I am neither a economist or 10+ years experienced trader, but just I AM BITCOIN ENTHUSIAST!
#1 What is money?
In a capitalist world, you can't live a moment without money. We love money sometimes. Would love of money be to blame? Or is it foolish to ignore money? Or is it a problem not knowing money?
The financial capitalist system is not a system made in China. It's a system that started in the UK and developed in the United States.
The financial system of the world as well as China is very similar. The basic principle of money is the same.
To explain it easily, let's talk about prices. When I was young, it costs 2 CNY for a bowl of noodle, but it costs 30 CNY for a bowl of noodle these days. It's gone up 15 times in 20 years. Why does the price just rise? Of course, we learned about prices at school. It is the principle of .
The price is determined where the curves meet.
The theory is that the price goes up when demand increases, and the price goes down when supply is high.
But is the reason why the price rise is just that? NO!!!!!!!!!!!!!!
It's because the amount of money has increased. That means more money on the market means more FIAT money printed and moves in the financial market.
So In June, we've seen BTC hited 2019 ATH price and now consolidating. I just write this article to emphasize to dear my friends that BTC will never go to ZERO, and will pump & pump.
For example: looking at the chart, USDT printed a lot this year and it's marketcap has increased. Historically when US Tether market cap goes up, means BTC goes up.
(3 more reasons)
- BTC Halving soon in 10 months
- Uncertainty of financial market (See Gold , Oil , US-China Trade War)
- Underline revolution of Blockchain & Crypto
- Freedom!!!! I like this!
- Tether newly started to print CHNT (means China YUAN backed Stable coin)
#3 So When to LONG Bitcoin , Correction Done? I BELIEVE so, because I found the following two charts.
Some guys still talk about BTC Future's Gap, so we can still go to 8k I don't think so.
From my analysis chart, BTC hited Fibonacci 0.382 at 14000 USD from 20k ATH price (Dec 2017), and corrected to 0.618 Fibonacci Line.
Do you guys see on the above chart? So $9400 was a very cheap price I think.
And looking my posting chart, as a trading perspective, Bitcoin correction finished at $9365 and nicely pumped up to $10900.
What does this mean? I mean we are at uptrend now definitely, even some guys look it's like and the price will fall to 8k!
Current price is just correction done, and we will go up!
Trade with our own risk though!
I am long.
Hope you guys make money!
Med-term I mean is 4H,8H time frame.
We are moving up slowly, but 1400 could be smal resistance. Daily candle should be close above 10500 I think.
Howeveer looking at the above chart, momentum is definitely showing bullish.
My RSI Pivot trend indicates fcking BULLISH!