¡¡¡ BITCOIN update !!! (Proxy: $GBPJPY 1H)
My personal analysis shows Bitcoin currently in an +130% probabilities of being in a temporary bubble making it impossible to anlyze traditionaly, thus, I use a proxy -in this case- $GBPJPY to get ideas. (if you are interested you can check my previous post for further details on that analisys).
Making a pure personal approach using this very personal and unique technique, chances are that we might be getting to a tough take-profit zone in bitcoin from the 17,000 to the 19,000-20,000 per bitcoin.
Market is so hot now that it is simply impossible to think in taking any short position here and longing involves extra-risk in any case we might be in the take-profit zone I just mentioned.
Best odds for bulls are to wait a pullback to the 15,000 zone. Bears must be sidelined. While these trendlines are respected the momentum will continue to the upside.
Regards,
Trade safe!
Alberto Alvarado
Ask me! | https://earn.com/iiivb/
Making a pure personal approach using this very personal and unique technique, chances are that we might be getting to a tough take-profit zone in bitcoin from the 17,000 to the 19,000-20,000 per bitcoin.
Market is so hot now that it is simply impossible to think in taking any short position here and longing involves extra-risk in any case we might be in the take-profit zone I just mentioned.
Best odds for bulls are to wait a pullback to the 15,000 zone. Bears must be sidelined. While these trendlines are respected the momentum will continue to the upside.
Regards,
Trade safe!
Alberto Alvarado
Ask me! | https://earn.com/iiivb/
Trade active:
¡¡¡ $BTCUSD update !!! ($GBPJPY proxy)
According to the prior and subsequent price action benchmarking the Cboe Bitcoin Futures Kick-off, these levels are still valid.
We are now in the best buying zone according to risk-reward as long as the price stays above the ascending trendline. In any case, we have a bullish movement it might be contained due to the Futures uncertainty.
On the other hand, if the price does not manage to stay bullish above the trendlines and support zone, market might enter in sell-off mode since there is a major fear sentiment due to Cboe's.
Regards,
Trade safe!
Alberto Alvarado
Ask me! | earn.com/iiivb/
According to the prior and subsequent price action benchmarking the Cboe Bitcoin Futures Kick-off, these levels are still valid.
We are now in the best buying zone according to risk-reward as long as the price stays above the ascending trendline. In any case, we have a bullish movement it might be contained due to the Futures uncertainty.
On the other hand, if the price does not manage to stay bullish above the trendlines and support zone, market might enter in sell-off mode since there is a major fear sentiment due to Cboe's.
Regards,
Trade safe!
Alberto Alvarado
Ask me! | earn.com/iiivb/
According to the prior and subsequent price action benchmarking the Cboe Bitcoin Futures Kick-off, these levels are still valid.
We are now in the best buying zone according to risk-reward as long as the price stays above the ascending trendline. In any case, we have a bullish movement it might be contained due to the Futures uncertainty.
On the other hand, if the price does not manage to stay bullish above the trendlines and support zone, market might enter in sell-off mode since there is a major fear sentiment due to Cboe's.
Regards,
Trade safe!
Alberto Alvarado
Ask me! | earn.com/iiivb/
According to the prior and subsequent price action benchmarking the Cboe Bitcoin Futures Kick-off, these levels are still valid.
We are now in the best buying zone according to risk-reward as long as the price stays above the ascending trendline. In any case, we have a bullish movement it might be contained due to the Futures uncertainty.
On the other hand, if the price does not manage to stay bullish above the trendlines and support zone, market might enter in sell-off mode since there is a major fear sentiment due to Cboe's.
Regards,
Trade safe!
Alberto Alvarado
Ask me! | earn.com/iiivb/