No on the market means boredom – at least for the time being.
But there is also one good thing.
This is low which for traders is not good by itself but in this particular case means there are NO more people who are willing to sell BTC below $6500. We have this strong resistance since the beginning of the year ($ 5800-6500). We are also convinced we won’t go lower than $5800 which was stated in the previous analysis from October the 3rd (you will find it right down below the analysis).
We added 4 EMAs to our chart. As they were far away from each other on Dec 17 and Jan 18 they are very close to each other right now. It means when they are close to each other, the price doesn’t fluctuate, doesn’t change much. If you are a day trader or at least short-term trader it doesn’t work as an advantage. But in this case, it is positive. We have no room for further declines so the only way is up from here. This makes a safe mid- and long-term trade.
All we need is some positive news from the market, new investors coming (both individual & institutional). Please do be an EVANGELIST of the crypto. Of course, not all of the project will survive but 100-200 of them will make a revolution. Bitcoin will last for sure. We don’t have to worry about that. Please add your small part to make bitcoin and crypto popular. Just tell your family and friends how they can transform our economies, countries, politics, natural environment. Do it personally, on Facebook , Reddit, Twitter .
So this is a bit high-flown but, when things are not going where we want them to, big picture thinking might be the solution. It will help us to maintain calm and patient. Remember BUY LOW SELL HIGH.
So here are details of the technical analysis:
• 4 EMAs close to each other – low – no moves down expected as explained above
• Strong support at $ 5800 remains unbeaten
• strong positive uptrend – we are about to cross the level of zero
• indicator shows stronger pressure on the price lately – GOOOOD
So Guys. That’s it. First of all, don’t panic and the most important don’t sell now.
Are you BTC evangelist? Are you in? Please do JOIN us.
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