Date: 28th February 2020 Time: 12:51am GMT+8 Malaysia Time
Good day to anyone that follow my post. As you can see now on the chart (4 hours), the signal to buy has already begun.
Bitcoin will bullish to 9450.55 key level price. The sign has been confirmed by the robust demand on 240 minutes chart.
It is a major downtrend but the price will retest again the resistance whether it is the new beginning of downtrend on the epidemic of coronavirus.
While coronavirus in the background, bitcoins slumped while gold rising.
It is not a very good instrument to pick for the safe heaven asset while most of people putting money on bitcoins.
The disease make the chaos up side down and let the price fall. While the price slump due to lack of confident to buy bitcoins, other investor of bitcoins try to put their money to increase the price after a short fall. This let the investor to fear thus selling the bitcoins.
The price will hit 9450.55. This will collecting the gain of trust from the traders for a short time.
Nice analysis. Are you using any AI? or only technical and fundamental analyses?
Zezu_Zaza
⋅
@ungushi1971, I am not using anything on the chart. I just read the chart. I dont use any indicator at all except RSI as you can see. I see price, I see volume. That is how i read the market. Fundamental yes because I need to know what is going on towards the world news but that not help at all. Since the fundamental always late to give information. So I read price and volume. That is all.