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Bitcoin monthly chart 1-1-2021Good morning again ladies and gentlemen and happy new year to each and everyone of you. I hope we all got 2020 out of our systems and we are all determined to make 2021 a horse of a different color. 2020 may not have been good for most people but most people dont hold Bitcoin... Yet. This past year we saw a low of 3800 and a high of nearly 30k. It was the perfect bullish storm and in this analysis I will sort of wrap up the previous year while looking at 2021 as well. So grab a cup of coffee and lets chat about charts. This monthly chart is amazing. The month of December 2020 was the best month Bitcoin has ever seen. With the wick and all we went from 17600 - 29600 which for those who dont like math is 12k. Im still shaking my head in disbelief. I mean I thought the bulls probably would eclipse the ATH but not in this fashion. The bulls really put on a show to end 2020 and 2021 is off to a great start. But can it last? I know many of us are expecting a drop. I guess you could call it post traumatic stress disorder from the 2017 pump and dump. I can tell you right now I would love to see Bitcoin keep rising but nothing is written in stone so you need to use risk management if you are going to stay long. Walk that stop loss up as the price rises. Sure you may miss the top but if we break 30k you will be able to walk that stop up even more. This ensures you lock in that profit. Simple yet effective. With tax season on the horizon and most of the people that have invested in Bitcoin being in profit at this time we can all guess that the tax man will come knocking. Will this result in a mass cashout of BTC in order to pay the debts? Not necessarily. And let me explain why things could be different this year. People are receiving stimulus checks in the US. 600 USD per person/ and 600 per dependent. This is being sent to us after Xmas and the holidays so much of it can be used for something besides Xmas. Like Taxes??? Just a hunch folks. This stimulus could bolster Bitcoin. Especially because I imagine the US govt is just having this money printed like toilet paper. This leads to inflation and Bitcoin goes up when the USD inflates. Simple economics. We reached 29600 in 2020 so I am very optimistic about the future of Bitcoin. Even if there is a pull back we should not get discouraged. A drop in price means another opportunity. After all my mentor Todd once said "when hasnt Bitcoin bounced back?" which is an accurate statement. As we enter 2021 I am cautiously optimistic. We have not seen the bottom fall out yet. But that could be because its a holiday today. I would watch the charts this coming Monday for sure as people will be getting back to work. We will see if the bulls remain in charge or the bears finally get a turn. I love this monthly chart. I hardly ever share it but I figured it would be the perfect day to do just that. I hope you all have a great 2021. Make good choices my friends. And always remember WTFDIK??? TLDR: Happy New Year. New ATH of 29600. Nice year bulls
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-30-2020Good morning again ladies and gentlemen and welcome back to my daily look into the charts. Today I have the 4hr time frame pulled up and we seem to be holding onto 28k for the time being. Things look good for a good strong yearly close. I believe the daily and weekly and monthly all close in approximately 9 hours give or take and a lot can happen in 9 hours. Im hoping we can maintain some of these gains and start 2021 off the right way. We will know soon. Lets take a look at what is going on this morning. I see we are still respecting the trend. We remain above the ascending support for now and that is a good sign for the bulls. No sign of a pull back yet. I must tell you that I expect a pull back soon but for now Im enjoying the bullish momentum. I will stick with my plan of walking up my stop loss to lock that profit in. This allows me to remain in the trade til we lose support. And that support I have my eye on is the 4hr 50 MA. I dont want to see us lose the support but if we do we may see a sizeable drop. Just remember there is a big gap below us that would require a drop to 23500 approximately to fill it. So this is one big reason I recommend setting a good stop loss. Those bears are tricky and proper risk management can help you avoid becoming a victim to the bear. With a new ATH of 29300 approximately this means 30k is within our grasp. Perhaps this is where the line in the sand will be. Just like 20k was for all those years. I guess we will find out for sure in 2021. Looking at the 1 year candles we see this has been one of the best years for Bitcoin ever. We have a low of 4k approximately. And a high of 29300. That is over 7x if you bought at the right time. Pretty impressive for some tulips I would say. This is the last day of 2020 so make sure you set that stop loss and trade with caution my friends. When candles close they can get crazy sometimes and tonight the daily and the weekly and the monthly and the yearly candles close. Lets end 2020 on a strong note and make 2021 our B!+&%. I hope you all have a safe and happy new year. Make good choices folks. And always remember... WTFDIK??? TLDR: Happy New Year ya filthy animals 
