China has been described as leading the bitcoin market in trading and volume.
I have compared the Shanghai Composite vs the price of bitcoin.
As the Shanghai has surged since July, the price of bitcoin has dropped. I have labeled why. CNY 1 trillion of "Pledged Supplementary Lending" PSL to the China Development Bank was announced mid -July. This was later...
Price is above the 50, 100, and 200 Exponential Moving Average. MACD has crossed over and is above 0. RSI is in bullish territory as well with plenty of room to run.
DMI is also bullish along with Money Flow.
January Effect is yet to happen, which could also be a spark for this small cap.
The clouds are looking bullish. As I have labeled on the chart everything you want to see to be bullish is occurring.
Also confirming indicators are all bullish as well.
I think its time to take a long position
The key word of the last week has been whipsaw. This term is applied in trading circles when the price head’s in one direction, and then is quickly followed by a movement in the opposite direction. The price of bitcoin has entered a period of high volatility and is whipsawing all over the place. A few simple words here: traders beware. It is time to be vigilant...
Price has penetrated into the cloud and is now stuck in it.
It has tested support and held thus far. But it is a time to be cautious and the evidence is leaning bearish. If we break through support in the 350-357 zone. Time to short it. Other indicators need to improve or it looks like a false breakout occurred. Now is a time to be vigilant.
Right now is a time to stay bullish but be vigilant. The price is back in the cloud which is warning of a change of trend.
Price has held support and stayed in the cloud. Indicators like RSI point to staying bullish. Cloud Span A has crossed Cloud Span B in the cloud ahead which is a bullish sign as well.
The Standard Line(BLUE) has crossed through the cloud to...