BTCUSD (Bitfinex) - Support and Resistance - Weekly S/R

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar

BTCUSD (Bitfinex) - Support and Resistance - Weekly S/R

I've marked the chart with the main weekly S/R (black horizontal lines) considering three major events:

1) The announcement by CBOE and CME about BTC future market;
2) The beginning of future market transactions in CBOE ;
3) The beginning of future market transactions in CME .

I think that the announcement was The Big Bang for BTC because the post-ad price climb may have been an attempt by the new speculators to run the classic 'Pump and Dump'. The price began to fall two days before the start of the CBOE futures contract negotiations, bringing the Bubble Ghost on the day of launch. Possibly a considerable financial volume went to sell contracts, since the majority was betting that would be the end of the BTC ...

But as William O'Neil noted, "The market tends to follow the opposite direction of what most people think."
Those who committed to the price fall saw the market pull the price even higher, touching the unexpected 20k USD. Coupled with the increase in post-CBOE price and projections to hit $ 100k in 2018, I believe that this time the financial volume went to buy contracts, and then the market pushed the price down. This was the market making non-institutional investors buy in euphoria and sell in desperation, as it always did...

The price now tends to whip up and down erratically, dictated by the side with the largest volume of speculators betting on the rise or fall of the price. The market always tends to pull in the opposite direction, acting as a fly catcher. Considering that the Open/High/Low/Close prices in big events are a great thermometer of the limits of tolerance of the speculators and of the market (as an entity), here they are.

The red horizontal lines are the main daily S/R and, therefore, secondary to those who think of long term investments. It is worth remembering that S/R breaking should be considered when there is volume above the media besides Open on one side of the S/R and Close on the other side. Shadows near to an S/R are a sign that this S/R has been respected by the candle.

Best wishes and good luck!


BTCUSD (Bitfinex) - Support and Resistance - S/R Semanais

Marquei no gráfico os principais S/R semanais (linhas horizontais pretas) considerando três grandes eventos:

1) O anúncio feito pela CBOE e CME sobre o mercado futuro de Bitcoins ;
2) O início das transações de mercado futuro na CBOE ;
3) O início das transações de mercado futuro na CME .

Acredito que o anúncio foi O grande marco pro BTC , pois a escalada do preço pós anúncio pode ter sido uma tentativa dos novos especuladores de executar o clássico 'Pump and Dump'. O preço começou a cair dois dias antes do início das negociações de contratos futuros na CBOE , trazendo o Fantasma da Bolha pro dia do lançamento. Entrou possivelmente um considerável volume financeiro nos contratos de venda, pois a maioria apostava que seria o fim do BTC ...

Mas, conforme já observado por William O'Neil: "O mercado tende a ir na direção oposta ao que a maioria das pessoas acredita."
Quem se comprometeu com a queda viu o mercado puxar o preço novamente pra cima, pra tocar os inesperados 20k USD. Somando a escalada do preço pós CBOE e as projeções de atingir 100k USD ainda em 2018, acredito que dessa vez o volume financeiro foi para contratos de compra, e então o mercado jogou o preço pra baixo. Isso foi o mercado fazendo investidores não institucionais comprarem na euforia e venderem no desespero, como sempre fez...

O preço agora tende a ficar chicoteando pra cima e pra baixo, ditado pelo lado que tiver o maior volume de especuladores apostando na subida ou na queda do preço. O mercado tende sempre a puxar no sentido oposto. Considerando que os preços Open/High/Low/Close em grandes eventos são um ótimo termômetro dos limites de tolerância dos especuladores e do mercado (como entidade), aqui estão eles.

Atingi o limite de caracteres do post nessas exclamações!!!!!!!!!
Dec 29
Comment: ***** It is worth remembering that S/R breaking should be considered when there is volume above the AVERAGE besides Open on one side of the S/R and Close on the other side.
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