JICPT| BTC gained momentum with big influencer come in!
Hello BTC traders. Recently, I just published a post titled 'BTC gotta make a choice of where to go '. In the idea, I mentioned two scenarios, with my personal preference on the second scenario (further going down) given no positive influencers joining in. The next day, BTC jumped by over 7% from the key level of $29500. I checked the news that day with no clear clue why buyers come in.
s3.tradingview.com/s...shots/i/iNBNNWYl.png
Two days ago, I found btc broke the downtrend line with small base candle forming on the daily chart. That really got my attention, because the leg-out is very likely to be a bullish candle. Yep. I'm right.
I just checked the news that JP offers access to crypto funds available from July 19th onwards. That happened to be the rebound day. The third positive influencer showed up:
1. Elon Musk who often influences bitcoin price via twitter . Price move could be up or down. His influence seems to drop drastically recently.
2. Chinese government is definitely against crypto, except the Digital Currency Electronic Payment (DCEP). Normally, BTC got smashed by relevant news from China. Btw, China accounts for more than 50% of the global bitcoin production. China acts as a super killer.
3. US financial institutions are supporters. They have clear plans to set up fund for wealthy clients, e.g. JP, Wells Fargo. So positive for the crypto.
4. US government senior officials express concerns on BTC for money laundering issues. However, this only lead to tighter regulation, not ban of the crypto.
As new funds come in and volume started to increase, I'm bullish about BTC. What's your opinion?
s3.tradingview.com/s...shots/i/iNBNNWYl.png
Two days ago, I found btc broke the downtrend line with small base candle forming on the daily chart. That really got my attention, because the leg-out is very likely to be a bullish candle. Yep. I'm right.
I just checked the news that JP offers access to crypto funds available from July 19th onwards. That happened to be the rebound day. The third positive influencer showed up:
1. Elon Musk who often influences bitcoin price via twitter . Price move could be up or down. His influence seems to drop drastically recently.
2. Chinese government is definitely against crypto, except the Digital Currency Electronic Payment (DCEP). Normally, BTC got smashed by relevant news from China. Btw, China accounts for more than 50% of the global bitcoin production. China acts as a super killer.
3. US financial institutions are supporters. They have clear plans to set up fund for wealthy clients, e.g. JP, Wells Fargo. So positive for the crypto.
4. US government senior officials express concerns on BTC for money laundering issues. However, this only lead to tighter regulation, not ban of the crypto.
As new funds come in and volume started to increase, I'm bullish about BTC. What's your opinion?
Comment:
Previous high zone got touched.
plan your trade and trade your plan
