After the last analysis about the buy zone we had one more flush down by the big players to squeez all the small fish. But if you believe in BTC theres no way you would of been selling. You have to buy when there's blood on the streets.
Make no mistake and don't listen to the FUD this is move is going to be big. We are easily going to new highs on this move over the next months.
Next week we have the FOMC meeting (or the central bankers meeting) in the US which makes me think something big is going to change in the money markets. Typically the smart money knows before the rest of us what is going to happen. All we need to do is follow the volume and the big players to make sense of it. The FED has been printing money again injecting billions of dollars into the banks and economy trying to stave off the coming recession. BUT all this does is make hard assets go up in value ie gold and BTC. As long as these fundamental issues continue you should continue to hold the BTC.
Now to the technical side.
There is 3 clear technical indicators as to why the low is in.
-we have touched the golden ratio exactly 61.8 fibonacci
-we have a nice morning star pattern formed on the daily chart off of this massive support zone
-we also have massive RSI divergence on the daily chart.
Now we have broken back above the 20ma with massive follow through on volume.
Keep holding your bags.
Make no mistake and don't listen to the FUD this is move is going to be big. We are easily going to new highs on this move over the next months.
Next week we have the FOMC meeting (or the central bankers meeting) in the US which makes me think something big is going to change in the money markets. Typically the smart money knows before the rest of us what is going to happen. All we need to do is follow the volume and the big players to make sense of it. The FED has been printing money again injecting billions of dollars into the banks and economy trying to stave off the coming recession. BUT all this does is make hard assets go up in value ie gold and BTC. As long as these fundamental issues continue you should continue to hold the BTC.
Now to the technical side.
There is 3 clear technical indicators as to why the low is in.
-we have touched the golden ratio exactly 61.8 fibonacci
-we have a nice morning star pattern formed on the daily chart off of this massive support zone
-we also have massive RSI divergence on the daily chart.
Now we have broken back above the 20ma with massive follow through on volume.
Keep holding your bags.