Welcome traders to my speculation on BTC ,
As I was trying to predict the break out from the wedge we ware in we did it and that change my post ;) But are we out form the woodwork's .. I was pointing out in previous charts how supply here its getting weaker and weaker ( see arrows ) but we still need to get above the pivot on weakly 1D chart . We got rejected on R2 on 4H but thats normal . Idea is to hold at least the pivot to keep going up . As we all know BAKKT ( Blue vertical Line on 1D ) its coming live in less then a month from now . They will offer physically settled futures and I believe minimum block its 10 BTC . So they will need a lot . I believe all 2019 buying its done by institution and retail its still in miss believe and are not entering the market . We all know they will jump in later when all media will start talking IMO it will be at almost new ATH and with that we can see BTC going on serious rally . ( the wolf case in my other charts ) On other side we are still in this descending channel but we are holding the EQ and that's why I was looking for break out on the wedge . Its hard not to be bullish inside when you see all this but lets put emotions aside and think clear . If you follow I have bean mentioning the unfinished auction on Binance that's still in place . Im not sure if that's why we are pumping . IMO smaller orders are getting in before and pushing price higher . But how strong are they ? I guess we will see and how far this run will take us maybe just another lower high . IMO price it feeding of shorts because no one is selling out and supply its thin compare to demand . On other hand people that short will be more careful here so we might see price again going sideways for some time , Key its to get above the pivot on 1D and don't see supply increasing . I will add additional info under this like open books and look of the platform that im using . If you like the info on it and PRO account , follow and drop me a PM and I will get back to you , Also my new big idea for this year its to go long on gold with BTC and potentially short SP500 . :) Yes you can .
Thats' all I got for now.
As I was trying to predict the break out from the wedge we ware in we did it and that change my post ;) But are we out form the woodwork's .. I was pointing out in previous charts how supply here its getting weaker and weaker ( see arrows ) but we still need to get above the pivot on weakly 1D chart . We got rejected on R2 on 4H but thats normal . Idea is to hold at least the pivot to keep going up . As we all know BAKKT ( Blue vertical Line on 1D ) its coming live in less then a month from now . They will offer physically settled futures and I believe minimum block its 10 BTC . So they will need a lot . I believe all 2019 buying its done by institution and retail its still in miss believe and are not entering the market . We all know they will jump in later when all media will start talking IMO it will be at almost new ATH and with that we can see BTC going on serious rally . ( the wolf case in my other charts ) On other side we are still in this descending channel but we are holding the EQ and that's why I was looking for break out on the wedge . Its hard not to be bullish inside when you see all this but lets put emotions aside and think clear . If you follow I have bean mentioning the unfinished auction on Binance that's still in place . Im not sure if that's why we are pumping . IMO smaller orders are getting in before and pushing price higher . But how strong are they ? I guess we will see and how far this run will take us maybe just another lower high . IMO price it feeding of shorts because no one is selling out and supply its thin compare to demand . On other hand people that short will be more careful here so we might see price again going sideways for some time , Key its to get above the pivot on 1D and don't see supply increasing . I will add additional info under this like open books and look of the platform that im using . If you like the info on it and PRO account , follow and drop me a PM and I will get back to you , Also my new big idea for this year its to go long on gold with BTC and potentially short SP500 . :) Yes you can .
Thats' all I got for now.
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