I decided to post a new idea since I saw bitcoin is showing strong signs of trend.
E.g. it hasn't dropped more than 11% in 24h since March, it seems now most dumps get bought and the price is able to recover.
Buyers are rushing in if they think the price is cheaper than usual, multiple companies dumping gold, cash etc. in favor of crypto, dollar index...
This chart shows the 2 year moving average for BTCUSD, lol I know a quite big timeframe but that's how we can get the big picture.
Currently it seems bulls are in control, defi, corona, paypal, celsius, 2 year high, zero fee transactions, AMM, digital yuan, CBDC, money printing, inflation, stock market crashes, open interest, crypto lending, ETH 2.0, wrapped...
BTC was able to form a bullish channel - it seems the price increased and bears wear kinda weak, no the usual pump and dump that we saw many times before. I would have expected in the last days that we see more price drops, like we saw earlier.
Also bullish news (companies e.g. Square buying crypto now, the defi hype on ETH, concepts how to make a...
Bitcoin is hard to predict but it seems the "gravity" is pulling it to 10k$ most of the time which is,.. wow, what a nice round number half - 50% of the ATH of 20k$.
This analysis is markes as neutral because BTC is too explosive to give you exact predictions and expect them to become right.
That's what Bitcoin is worth to the people currently, half of it's ATH?
I try not to predict BTC price, I'm not sure where it goes next. We expect a breakout up or down soon, bollinger bands contracting, next event is usually a breakout.
Please comment below:
Why suddenly the volume is so low? It seems after the recent big dump volume is low, maybe some big traders got wrecked, or someone using risky strategies got an account...
The current intraday price movements are not the bitcoin we know. It shows a steady uptrend, the ups and down price spikes have lower volumes than usual.
What is going on? Is someone trying to step by step accumulate bitcoin (because of the don't believe in money that can be printed anytime, buy crypto or gold that has limited supply narrative?).
Didn't post for some time, now something again from me. Bitcoin is hard to predict but we saw it currently is in an ascending channel that has formed and thats passed the recent tests, didn't break to the downside.
So I see a chance of price going up, but I wouldn't bet much on it since... well BTC is hard to predict and volatile.
Volume is currently...
I am busy with. just a short trading idea with technical indicators this time, short idea literally!
BTC is totally due for a small pullback, it went up so much again.
RSI and other indicators say now: Overbought, many indicators traders will go short now probably, use a safe stop loss and early take profit, the uptrend is going on still, just a small...
I hope you have a good weekend and corona will be over soon, people already seem more relaxed and try to "resume normal operation"
Our game plan:
* Wait for a clear sell signal (7262.11 or lower)
* Pending short order gets triggered
* Take profit on 7053.87 (= pre pump levels)
The past cannot predict the future but if it does, here is the pattern I spotted:
"suck in" (big green pump candles) and "spit out" (big red dump candles).
Import: To profit from this we don't enter a short yet, we use pending order that hit once the dump is confirmed. So TA is neutral for now until we have the dump confirmation.
My last ideas was a LONG one, now an alternative SHORT idea. We saw this before:
* BTC price increases fast
* BTC price goes down to the level where it started pumping, ~ 6600$.
Will we maybe soon see a big candle that brings price back to "pre pump" levels?
Reasons why this is plausible:
* The pump was 2 big green candles in a row, doesn't happen...
So my short summary:
We are still in what I called an "ascending channel" which is a sign to go long but at the same time as it happens often volatility is high.
I personally opened a long position on a demo trading account but the high volatility triggered the stop loss, wiped me out.
So I think the bitcoin price is climbing up a bit, down a bit, up...
the "brick wall" (strong support) isn't breaking, tested multiple times.
I would recommend going long, but as always BTC is hard to predict, better do demo trading until you have a well working strategy, this is no investment advice.
What do you guys think where will we move? Pls comment below, have a good day!
I hope you have a good easter if you celebrate and use the quarantine time to increase your trading skills and knowledge.
BTC has been looking weird recently, up down, up down,... so let's look what our bitcoin box looks like from the outside.
Wow, it seems a "green channel" (ascending channel is forming) - higher highs, lower lows.
So can we go...
I hope you have enjoy the remaining weekend and don't get bored in quarantine, remember you can trade cryptocoins, plant some plants, browse random website or play with your pets if you have any.
Today I play with the cryptocoins, I would now enter a long position and exit after 100$ price increase, stop loss below short term support level. Why a long...
As you can see on the chart I identified some points (with this sparkle icon: ✨) where it seems magic happens.
With magic I mean suddenly big green and red candles appear faster than your grandmother might get corona.
I am not sure about the details but somehow I expect some green candle ✨magic ✨ to happen in the next 7 days again that will...
i hope you didnt catch corona yet, the virus that's more dangerous than trading btc on leverage 100.
today we had a lot of green candles next to each other, this sounds so synthetic and looks so overbought, in the next about 3 days i would open a short for -130$!
* no trading advice