Coinbase/GDAX adn Bitstamp - next great opportunities to buy
Shown are all the key timeframes from 1/10/30/60 min and 4 hr, daily candles from top left, down and then up to right.
If we keep testing this $16k level there is good chance it will give way to drop to next support. Watch what happens on the wicks of the hourly or longer time frame candlesticks. If they are long, that means things get bought up quick and very bullish.
I see next massive support and buying opportunity at $11485 on coinbase which is a confluence of 50 daily MA and previous top - both of which are my favorite buy spots that I would lick my chops at.
There is also support at 4 hour 50 MA at $12.8k on coinbase. I would probably not be greedy and start getting long there too.
I do like the daily 50 MA support if we move that low - it will be hella violent again and YOU MUST HAVE YOUR LIMIT/BUY ORDERS to go fishing in the system ahead of time. you KNOW coinbase/gdax will be offline if we move down towards $13k. it's a gaurantee. Along with Bittrex and Bitmex being overloaded.
BTW, those drops from ATH on bitstamp would coincide with both Coinbase/GDAX *AND* bitstamp -35% at 4 hour 50 MA and -42% at daily 50MA.
My take: BTC was way overbought IMO as it neared the green parabolic resistance I have been tracking in past posts... but it's also start of s-curve and parabolic run so anything is game - expect crazy volatility IMO. While I expect BTC to hit >> $300k to maybe a million a coin one day in the future... however we were at the top of the parabolic range and it's hard to maintain that without a selloff as at some point you get new buyers out of funds. I theorize after USA late Nov thanksgiving holidays we had a mad rush to buy and it's tapering so we saw a pullback given how high BTC went. After xmas and NYE we may see another 2+week pump as friends and family discuss the pullback "opportunity" and finally I expect a bearish winter after we break out of the parabola and new buying interest wanes.... till we get a very healthy 67% correction (at least 50%). And the new buying interest starts. This is pure speculation but it sorta matches the story that the media could spin and really play out IMO. No one can predict... I'm just building a story I think may make sense in my own model and research of BTC prices. Feel free to add your own narrative.
TIP: If you go on Tradinview you can hold SHIFT and drag to see real time percentage move from any two points.
Happy fishing!
If we keep testing this $16k level there is good chance it will give way to drop to next support. Watch what happens on the wicks of the hourly or longer time frame candlesticks. If they are long, that means things get bought up quick and very bullish.
I see next massive support and buying opportunity at $11485 on coinbase which is a confluence of 50 daily MA and previous top - both of which are my favorite buy spots that I would lick my chops at.
There is also support at 4 hour 50 MA at $12.8k on coinbase. I would probably not be greedy and start getting long there too.
I do like the daily 50 MA support if we move that low - it will be hella violent again and YOU MUST HAVE YOUR LIMIT/BUY ORDERS to go fishing in the system ahead of time. you KNOW coinbase/gdax will be offline if we move down towards $13k. it's a gaurantee. Along with Bittrex and Bitmex being overloaded.
BTW, those drops from ATH on bitstamp would coincide with both Coinbase/GDAX *AND* bitstamp -35% at 4 hour 50 MA and -42% at daily 50MA.
My take: BTC was way overbought IMO as it neared the green parabolic resistance I have been tracking in past posts... but it's also start of s-curve and parabolic run so anything is game - expect crazy volatility IMO. While I expect BTC to hit >> $300k to maybe a million a coin one day in the future... however we were at the top of the parabolic range and it's hard to maintain that without a selloff as at some point you get new buyers out of funds. I theorize after USA late Nov thanksgiving holidays we had a mad rush to buy and it's tapering so we saw a pullback given how high BTC went. After xmas and NYE we may see another 2+week pump as friends and family discuss the pullback "opportunity" and finally I expect a bearish winter after we break out of the parabola and new buying interest wanes.... till we get a very healthy 67% correction (at least 50%). And the new buying interest starts. This is pure speculation but it sorta matches the story that the media could spin and really play out IMO. No one can predict... I'm just building a story I think may make sense in my own model and research of BTC prices. Feel free to add your own narrative.
TIP: If you go on Tradinview you can hold SHIFT and drag to see real time percentage move from any two points.
Happy fishing!