Seriously, could the setup be better then this? Bitcoin did a huge race from 3k to 14k in 6 month, just to prove everyone its capacity. Now Bitcoin is getting real beaten, just so it can stand up stronger.. and what a stand bitcoin can have if it decides to be the 3rd wave. What doesn't kill you makes you.... stranger! So if Bitcoin did 3k to 14k in 6 months,...
I'v said it before and this looks more and more as my ideas is coming to play. We saw a big move over 6 month period, from 3,1k to 13,8k. We can argue as much as we want about what caused the mini bull run, but one thing is for.. some ppl gained a lot and a lot of people lost a lot. Because it was not real, it was fomo and scams drived btc price up to this highs....
New impulse wave to breach, holds back atm by WMA100, 2WMA50 and 0,50% Fib. I believe the 2wMA50 is a strong support, btc have bounced once and today it bounced again (atm).. but I believe the support will break and that will cause a bigger move. At the same moment we can see RSI did not manage to break resistance(monthly) and StockRSI is in overbought...
This giant triangle contains different smaller patterns, and these patterns are telling us where the price will be supported or denied. In the first triangle, MA14/21 denied price, and BTC seek support at MA100/MA50 (which meets at fib ret. 0,50%) , means breaking down of first triangle and eventually even fib ret at 0,50%. The big question is will BTC closes...
We have two pattern that confirms that bearish breakout is just round the corner. I think we will see a correction down to around 60-55% market dominance. In 1-3 month we could see a bullish cross between MA200 and MA100. + Volume is significant higher then before (new money flows in to crypto space) + Time left to halving 175 days (25 weeks) + MA200 is...
I believe we have a great bottom floor at 5k area. (MA100, fib.ret .786%, trend-line) If you look back to 2015, you'll see the importance of MA100 on 2W frame. Another important and significant indicator-due to look after is MA21 and MA50, and how their relation to MA100. If we see a big gap between MA100 and MA21-MA50, we will se action to correct that. We can...
Look at the ratio between longs/short over time and take a look at Bitcoin over same time. In my opinion we have legit bottom at 4k area, built in march 2019. From 4k and up to 14k, there is a great mix of real demand, and lot of long- and short gambling. In this range of price, we can se four bigger actions (compared BTC with Long/Short ratio) and how price...
Depends on what time fram you look at, you get different ideas about where Bitcoin is and where it's going. My short term idea is bearish (1-3 month) We might se further move down to 6k-5k area ( fib .618 and .786 ) My long term idea is bullish (3-12 month) There is lot of support down 6k-5k and a potential start of wave 3.