I noticed that there was a massive spike in irregular volume on the CBOE futures for bitcoin, which is indicative of institutional activity.
The volume identified at the CBOE could mean that someone has recently purchased a large amount of bitcoin and intends to secure their position with futures.
It all depends on how confident you are in crypto and bitcoin. The best time to plant a tree was 20 years ago. The second best time is now.
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Tom Lee saw the "bullish signal" on Bitcoin's chart
The well-known analyst of Fundstrat Global Advisors, Tom Lee, said that the first crypto currency is "a huge bullish signal." This opinion was expressed by the expert after Bitcoin demonstrated significant growth, breaking the mark of $ 7,000.
Tom Lee is convinced that the catalyst for growth was positive news and technical factors together. "At the weekend, many of the guys who discussed technical analysis talked about the potential formation of an upside-down figure" head and shoulders "or a ransom for Waikoff, so the technical picture began to change for the better," he said.
Does not exclude Lee and the positive impact of news. He noted that the news had a positive impact that MasterCard received a patent for launching the system for accelerating crypto-currency transactions. "I believe that news like the MasterCard patent has a positive impact, because they support the idea that digital money and money on the block are a full-fledged means of conducting transactions," Lee added.
The current situation with Bitcoin, according to Lee, is already a powerful bullish signal. The expert stressed that the currency is traded about 30% below the 200-day moving average, and this is very similar to the positive signal.
In the past, as the analyst reminded, at the time when Bitcoin was in a similar situation, this growth was followed by a period of high profitability. "If you look forward to 6 months, you will see very good results if you stick to the HODL strategy," Lee said.
The analyst summarized that he is very confident in his forecast, and this confidence is so strong that Lee is ready to declare a 90% probability of profitability of the investment provided that Bitcoin is purchased right now.
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# BTC / USD 20:04 07/20/2018 maybe it's an attempt through the reversal flag to protest 7200. If that's it, of course. In any case, it fits into the outset.
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The market has already grown out of this growth rate.
Do you mean target hit and a correction?
Or continue to push for 8.5k?
VitalyKaminsky
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@ebeurden, I mean, the market and people, forgot that bitcoin can move like this. the next steps up will happen faster
TheSourceNL
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@VitalyKaminsky, Thanks for your reply and excellent TA and calls. Keep up the good work!
I didn't know you were on twitter so I added you, you have 1 more happy follower.
vi_post
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Looks like it's raising wedge (bearish pattern). so if BTC won't brake 7620, we probably go down.
VitalyKaminsky
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@vi_post, Already everything looks bad, another divorce of hamsters
vi_post
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@VitalyKaminsky We are just at the support line on my chart, but seems that sellers push price down, maybe desired correction will start finally! :)
VitalyKaminsky
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@vi_post, Strong resistance line, I think there will be a strong struggle, we will observe
kitkat16
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he also said that the bottom came within one month from this indicator signalling. He think we are probably going down but within 6 months we will moon again.
VitalyKaminsky
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@kitkat16, YES, I agree, there can be manipulation around ETF . Globally everyone is positive. But this can only be a collective insanity.
Or continue to push for 8.5k?