Trying to make heads or tails of where this market is going. Volatility has stalled and I am seeing mixed signals on various indicators and time frames. BTC Moon or Doom will be a series of charts that I or anyone can look back on to see what method of T/A was the most accurate. Charts of this series will be named "BTC Moon or Doom (1) ----> (?)"
Different indicators and styles will be used and these charts can be looked back on.
At this time my personal opinion is we are going to see movement down to the golden pocket zone before the called for bull run begins.
BTC Moon or Doom (1) (1) This first chart is a simple longterm trendline drawn on the bottoms and a fib retracement from the last swing high to swing low to identify the Golden Pocket zone between 61.8% and 65% fib.
BTC Moon or Doom (2) (2) This second chart shows long term resistance and support drawn on the tops and bottoms and a look at hidden bearish divergence in the RSI. BTC has been showing lower highs in the price action and lower lows in the RSI. This is hidden bearish divergence.
@goraxes_, agreed. Moon after a short to mid term correction. Fundamentals are bullish for BTC.
Snead
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Been trading for more than 30 years, all kinds of different exchanges and instruments and I have never ever seen a market which is so manipulated and rigged as BTC ! It is incredible ! The charts from the past months tell the story. It has nothing to do with more buyers or sellers , finding a price balance etc, etc, that is bs!
Ever since the BTC future was introduced BTC trading changed , it has become controllable . And it is being controlled because less cash money is required to do so thanks to futures trading.
Think about it: Will governments allow an instruments to develop, which gains international attraction, absorbs huge investment capital and which eventually poses a threat to their sovereignty and control over their financial system? Of course not! Since they could not control it they introduced future trading and suddenly the game changes.
The chart shows that the performance has nothing to do with TA, fundamentals, sentiment, momentum, patterns, ma’s, fractals,….. etc , etc. You can analyze as much as you want , all analysis over the past months from all technical analysts is wrong and only occasionally right because it is being controlled by interests groups. Sooner or later the market will make a move and of course some smart ass analyst will claim: „ see I told you so…I am sooo smart , bla bla bla“ but it will move because it was decided somewhere else and not buy us , the average traders or investors. Good luck!
Raj2906
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@Snead, I agree ..ppl are still posting TA shamelessly ..it's just following stock market ..I am waiting for another jump to get my money out from this manipulation and investing in stocks
darwinco
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@Snead, I agree 100%, please read my comments scrolling down.
pikitote
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@Snead, this!
It is so obvious that crypto is highly manipulated because it is in hands of some smart guys with some money playing and earning with people's money.
But, I think the manipulation is not as much as some think. I wish I knew how much...
There is a lot of new interest from institutions, and this will make the difference between no mans land and a market.
Anyways, all markets, and even life, are manipulated ;) nothing is what it seems.
About governments, well I think that maybe some insiders also have crypto today. And tomorrow they will be even more. Some day you simply can't end it and you have to adapt. That is how world change: slowly, no hard moves. When you notice, you're in.
@Snead, I agree with you to some extent. Everything you said is true, but something's T/A still works on...Human Nature. At this point I don't think we are analysing the fundamentals. We are analysing human nature at this point. Futures were supposed to be what made BTC climb but it has given institutions tools to manipulate BTC and crypto outside of the regular BTCUSD trading pair.
In 12 months - Moon.