-Update BTC-
For no it is still quiet…The price of BTC is still around the $9477 - $9500. In my opionion we are in a very critical stage. Why? The 31MA is around $9437 (support), the $9837 is a very heavy resistance. As long if we stay above the 31MA the short term will be bullish . BUT if the price of BTC falls below the 31MA, this would be for us a SELL signal, than this is the beginning that BTC is going down to a new “bottom”. This bottom will be confirmed by the Hash Ribbon indicator and the price of BTC crosses above the 31MA.
If we look at the halving of BTC in 2016 and the Hash Ribbon indicator, the Hash Ribbon indicator gave after the first miner capitulation after the halving, the first buy signal after 30 days and when the BTC price crosses the 31MA up again.
So if we calculate when a buy signal should occur next week by the Hash Ribbon indicator this would be at 24th of June 2020 BUT If we look at the 31MA after the halving in 2016, the price of BTC crosses the 31 MA 4 days after the Hash Ribbon flashes the buy signal. So if we calculate this it should be that the 28th June 2020 will be the “bottom” and buy BTC and enter the market again.
In 2018 and 2019 our Gann analysis algorhitm gave both on the 26th of June a signal. In 2018 a buy signal and in 2019 a sell signal. Would this occur again on the 26th of June it would also be a signal for us that gives confirmation.
But what could be the “bottom”? IF we look at the VPVR it would be around $8700 BUT if this support would not hold, the possible bottom could be around $6800 - $7200.
Stay safe and pay attention to the market the next coming days!
For no it is still quiet…The price of BTC is still around the $9477 - $9500. In my opionion we are in a very critical stage. Why? The 31MA is around $9437 (support), the $9837 is a very heavy resistance. As long if we stay above the 31MA the short term will be bullish . BUT if the price of BTC falls below the 31MA, this would be for us a SELL signal, than this is the beginning that BTC is going down to a new “bottom”. This bottom will be confirmed by the Hash Ribbon indicator and the price of BTC crosses above the 31MA.
If we look at the halving of BTC in 2016 and the Hash Ribbon indicator, the Hash Ribbon indicator gave after the first miner capitulation after the halving, the first buy signal after 30 days and when the BTC price crosses the 31MA up again.
So if we calculate when a buy signal should occur next week by the Hash Ribbon indicator this would be at 24th of June 2020 BUT If we look at the 31MA after the halving in 2016, the price of BTC crosses the 31 MA 4 days after the Hash Ribbon flashes the buy signal. So if we calculate this it should be that the 28th June 2020 will be the “bottom” and buy BTC and enter the market again.
In 2018 and 2019 our Gann analysis algorhitm gave both on the 26th of June a signal. In 2018 a buy signal and in 2019 a sell signal. Would this occur again on the 26th of June it would also be a signal for us that gives confirmation.
But what could be the “bottom”? IF we look at the VPVR it would be around $8700 BUT if this support would not hold, the possible bottom could be around $6800 - $7200.
Stay safe and pay attention to the market the next coming days!