BTC (Y20.P2.E11).Bullish and Bearish Scenario
Hi All,
Putting it simply, my perception here is that it will consolidate here for the next major move and the formation most likely won't give us a clue for the direction of the breakout.
If one was to go with the odds, we have downward momentum.
However if one was to look at its historical location and past behaviors, we will stay close to the bottom macro trend-line and keep close to it and build support for the buildup.
So its go with history or go with the current momentum. Difficult to say, so maybe the next 5 days might give us a clue.
The concerning thing for me here is the volume. Historically volume was much more and why some think this was a fake out as we had declining volume but price increase to 10.5K.
We did not have a similar volume increase like the phases before.
But here is the thing, in 2017 there wasn't as many exchanges and over the counter agents, who I believe have taken volume away from say, Binance or Bitstamp.
The question is not answered, is the volume profile of 2017 and prior reliable to be compared today on these exchanges. I just don't know.
Let's hope we have the global market (oil wars) recover quickly and that it has a good impact on gold and hence BTC.
For now, I am not going to do anything but sit back and watch.
As one mentor says, "Doing nothing is sometimes the most important something".
Please give me a like\tick for your appreciation.
Regards,
S.Sari
Putting it simply, my perception here is that it will consolidate here for the next major move and the formation most likely won't give us a clue for the direction of the breakout.
If one was to go with the odds, we have downward momentum.
However if one was to look at its historical location and past behaviors, we will stay close to the bottom macro trend-line and keep close to it and build support for the buildup.
So its go with history or go with the current momentum. Difficult to say, so maybe the next 5 days might give us a clue.
The concerning thing for me here is the volume. Historically volume was much more and why some think this was a fake out as we had declining volume but price increase to 10.5K.
We did not have a similar volume increase like the phases before.
But here is the thing, in 2017 there wasn't as many exchanges and over the counter agents, who I believe have taken volume away from say, Binance or Bitstamp.
The question is not answered, is the volume profile of 2017 and prior reliable to be compared today on these exchanges. I just don't know.
Let's hope we have the global market (oil wars) recover quickly and that it has a good impact on gold and hence BTC.
For now, I am not going to do anything but sit back and watch.
As one mentor says, "Doing nothing is sometimes the most important something".
Please give me a like\tick for your appreciation.
Regards,
S.Sari
Comment:
Order cancelled:
BTC to go to $2k it seems.
No-one will know shit at this point.
No-one will know shit at this point.
Comment:
Areas of interest, these MA
Comment:
Discord: TradeToProspa
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
