for all the crypto maniacs :p As can be seen, BTC is far over extended. Off the short term trend and off long term trend. Has butted against the ATH resistance and is showing bearish divergence. In the region of $12,500 to $14,000, we'd say it's on trend and of an ok value in the timely market terms. At 19k, Bitcoin is still too expensive right now. I would expect Bitcoin to be of fair value 19k in late Summer 2021. If anyone is interested in a review of any specific crypto assets, please send me a private message. I can offer my time and charting skills to assess anything found on tradingview. Price on Application.
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Back to trend line sooner or later
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Maybe not that sharp a drop, but it's what I can fit on my mobile screen :P
great analisis. I wanna buy it but I don't want to chase the market. taking a step back is the best way to go. like you just did
awalker88
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what indicator is that? I'm new so this is quite confusing to me.. although I did make £3-4 in the last 2 days with bitcoin. not bad considering I literally had £10...
Rod_85
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@awalker88, they are just trendlines on a log rhythmic scale.
@awalker88, and a pitchfalk (trend channel) a few boxes to show whats buying territory and what's profit taking territory. Theres a resistance line exactly where bitcoin is right now too (thin red line)
awalker88
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@Rod_85, thanks. I don't know how to use this method yet. I will have to reeasrchbit. Thank you.
cankarako
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@awalker88 how can you trade bitcoin with 10£? transaction fee is higher than that at the moment