Michaelsaylor
How Twitter posts influence BTC.Hello trading view friends.
Today i'm going post a technical reflection on how posts on social networks like Twitter are negatively and dangerously influencing cryptocurrencies.
Today, Elon Musk and Michael Saylor bilionaries posted conversations about Bitcoin mining and sustainable energy on their social networks.
The price instantly rose more than 5% for bitcoin and took the entire market up in a matter of minutes.
Immediately the price of Bitcoin went against most short-term technical analysis and broke resistances even with indicators pointing to overbought after a very strong recovery movement after the weekend.
My good sense tells me to look very carefully, because the way things are going, technical analysis is no longer needed.
Just follow some personalities on social networks who are manipulating prices and thus obtain your profit.
If we fall below the 200dThe 200day simple moving average has proven to be a leading indicator above all else for Bitcoin's bull cycles. Pay attention to previous activity over 6 years and observe price correlation around this simple moving average.
The reason price respected and stayed above the 200day SMA is unknown, but as a imperialist, I must honour it.
Another indicator to note is when Bitcoin retraced enough to test the 200d SMA (and stay above it), the daily RSI was right around this level we see now ~ 28-31.
Thus, the suggestion could be made using previous data that a low risk entry on BTC could be taken at this time.
I will be doing some modelling in Excel to show the exact correlation over the years between price action at the 200d SMA and price.
BITCOIN Analysis May 2021Target achieved after a month of waiting.
Gratitude to MIchael J. Huddleston(The Inner Circle Trader)for providing me with the tools to analyze these markets. I'm always an apprentice and will always be, getting better day by day.
Bought at huge discount and I'm still waiting for more as I labeled the prices below to keep doing DCA and buying at great discount.
As he says: Show me the charts and I tell you the news.
Elon Musk can say whatever, he's just one more person in the system trying to be the market maker of it all following his own agenda advertising XPRIZE.org
Buy when there's blood in the streets.
Fearful when others are greedy, greedy when others are fearful
#bitcoin sunday 5.16.21 pt.2... what is the current trend?seems like we're in the early (very) stage of creating higher highs & higher lows
with the caveat
still in neutral territory
as we are still under the 18-day moving average
(a MA I like to use occasionally)
#bitcoin 60K target still in play... bit of a false start... w/etrade
#CME opening in a few hours
we shall see
how the rest of this days action plays out
#BTC #bitcoin #GODCOIN has a target for $70k inverse head & shoulders
( i may have mentioned that before)
and I delve deeper a give you 3 near price targets
a good roadmap for money management
@TheCryptoSniper
thank you FRANCIS for training my brain to see these without even having to draw them
(ONLY PRICE PAYS)
;)
MORNING #BITCOIN #TRADERS 4.30.21 ... I FIND A JUICY NUGGET ON..THE OBV!
&
OUR BRACKETED CONSOLIDATION
IS NEARING THE END!!!
MSTR - MicroStrategy - Inverse Head and ShouldersPotential Inverse Head and Shoulders pattern present on MSTR, for those looking for a stock play on Bitcoin.
For a more conservative entry: break above $890 = breakout of the Inverse Head and Shoulders, more aggressive entry would be to enter now, prior to a confirmed break, this is risker (as the move has not be confirmed) however the distance to the stop loss is significantly less.
Stop Loss = Close below $520
-TradingEdge
