Ive had a number of comments about what I think will happen with the ETF, primarily because if it were to be accepted / approved I have mentioned that I think that it will mean we have seen the bottom already.
I played the previous ETF announcement very well (link attached) and I anticipate a similar level of relative hype could occur.
The situation isn’t hugely...
Here i present an updated version of what was a very popular chart shared back in May of 2017, highlighting the market cycles bitcoin goes through, and how I thought we would see a $c.20k top on the current run before a significant reversion. Please check this out in the attached.
I use that chart as my framework for BTC and this represents an update to that...
I am Mid term-bullish on BTC going into the end of this week, but looking to get into the market on a pull back to occur before I get in to the market. The jury is still out as to whether this weekly bear trend is ready to turn around.
We can see that both the RSI and MFI are both Bullish on the daily having bottomed when reaching oversold on both at c. $7k...
Money Flow Indicator rarely used in Trading $BTC.
Over Bought Over Sold Typically leads to a minimium c.20% change in price.
Its been useful in the past too (see comments)
You can read more about it here
HEres my general view of the world
BTC is consolodating.
Large trend suggests we should remain bullish but there are definately bearish bias in the consolodaiton
We are making lowere lows but failing to make higher highs within a bearish medium term trend so the consolodation technically is bearish.
A breakdown of the symmetrical triangle would see a target of as...
Looking at the daily, we have an ascending wedge which had a fake out to the upside which made us look like the edge to edge trade was active but was followed by a breakdown which is now retesting the structure.. also where there is the kijun resistance in this bearis trend
If we pull back the tenkan (blue line) we may get a bounce c. 8400/500 which would...
There has been much conversation about shorts being at all time high. This is only part of the puzzle as longs are also slmost at their highest.
Based on the above chart my interpretation is
13k Longs are out of the money with a price range between roughly 14k down to current prices
19k Long Majority are in the money prices between $0 and current Prices
Bitcoin made a nice start to the week bouncing off support.
Im not convinced that this is 'the bounce' and think we have further to go towards cost of production and the 5k range.
Over excited bulls may be punished if there is not enough steam o back them up.
Beware of rallys on reducing voluyme and any bearish divergence on hourly timeframes!
One final failed...
Bearing this in mind and just thinking logically; from a purely finance point of view, what a prudent mining company (btc or other) would do when planning production, is to hedge future production plans either partially or in full via futures markets or swap contracts. I have experience doing just this when working in finance for a coke and coal production...
Gold is looking ready to make a move towards breaking from its multi-year correction.
We have the 50,100 sma crossing bullish - something which hasnt been seen since $225 and the start of the previous bull run.
We also have a bull flg forming on the shorterterm, which if it breaks to the upside, the target of c.$1400 would represent a break attempt of the Head...