Hey all,
Lately people are being even more emotional than usually within the crypto industry. Many think that trading this market is very risky and requires you to be at the charts every single minute of the day. However, those that are doing that are trading with
insane amounts of leverage to push this market up and down. Which is fine in my opinion if you know what you're doing!
Let's talk PA, currently the weekly chart is looking beautiful, located within our key area of weekly demand together with the weekly 50EMA as extra confluence to go higher from here. By utilising multi time-frame analyis, we can see that the
Daily time-frame created demand as well after the trendline breakout, however price is still not moving rapidly to the upside... we are truly in a ranging phase.
What BTC needs to do to confirm a trend back up is to break atleast above $37000, if so the full market can go back in a great up cycle in my opinion. However the issue here is that normally based on the historical data since inception
of this chart, the average corrections of BTC are normally deeper which means that BTC can break 30k and if we go below 30k with a daily close I see it tank to 20k easily. Few months back I told people that 10k was possible in the bearish cycle and
maybe that is a bit far but I remember it going from 20k and calling around 3k as well. Let's see, be ready if you're not positioned and want great prices, be careful if price break 30k.
For now I am bullish and I've allocated more of my capital towards Crypto, besides my normal holdings in Stocks and the normal portfolio in FX.
Kind Regards,
Max Nieveld
Lately people are being even more emotional than usually within the crypto industry. Many think that trading this market is very risky and requires you to be at the charts every single minute of the day. However, those that are doing that are trading with
insane amounts of leverage to push this market up and down. Which is fine in my opinion if you know what you're doing!
Let's talk PA, currently the weekly chart is looking beautiful, located within our key area of weekly demand together with the weekly 50EMA as extra confluence to go higher from here. By utilising multi time-frame analyis, we can see that the
Daily time-frame created demand as well after the trendline breakout, however price is still not moving rapidly to the upside... we are truly in a ranging phase.
What BTC needs to do to confirm a trend back up is to break atleast above $37000, if so the full market can go back in a great up cycle in my opinion. However the issue here is that normally based on the historical data since inception
of this chart, the average corrections of BTC are normally deeper which means that BTC can break 30k and if we go below 30k with a daily close I see it tank to 20k easily. Few months back I told people that 10k was possible in the bearish cycle and
maybe that is a bit far but I remember it going from 20k and calling around 3k as well. Let's see, be ready if you're not positioned and want great prices, be careful if price break 30k.
For now I am bullish and I've allocated more of my capital towards Crypto, besides my normal holdings in Stocks and the normal portfolio in FX.
Kind Regards,
Max Nieveld