butthurt bull? haha.. did you even read the "expect"
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its funny how you all switch in a blink of an eye from bullish to bearish and bearish to bullish once the price drops or go up in a sudden way and rush to make a TA out of panic BIAS, can only laugh lol
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@vitaminas, please read some other old analysis from me. I’m bearish since 3 months and predict a brake of the holy moly King support at 5800 because there is no real support if you chek the chart. 6120 will brake much faster than 5750-5800. but if this psychological support brakes panic start and a lot of stupid noobs sell their coins and that is the beginning of 4000. why 4000 ? China is number one in Mining and there is mining price 3800$ for one bitcoin and there are strong support lines which i will show in my next analyse. From 4K we will see a strong and fast movement cause a lot of new money will come in if everybody think the market is dead.

Trading is not only support and resistance or trend analyse, psychology is also very important
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vitaminas DK_Investment_Consulting
@DK_Investment_Consulting, bud btc is been bearish since january tho :) . there are 2 patterns in BTC right now, a falling wedge that would put is at 4800-5000 and a descending triangle with suport line around the numbers we mentioned, 5800-6120. And for that you dont need to know how much it takes to create a BTC in china, because even tho they are the number one miners that does not mean that price is obligated to go that low.
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@vitaminas, I think this is the answer for your questions :)
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