What a rally that was!
We announced that in our two previous analysis: a breakout of the 4200 level would be a massive jump upwards... But who expected a $1000 jump??
Let's start from a long term view. Bitcoin just broke 200MA guys. We didn't even try to break it since APRIL 2018, this is probably the most bullish sign ever on BTC. 50MA is solidly over the 100MA, which is another positive indicator. At these prices then, the gap between the two will be even higher, indicating the bullish momentum.
Fundamentally nothing extremely relevant happened: there are rumors on W.Buffet considering a buy, Mc Donald and Russia big buys, but the only thing we are certain of is FOMO. Instead of correcting in a healthy way, after the first pump, we pumped up to 5330$, so the correction had to be bigger than expected.
But let's look at what are the possibilities now.
Our thesis is the following: "do you really expect a massive rally like this to end at the first wave?".
OF COURSE NOT.
So we identified an accumulation channel. Any buy inside the channel will grant you massive profits.
Today also the altcoins are showing life (ETH, XRP, NEO), but I will write another analysis on them.
Our warm suggestion is not to sell now, accumulate around the support and wait for the breakout.
Stoploss in case of severe violation of the support line..
Please, let us know what do you think!
BFCM
We announced that in our two previous analysis: a breakout of the 4200 level would be a massive jump upwards... But who expected a $1000 jump??
Let's start from a long term view. Bitcoin just broke 200MA guys. We didn't even try to break it since APRIL 2018, this is probably the most bullish sign ever on BTC. 50MA is solidly over the 100MA, which is another positive indicator. At these prices then, the gap between the two will be even higher, indicating the bullish momentum.
Fundamentally nothing extremely relevant happened: there are rumors on W.Buffet considering a buy, Mc Donald and Russia big buys, but the only thing we are certain of is FOMO. Instead of correcting in a healthy way, after the first pump, we pumped up to 5330$, so the correction had to be bigger than expected.
But let's look at what are the possibilities now.
Our thesis is the following: "do you really expect a massive rally like this to end at the first wave?".
OF COURSE NOT.
So we identified an accumulation channel. Any buy inside the channel will grant you massive profits.
Today also the altcoins are showing life (ETH, XRP, NEO), but I will write another analysis on them.
Our warm suggestion is not to sell now, accumulate around the support and wait for the breakout.
Stoploss in case of severe violation of the support line..
Please, let us know what do you think!
BFCM
