It couldn't be more obvious. But sometimes the composite man will make it seem obvious just to rekt everyone later, so trade carefully.
With the current market status (a parabollic move that got halted with CME futures launch) and all the uncertainity going down seems the only path forward.
The rising wedge was a text book one.
Gets built straight from the...
Crypto going full bubble was easy to see for some, not me. But i was able to foresaw Monero going nuts up to x400 (40,000%) in just 18 months.
Check related ideas to see analisys of why xmr should have gone bubble in 2017 (darknet market adoption, reduced inflation, tail emission and privacy features).
Here a couple charts from my original monero long idea...
The lack of volume in bitcoin institutional derivatives, showing the lack of interest of institutional investors to bitcoin market exposure. Volume is averaging (50MA for 2h sessions) slightly over 1000 contracts, worth 5 bitcoin each.
The lack of audit of Tether and Bitfinex, a scheme that accounts for half of the BTCUSD...
I love being retired, i only have to play the safest and easiest bets.
I bought today's blood, basically btc and bch. Just added a bit more to my bch position on this cloud break and retest after that double bottom on descending volume.
You guys know i am THE bear. Neither alste. nor khun, bagofXMR is THE bear :joy:
NYA contentious (thanks to the core dev team and its fanatics) fork will show to the world bitcoin is going to split for third time in 3 months, a grotesque show that will set back bitcoin a couple of years at the very least (from mainstream institutional investors...
Red triangles: Rising wedges breaking down
Critical support: Reversal level for last bitcoin crash. 68.1% retracement of 2015-2017 bull market. 78.6% retracement of march-september bull market.
Doom level: below this most miners will be mining at loss, only bad things below this price. 78.6% retracement of 2015-2017 bull market
Green line: 2013-2014 bubble...
the big channel, the previous ath, the fib level, the 50% retracement... This level should hold for a while
EDIT: the buy zone is the green rectangle, that should be aligned with the bottom trendline of the channel. So the entry would be 2.9-3.1k
PBOC (china's central bank) already forbidded to raise funds through ico's and forces its citizens to liquidate their ico tokens.
SEC and the USA are also already starting to regulate the ico fund raising, and has already forced to refund eth to investors to one...
Found support on both 144 3h EMA and SMA.
Is trading back above key level at 560.
3h MACD crossed bullish
And fundamentally, Bitcoin cash proved to have a strong support among miners, who "lost" potential profits in order to get bitcoin cash blocktime back in track.
Plain and easy.
Bitcoin cash price rise coupled with Segwitx2 vs Bcore coupled with all the drama and leverage will add huge sell pressure on bitcoin price.
Let's wait and see.
Breaking the red bottom trendline would confirm this trade.
Bear div in both rsi and macd 4h, plus rsi bear div in 1d rsi.
Upcoming difficulty adjustment with current price would make bitcoin cash more profitable to mine than btc, expect miners switching to attempt to make bitcoin cash the longest chain thanks to lower difficulty (though would still have less pow unless more than ~50% hashrate switches, which i consider highly unlikely).
This, hashrate moving to bitcoin cash that...
Bubble is over, segwitx2 is noise, bitcoin just lived an epic short squeeze and has probably lured amazing amounts of overleveraged longs.
A retest of 1800 support will probably happen this summer. If broken 1200-1300 is sin sight and an ultimate support sub 1k could be visited in an epic bear trap/despair phase.
Trade safe and be careful, breaking ath...