I am back with another Idea, this time looking at Bitcoin once again.
Today stocks has seen a surge and till now, they are still falling, meanwhile Bitcoin is shining!
Many more bad fundamentals things are happening in the worldwide markets, such as America/China trade war.
FED lowering interest rates helping the economy overheat and collapse.
American investors not so interested in national bonds, preferring shorter time frame investments..
Brexit, Hong Kong protests..
Many analysts also assume that recession is close.
The economy is seeing the longest expansion ever, and the world will see a recession for sure, how deep and strong the recession will be, its hard to tell now.
Recession doesn't equal economic crisis.
Recession is a common economic event that no one can prevent, only extend expansion but that will only make the recession deeper.
My point is, when Stocks are falling, Bitcoin is rising and when a recession will come, stocks will be falling for a long time and Bitcoin may see long uptrend once again!
Looking at technical side in the horizon of next week.
Daily EMAs has seen a slide, 12H EMAs gave a buy signal.
Daily has given a strong buying signal after a month long selling wave, 12H shown strong "slide".
12H was able to find support at 60 where it has seen a strong bounce.
Overall very outlook for Bitcoin , for very short term and even very long term.
I will be taking my profits eventually, as always.
If you agree with my opinion, please, don't forget to leave that "Agree Button" blue!
If I have missed anything, please, let me know in the comments below!
Thanks for your time and good luck trading!
15 min update.
MACD is pointing towards another buying wave, price currently in another high.
Uptrend has been broken, but demand is still above 60, so if the demand finds support on this level another spike can happen, but if not, retest of support is very likely then maybe some sideways moves.
After the Bitcoin has broken the downtrend, it seen some selling, but I have expected some more selling.. (only candle to 11,500$)
If Bitcoin can break previous resistance, current of 11,960$, it can breakout once again.