I'm a holder for a long time, I like to read about and even participate in some ICO's, however I think we've already reached the peak in the crypto market (maybe a local peak, just fall to keep rising in the future), and the reason it comes to me is major that:
The T10 (US treasuries) is already rising; FED has already told us that there will be no more cuts (even QE continue and we know there will no rising now too); Gold is already falling; DXY (dolar index) is very low; Coinbase's IPO has already heppened, did not hit the "expected" 500, and has just melted 19% after that; Normal people are already talking about cryptos, and buying, pumping and creating more memecoins; Elon Musk that is very famous for his past "problems" with the SEC have been using his twitter like a form to manipulate de market;
Fundamentals:
Blockchain is a revolution. However, Bitcoin's code hasn't being updated for a few years, there is no "smart contracts" in it (it was invented later), it is an expensive and slow way to transfer money except for large amounts, and its not really anonymous. Gold has industrial applications now, but didn't have any use for centuries too, and it has its value. Bitcoin could be the same.
Now talking about graphics:
+1840% in 28 months; 1555% in 13 months (with only 2 negatives months in the middle); 505% in 6 months without a single month of fall (except for this one, I hope kkkkk)
A fall would be very "healthy" (or could happen even just for noise or pullback of the rising).
The volume has fall to the half from January to now, and the price is very far from the monthly moving averages, has crossed bellow VWAP and one of the weekly moving averages with a significant volume.
In daily we can see the moving averages and ATR Stop already becoming red and maybe forming a "gift" (with volume above the average).
In the 4H we can see another "gift" after something that may be a "pivot" to test again the Fibonacci's line where has done the last dip (what give us first target and stop). It could also be a giant descending flag (what give us a target in 45k).
Disclaimer:
I am not an analyst to recommend anything to anyone, I am just sharing something that I will do with MY MONEY.
The most important of any operation is the stop. Watch out any leverage, and never lose more then you can.
The T10 (US treasuries) is already rising; FED has already told us that there will be no more cuts (even QE continue and we know there will no rising now too); Gold is already falling; DXY (dolar index) is very low; Coinbase's IPO has already heppened, did not hit the "expected" 500, and has just melted 19% after that; Normal people are already talking about cryptos, and buying, pumping and creating more memecoins; Elon Musk that is very famous for his past "problems" with the SEC have been using his twitter like a form to manipulate de market;
Fundamentals:
Blockchain is a revolution. However, Bitcoin's code hasn't being updated for a few years, there is no "smart contracts" in it (it was invented later), it is an expensive and slow way to transfer money except for large amounts, and its not really anonymous. Gold has industrial applications now, but didn't have any use for centuries too, and it has its value. Bitcoin could be the same.
Now talking about graphics:
+1840% in 28 months; 1555% in 13 months (with only 2 negatives months in the middle); 505% in 6 months without a single month of fall (except for this one, I hope kkkkk)
A fall would be very "healthy" (or could happen even just for noise or pullback of the rising).
The volume has fall to the half from January to now, and the price is very far from the monthly moving averages, has crossed bellow VWAP and one of the weekly moving averages with a significant volume.
In daily we can see the moving averages and ATR Stop already becoming red and maybe forming a "gift" (with volume above the average).
In the 4H we can see another "gift" after something that may be a "pivot" to test again the Fibonacci's line where has done the last dip (what give us first target and stop). It could also be a giant descending flag (what give us a target in 45k).
Disclaimer:
I am not an analyst to recommend anything to anyone, I am just sharing something that I will do with MY MONEY.
The most important of any operation is the stop. Watch out any leverage, and never lose more then you can.