Bitbloxx
Long

BITBLOXX - CRYPTO MARKET UPDATE 17th JULY 2019

BINANCE:BTCUSDT   Bitcoin / TetherUS
It’s January 1st 2019, and you just read the news from 16th July 2019 (let’s just assume you can look through the future for this one time) that BTC has crashed down to $10,000. First, you will wonder if you are reading an extra 0 or the news is reported falsely? Then you find out that it’s all true and in less than 7 months’ time, BTC will “crash” to $10,000. Meaning, if you just hold onto BTC for the next 7 months, despite the crash, you will make a whopping 300% gain. Let that sink in!
Research suggests that over the period of last 10+ years, there have been roughly 80 days when buying BTC has NOT been profitable in the long run. That’s almost a 2% chance of someone buying BTC at any point in time over last 10 years and now out of money. Again, let that sink in!
In last 8-12 weeks, many people approached us asking if they should invest heavily in BTC and other Crypto currencies, and our answer has been the same, “wait for the right dip”. Today, on the 17th of July 2019, we firmly believe, now is the time to start thinking about it. Human nature makes us buy the rallying asset and avoid the falling one, whereas reality should be exactly opposite, but again this is why most retail investors lose money in any and every kind of market.
Now, let’s talk about the technical aspect and why we think that BTC is entering a sweet buy spot. The Fib retracement of recent $3k to $13k run shows that the price is entering an interesting 0.5 to 0.618 zone (green box in the chart above), coupled with a strong horizontal as well as 100 EMA support. That’s not it, the Fib extension shows, that in case of this validation, price can actually go as high as $19,200, which coincidently is right around the All Time Highest closing!
Fundamentally, BTC and Crypto are now widely talked about across the globe and financial industry. US Senate hearing on LIBRA is a step towards positive adoption of the technology and the biggest Industry giants are now working on it. BTC halving is also around the corner (May 2020) and history suggests that prices skyrocket well before halving as the mining economics change sharply.
Should you need any further info or our help in getting started, feel free to drop an email at info@bitbloxx.com.
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Team Bitbloxx
Great setup!
My ideas:
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Bro, do you know how to draw Fib retrace, lmao
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@nqtien310, FIB IS COIRRECT.
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Bitbloxx nqtien310
@nqtien310, Hello. We'd love to see how you plot it. :)
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ONE HUNDRED PERCENT CORRECT.... IT is literally following a similar trend to July 2017, The Ichimoku clouds look beautiful on the Day and Week timeframes, we retraced to between .618-.5 like stated, and we are on what could be considered wave 3 of an Elliot Wave pattern, which will bring us to the ATH and beyond.
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