Bitcoin Where Is It Heading? Bitcoin Analysis PART1
For those who have followed me for a length of time, you will know I publicly advised you all a few months back, on 5 July 2017, to watch the USDEUR around 25th September 2017. I identified there was a CYCLE in play.
Now here's the thing it's unimportant if the cycle does not work, so we may pass 25th September 2017 and it may be insignificant.
So don't jump on me and say I was "wrong" as you're missing the point. All I am saying is be aware of time cycles as they can be significant. Time cycles are far more important than price in forecasting. Potentially USD may well find a low after having a significant drop in the last few months.
So what if USD changes direction what has that got to do with Bitcoin?
Well, Bitcoin is paired with USD that means if USD starts bouncing back up again then Bitcoin price potentially will do the opposite ie fall.
So USD has a significant bearing on Bitcoin. You should also be watching Gold - our friend goldbug1 has a good analysis of these correlations.
Now you must be asking "why has Sean today posted long trades on Stellar and Monero then?". It is because I think Bitcoin has the potential to break through the current down trendline (as I showed in my "Bitcoin Resistance" analysis) and move up briefly and have a last hoorah - potentially a trap for buyers.
Now, this is PART 1 of my analysis. in my next analysis, I will give a view on Bitcoin stay tuned...
Sean Vengan
10+ Years Professional Trader and Trading Educator
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis then it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is your full responsibility, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up my valuable time providing analysis to you please respect that I am providing it free of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please don't disrespect me or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
Now here's the thing it's unimportant if the cycle does not work, so we may pass 25th September 2017 and it may be insignificant.
So don't jump on me and say I was "wrong" as you're missing the point. All I am saying is be aware of time cycles as they can be significant. Time cycles are far more important than price in forecasting. Potentially USD may well find a low after having a significant drop in the last few months.
So what if USD changes direction what has that got to do with Bitcoin?
Well, Bitcoin is paired with USD that means if USD starts bouncing back up again then Bitcoin price potentially will do the opposite ie fall.
So USD has a significant bearing on Bitcoin. You should also be watching Gold - our friend goldbug1 has a good analysis of these correlations.
Now you must be asking "why has Sean today posted long trades on Stellar and Monero then?". It is because I think Bitcoin has the potential to break through the current down trendline (as I showed in my "Bitcoin Resistance" analysis) and move up briefly and have a last hoorah - potentially a trap for buyers.
Now, this is PART 1 of my analysis. in my next analysis, I will give a view on Bitcoin stay tuned...
Sean Vengan
10+ Years Professional Trader and Trading Educator
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis then it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is your full responsibility, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up my valuable time providing analysis to you please respect that I am providing it free of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please don't disrespect me or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.