DJI & BITCOIN ARE HIGHLY CORRELATED
When DJI bottomed on March 2009 (GREEN), this was when btc was created, early 2009. This also ended the global financial crisis of the early 2000s.
On Oct 2011 (YELLOW), we saw a retest of the 200W ma on the DJI around 10500. This retest resulted in a massive surge in the btc prices: price rose from $2 to $15 or approximately...
Just a newbie so please throw me all criticism! Based off of price action, been using specific measurements for FX.
I understand that volatilty and spreads are much higher with crypto, but let's give it a shot!
CALL ME MOOON BOY!!!
I'm going to keep this very simple for all of you, gold is a very violate pair and many analyst's get overcome by so and so signals and don't look at the FACTS.
Currently gold is bearish in the weekly after a long 2 years of bullish price action a correction is due along with the monthly timeframe bearish divergence, this week after a huge drop a pullback is due...
it's now buy opp. since last dip.
new technology is born here.
scam or not, cz or Shaquille O'Neal, who cares - someone will pump it.
tesla, mercedes, bmw, audi, fort, chrysler, samsung, sony, philips, GE, Toshiba will buy this one.
Satoshi Nakamoto or Craig Wright would sell all of his btc for this one gem.
you find my text funny ;) it's truth, crypto is just...
I guess Ethereum have atleast one shot against Bitcoin in next cycle.
best scenario if ETH/BTC reach my target ETH/USD 4.000 USD
other scenario is ETH/BTC reaches lower high and ETH/USD top at 1.000USD
wrost scenario is ETH goes all time low on ETH/BTC chart slowly.. and sideways around 300-400USD
In my 1hour chart, all things lead to big green candles lol...
The Stock RSI is pointing upward, we are in a descending channel which usually brakes to the upside.
So in all, things are looking good...
We'll see if I'm right soon.
Woke up this morning had some tea, and a small shot of Hopium. We are forming a possible inverse head and shoulders on the 4 hr. My stop loss was hit yesterday so I am currently waiting on the sidelines to see how high we can go. Oversold on Rsi, this may just be a "refresh" of the RSI to lead to further downside action. My targets are as follows: High 5780 then...
Scenario where we break down and see a potential ranging area that if it played out like this could take quite some time before making a major move out of it.
I'm still bearish short to medium term and hopeful for a long term BTC bull run some time in the next 18-24 months. Swing trading in the interim with extreme caution.
I am probably wrong. do not trade on...