Welcome to this update on the most accurate Bitcoin on TradingView :)
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Along with fundamentals and indicators we do have very clear situation i would say
(regardless of hair stylists and taxi drivers write 3000$ BTC , 1,700$ Btc and so on.
They don't understand a nickle i'd say, because, with little fundamental knowledge on Bitcoin , they would not talking so.
They don't care, since it's not about them, it's about their money they will burn (your money) if being influenced by desperate FOMO.
Those influeced by FOMO with drop deeper, buying Bitcoin on all price levels while shouting " MOON, MOON" and will fall with MOON :).
This is a follow up on my previous idea, which forecasted Bitcoin uptrend posted at 10 days ago .
Now What is ahead of us?
(as making lowest low in the cycle=3800$)
And there we should place long positions to 4500, then shorting them to 4150 and going long to 5700-5800), then shorting again ( we dump).
If we take a look at the altcoins, we could notice that most of them didn't utprended and most the of them are either very much at the bottoms or near it.
Along with BTC , entire market colided and also deflated altcoin ratio over BTC .
Depth of fall was nearly 45% !!!
As per FA and TA given we could conclude next :
- StochRSI is uptrending on daily graph and on slight drop on 4h chart.
-RSI is also uprising on daily as being on very bottom and now bending upwards.
-MACD crossover on weekly is promising.
-I do expect rebound to 5750 in a form of a bulltrap.
-Uptrend to 6.250/6550 (but that can be speculative and risky).
Any kind of constructive suggestions along with critics are more than welcome.
Feel free you leave your comment regarding the situation on Bitcoin TA presented.
Your opinion does matter.
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Good luck guys
Let's see how accurate are we (or we are not).
(Everyone can be a captain after battle, right).
True trades don't seek for confirmations.
They make ones :)
Don't listen to professional amateurs telling you " Btc 3000$ or 1,700 " or some random prices given decision by " flipping the coin"
Those who call so low price ranges are in basin non understanding of fundamentals.