The 30-day movig average of the hash-rate crossed the 60-day moving average. But we did not generated the buy signal... yet. There is the second one condition. If we will read about the "hash ribbons" indicator, we will see that the condition is positive momentum.
So, If only the price movement generate the positive momentum than will...
Let's peacefully observe the situation. At the moment of that publication we see little green at Bitcoin - with very strong buy signal on 4H RSI . However, the dips on stocks could not end. Currently ASX200 (in Sydney) is -1,89% and SHCOMP (Shanghai) is -0,024%. So Stocks still remain red.
Is this the first the sign of Bitcoin & Stocks...
Mike Novogratz suggested to look at Bitcoin to Dollar chart. As on TradingView is only XAU/BTC, I inverted scales (red candles ago up). Mike Novogratz suggested that breaking the line can turboboost the Bitcoin price in relation to other assets.
Indeed, if wee will se at the chart, we see there is no significant breakout still (in relation to...
Price is still fighting but if will go a little down... It will be almost a perfect bounce. ;-)
Let's see what would be on Monday. If we would need not to generate any gaps on futures than the price should go back to at leas Friday's close... But let's see what the time will brig to us... At that time everythings possible.
As always, all best...
Of course we cannot predict future. We are not prophets and we do not have any crystal ball (at least this magic ;-) )... However, we know some formations they could appear and are possible in the nearest future...
The picture is so simple as in kindergarten. So, that does not need any explanation...
As ether is not manipulated as bitcoin, has much clearer technical situation of its pricing. That is why I decided to not overcomplicate if it is not necessary...
What do you think? Which way ETH will decide to go?
Look at the 15-min chart and look to the volume! Two candles with biggest volume have huge "shot of demand" - doji and the large white one... Maybe BTC found new support... ;-) And maybe it is time to start the accumulation phase... ;-)
Many of us knows the stock-to-flow ratio model (S2F), primarally published by PlanB. We know that model is only teoretical support and do not shows exact levels for the price. But can suggest, of course, "fair value" according to Bitcoin's inflation.
Today we have two months since we broke long-term support and the price dropped to c.a. 3800 USD....
We have completed a distribution oattern according to Wyckoff cycle theory...
PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be...
We see the news with "moonshining price of Bitcoin" - true wave of euphoria... Despite ones today's candle is little black (red) at the moment - keep in mind... ;-)
Some indicators at dayly candles are totally overheatted (exactly - were yesterday). Yesterday's RSI was over 80 while is over 70 for 7 days - keep in mind... ;-)
At Sunday we will...