I m not technical guy ,just work in restaurant ,I check ur all ideas and I m really impressed with ur indications and informations , we need people like u to educate our self in this crypto world, kindly pls regularly update ur views and thoughts its helps lot to normal people like me , I m very thankful that I found u ,
whats ir ur view on bitcoin now ??? going up or down ? if possible explains expected price as well for up and down , love to see ur next idea ,again thanks for ur time here
@blackgold2014, Glad to help. My view right now is based on what we are all seeing. A tightening range. A break of 8100 or 5700 confirms the next direction of a longer term trend. So far what we can see is low volume on any follow through for upside movement. It looks like not many are interested in crypto as a whole and we need a new influx of retail investment. This could take a long time, thats why so many are so in support of a bitcoin etf because of the platform it would represent in terms of larger investors.
@WealthHustler, No problem. What have is a lot of divergences on higher time frames that manifest themselves quite early in all of our attempts to make new highs. Basically this means that after our first move up in any impulse we have zero follow through in terms of momentum. Spotting these divergences makes it really easy to spot what is going to turn around and reverse. In a higher time frame upward trend these divergences typically don't show up except for the occasional reset of RSI. Often price peaks will coincide with the peaks found in RSI and CCI. Right now we have a lot of divergences, so right now it indicates that we don't have the follow through we need. Maybe not enough volume in terms of market participants.
@WealthHustler, Anytime. Eth hasnt been as obvious historically speaking. For a long time not only did Eth respond more positively to BTC upside movement, but it also held on to its ground for quite a bit more time until recently. Eth was different though because it was a necessary requisite for a long time for ICO's. Now it should follow BTC more closely again to the upside and downside, except it will trade like BTC with leverage.