Hello there fellow traders,
as we can see, BTC is lowering its volume since 2018 peak at 20.000.
DECREASING volume and FALLING price usually means a bullish outlook.
The RSI shows us, Bitcoin is absolutely oversold right now (It is the purple graph on the bottom)
The market cycle shows us, we are at the point of almost zero trust into the market called "capitulation" or "depression".
On Twitter and Tradingview it feels like everyone is done with BTC and those prophets promise 1k and lower.
Whenever this happens, it often tends to do the opposite thing= preparing a bullish run. Does not mean it will definitely hit the high of 20K again, but it might be possible to get into a short term uptrend respectively a shortsqueeze.
Since the "crash" already happened 20000 to 4000 ( -80% ; Start of the bullish run september 2017 between 1k-3k up to 20K) we can slowly start accumulating capital to invest soon.
The price might dip to 3000 or even lower 2kish, that actually would not be a surprise, since volume is low and those bears and whales can manipulate more easy than in other times when volume and market actions are higher...
The bottom is near if this is not the bottom...
Most of the BTC hodlers have got their portfolio in Hardware wallets and they wont move it.
The bigplayers who want to enter the game surely do not want to enter at 20k, not at 10k, not at 6-7k as we went sideways for the past two moths.
They want to enter at the absolute bottom, therefore they try to see where is the absolute support for btc.
A lot of people think it is 6k, because we touched it 5 times this year and suddenly, when volume is almost the lowest this year, it dips to lower 4K.
3K would not be a surprise, but they are testing the lowest point of BTC which they will find out soon. At this point the big boys gonna enter and well, when this happens, you can imagine what the future will be, because we saw last year what was possible without the big boys..
So to shorten this up.
We are near the bottom, even if it falls down to 1K-3K, soon we will see a positive uptrend.
It might take a months from now and maybe 2019 as well, even 2020 when BTC halving is going to happen, but at anytime, we will see a uptrend again!
Always look at the classic stockmarket, the world indexes like dow jones, nikkei, dax, MSCI china and all those indexes from big countries...
if the world inflates or an economic crash happens, this will affect btc. BTC, as of now, always follows those patterns...
in this sense, be careful, have fun and enjoy :P
Roman
(Would love to hear your opinion on this)
as we can see, BTC is lowering its volume since 2018 peak at 20.000.
DECREASING volume and FALLING price usually means a bullish outlook.
The RSI shows us, Bitcoin is absolutely oversold right now (It is the purple graph on the bottom)
The market cycle shows us, we are at the point of almost zero trust into the market called "capitulation" or "depression".
On Twitter and Tradingview it feels like everyone is done with BTC and those prophets promise 1k and lower.
Whenever this happens, it often tends to do the opposite thing= preparing a bullish run. Does not mean it will definitely hit the high of 20K again, but it might be possible to get into a short term uptrend respectively a shortsqueeze.
Since the "crash" already happened 20000 to 4000 ( -80% ; Start of the bullish run september 2017 between 1k-3k up to 20K) we can slowly start accumulating capital to invest soon.
The price might dip to 3000 or even lower 2kish, that actually would not be a surprise, since volume is low and those bears and whales can manipulate more easy than in other times when volume and market actions are higher...
The bottom is near if this is not the bottom...
Most of the BTC hodlers have got their portfolio in Hardware wallets and they wont move it.
The bigplayers who want to enter the game surely do not want to enter at 20k, not at 10k, not at 6-7k as we went sideways for the past two moths.
They want to enter at the absolute bottom, therefore they try to see where is the absolute support for btc.
A lot of people think it is 6k, because we touched it 5 times this year and suddenly, when volume is almost the lowest this year, it dips to lower 4K.
3K would not be a surprise, but they are testing the lowest point of BTC which they will find out soon. At this point the big boys gonna enter and well, when this happens, you can imagine what the future will be, because we saw last year what was possible without the big boys..
So to shorten this up.
We are near the bottom, even if it falls down to 1K-3K, soon we will see a positive uptrend.
It might take a months from now and maybe 2019 as well, even 2020 when BTC halving is going to happen, but at anytime, we will see a uptrend again!
Always look at the classic stockmarket, the world indexes like dow jones, nikkei, dax, MSCI china and all those indexes from big countries...
if the world inflates or an economic crash happens, this will affect btc. BTC, as of now, always follows those patterns...
in this sense, be careful, have fun and enjoy :P
Roman
(Would love to hear your opinion on this)
Comment:
Hey guys, as I promised- here is the update in end 2019.
As it was predicted, we reached 1-3K (3100).
Dead Cat Bounce happened as I thought it would and we have seen a rallye to 14.000.
I will update this in early 2020 February/March before the halvening.
Everything worked, I am glad to have our community and thanks again for alle the private messages!
As it was predicted, we reached 1-3K (3100).
Dead Cat Bounce happened as I thought it would and we have seen a rallye to 14.000.
I will update this in early 2020 February/March before the halvening.
Everything worked, I am glad to have our community and thanks again for alle the private messages!
Sic Parvis Magna - Greatness From Small Beginnings
It might take a months from now and maybe 2019 as well, even 2020 when BTC halving is going to happen, but at anytime, we will see a uptrend again! "
And we see a positive uptrend, this could be a "DEAD CAT BOUNCE".
We dont know that is going to happen but ETF is preparing itself, Banks, Elon Musk and goverments are getting bullish on BTC right now!
I will update this in like mid 2019 or END 2019 for sure!
:D