Hello everyone
Today a small update on the price-action of BTC. Let’s get straight in to this.
So today we are seeing a green day in crypto-space. With all the big players going up between the three and six percent. So, what are the most important things we have to look at today?
Graph
A lot of things to look at today:
-First of all, I’m happy to see that the volume is going back up again. That’s the first time since March. The volume is going up, just like the people who are going long on BTC (see graph).
This is a graph showing how much people are going long on BTC, this has a positive influence on the price-action. The bears are slowly but surely going back home.
-We can see a reversed head and shoulders pattern, this is a very bullish pattern. If this is an actual reversed head and shoulders, we should see an upwards trend to 7.8K. (why 7.8K? begin of the head – the bottom of the head).
-We can see clearly that we’ve now reached a critical point in BTC. The 6.7k mark. It has been a very strong support-line for months. Now it’s a resistance line. The question now is: are we breaking through?
-The BTC-dominance is still at a very high point (42,1%) this is massive! We know that when the market is going up, BTC comes down. When the market goes down, BTC goes up, that because of the lower volatility of BTC. The highest moment since January was in late March, beginning of April (+/-45%). That means that BTC-dominance could easily go down with 6-7 percent in the upcoming weeks or months.
-The only negative thing I would say is that our downwards trendline is still existing (blue line). This trendline is going to be a very strong resistance line. Our FIB retracement is confirming that (circle at 7.8k).
My prediction
Because of the rising volume and the amount of good fundamental news, I’m expecting a rise to 7.8K. When we hit that level, it all depends on the volume to breakthrough, if we do so, the bull-run has started!
My orders
I’m now hodling all of my crypto, I bought in at 6.2K. We have to look at the bigger picture, if we are buying at 6.2K , 6.5K or even at 7K, the difference is not that big in long term. I’m a huge bull in cryptospace, I’m convinced that BTC along with other big players (ETH, NEO, LTC…) will be huge in a couple of years. We are still in the beginning, the blockchain-tech will be adopted!
Give it a like if you appreciated it
Comment and thoughts are always welcome
My orders are my thoughts, this is no financial advice!
Today a small update on the price-action of BTC. Let’s get straight in to this.
So today we are seeing a green day in crypto-space. With all the big players going up between the three and six percent. So, what are the most important things we have to look at today?
Graph
A lot of things to look at today:
-First of all, I’m happy to see that the volume is going back up again. That’s the first time since March. The volume is going up, just like the people who are going long on BTC (see graph).
-We can see a reversed head and shoulders pattern, this is a very bullish pattern. If this is an actual reversed head and shoulders, we should see an upwards trend to 7.8K. (why 7.8K? begin of the head – the bottom of the head).
-We can see clearly that we’ve now reached a critical point in BTC. The 6.7k mark. It has been a very strong support-line for months. Now it’s a resistance line. The question now is: are we breaking through?
-The BTC-dominance is still at a very high point (42,1%) this is massive! We know that when the market is going up, BTC comes down. When the market goes down, BTC goes up, that because of the lower volatility of BTC. The highest moment since January was in late March, beginning of April (+/-45%). That means that BTC-dominance could easily go down with 6-7 percent in the upcoming weeks or months.
-The only negative thing I would say is that our downwards trendline is still existing (blue line). This trendline is going to be a very strong resistance line. Our FIB retracement is confirming that (circle at 7.8k).
My prediction
Because of the rising volume and the amount of good fundamental news, I’m expecting a rise to 7.8K. When we hit that level, it all depends on the volume to breakthrough, if we do so, the bull-run has started!
My orders
I’m now hodling all of my crypto, I bought in at 6.2K. We have to look at the bigger picture, if we are buying at 6.2K , 6.5K or even at 7K, the difference is not that big in long term. I’m a huge bull in cryptospace, I’m convinced that BTC along with other big players (ETH, NEO, LTC…) will be huge in a couple of years. We are still in the beginning, the blockchain-tech will be adopted!
Give it a like if you appreciated it
Comment and thoughts are always welcome
My orders are my thoughts, this is no financial advice!