Super Oversold here. On 3 out of 4, low-mid charts.
Looks like it will die and never come back.
- 4H 200MA Supporting
- 0.5 Fib from 9K move
- Double Bottom Hourly and & 5m
- Bouncing around 20DMA
- 10,800 previous resistance, now support
- 3D Golden Cross
- 1 Month MACD Bullish Div.
- Folks calling 8.5K - great contrarian.
Great place to add to your longterm...
- BTC bigger Wave C correction yet to hit 1.618 of Wave 3 Upward Fold.
- Wave 1.618 of Wave 3 Upward Fold confluence with 0.618 Golden Retracement. Would be Perfection.
Inside Wave C: (Right Chart)
- We see 5 drives followed by a textbook ABC correction.
- Wave C of this ABC hit 1.618
- Confluence here with multiple bearish indicators 1H, 200MA...
If there was ever an opportunity for bears to take out 6K levels, it was yesterday.
We had little enthusiasm from bulls to flip the market into bull-mode; all sorts of indicators, patterns and harmonics showing a deeper dive into 5K territory before reversal; and average support on order books (I've seen better). In addition to all this, Bitcoin Futures expired...
XRP - loved and hated in equal measure - has lost 86% of it's value since its January 2018 $3.3 high.
I know many of you hate Cryptocurrencies right now. After the heavy losses experienced during this year's bear market. Yes, you were taken for a ride by those who had a clue way before you did, and you exchanged your hard earned dollars for assets that where...
My current thoughts:
I can't imagine Goldman or any other whale Shorting this much longer. It would be like whales trying to buy the top when BTC was 20K. Would be stupid. We've retraced 70% since ATH. Even if BTC was tulips and died 90% -- they'd only hope to gain an additional 20% from here??? Is 20% gain worth the obvious risk here for a whale?
They are too...
We learnt one thing this week:
What a whale wants, a whale gets. (Whales are big/large individual or institutional investors)
It was hard to believe BTC would hit 8K given demand at higher levels -- but all those whales placing there orders at 8K (despite seeming crazy at the time), knew what they where doing.
We learnt another thing:
That around this time...
We just about touched the 200 Exponential Moving Average (EMA) and then the market reversed.
Barely touched is good enough for me, given previous EMA200 touches have not always made perfect contact with the EMA.
Three scenarios here:
We might see a retest of the 9K / 8K level here over the next 1-2 days.
A continuation of the upward momentum will serve as a...
Fundamentals of IOTA remain strong.
Great team creates currency with real utility - which most Cryptos are struggling to establish (use cases);
IOTA created to be the backbone of the US$485 Billion Internet of Things Industry. Projected to be worth Trillions in the coming years.
Backed by the largest software company in the world (Microsoft) and a growing list...