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-30-2020Good morning again ladies and gentlemen and welcome back to my daily look into the world we call Bitcoin. Today I pulled up the 4hr time frame after retaking 28k (and losing it) overnight. No sweat though right? We crested around 28600 which means we created a new ATH. Very impressive bulls! 2 more days (including today) left in 2020. Can we maintain these levels into 2021? Lets take a look at what is going on with my busy chart this morning. There is a lot going on so I am going to cut to the chase this morning. We created a higher high overnight which I mentioned already. As long as we are consistently creating higher highs the bullish run isnt over. Although we do seem to be stalling out just under 29k. Perhaps this is the top but I will tell you I am sure not betting against the bulls. Not after what I have seen them do over the past few months. But when higher highs are evident on the major time frame it gives traders confidence as higher highs are typically viewed as bullish. I noticed that there was a small bearish divergence forming. RSI dropping while the price of BTC rose. This is inconsistent and therefore falls under the divergence category. I dont expect it to cause a huge drop or anything. At least not on its own. Sometimes a divergence is lackluster at best. Other times it can be the catalyst to a big dump. We have a big 2000 dollar + gap below us from last weekend and in order to fill that gap we need to drop to around 23500. Imagine being a noob in Bitcoin that just joined during this pump. They may see a drop to 23500 as bearish. LOL. But when you spent nearly 3 years below 20k anything above 20k is a beautiful site. I see my trading set up is finally beginning to catch up to the candles. I love and hate this. You see when these indicators I use on the regular (50 MA 200 MA and the cloud) are far below that is usually bullish as the candles rose so fast it left moving averages and the cloud far behind. The 4hr time frame shows us pretty much caught up to the candles (maybe not the 200 MA) But the daily has been pretty far above my trading set up. It still is which is one reason I have avoided analyzing it as much as say the 4hr. But even the daily time frame shows my trading set up catching up to the candles. Its been a long time coming. Lets look at the bigger picture. The 4hr time frame and the daily and weekly shows us all the same thing. We are above the key indicators I use to determine bullish vs bearish. The 50 MA and the 200 MA along with the cloud are all below us on these major time frames and as long as that remains the case I am still bullish. We have over 50 billion USD in 24 hour volume over the past 24 hours. The market cap for the King is over 500 billion dollars. That is goldman sachs money folks. All in a decentralized system with no centralized entity calling the shots. You see certain alts that shall remain nameless have centralized figure heads that can call the shots. Its a degree of centralization that some find helpful. I mean one person calling the shots sounds good in theory. Perhaps consensus can be reached faster if a centralized figure calls the shots. But that is what makes Bitcoin so unique. I guess what I am trying to get at is XRP is being sued by SEC. Someone told me Bitcoin was next. LOL. Who will the SEC go after? Satoshi? Good luck with that. No centralized figure would make it nearly impossible for the SEC to approach Bitcoin in any legal manner. Alts flew after Bitcoin relented back in 2017. As soon as we reached 20k 3 years ago we saw a decline in the price of BTC within a day or so. That money flowed into alts triggering what is widely known as "Alt Season". I have my eyes on Bitcoin like always but alts too. Although there is no guarantee that alts perform like 2017 but I am still watching. I remember back when I first got into Bitcoin, XRP was the big deal in alts. I mean I remember co workers coming up to me saying XRP broke 1 dollar. Than 2 dollars. Than 3 dollars. It was parabolic. I believe a lot of this XRP pump detracted from the BTC pop. It stifled the run IMO. This go round XRP got almost no love. In fact it was quite the opposite this go round. The alts listed below Bitcoin (or most of them) have been pretty boring. Alts were the hot topic back in 2017-2018. Back then we didnt have the halving directly at our backs. This pump we do. So there is a difference. I will be watching. If money starts flowing from BTC watch for alts to pop. No guarantees but that money is going to flow into somewhere. Either into alts or into bank accounts and now that people (US) are surely getting their stimulus the money may not flow as fast from BTC. But time will surely tell if that is the case. In the mean time please be smart with your investments my friends. Learn to manage risk properly. Lets end 2020 on a high note folks! And remember WTFDIK??? TLDR: New ATH 28,600 USD. Still above my set up on the major time frames. Higher high created over night. If we lose the 4hr 50 MA look out below (IMO)
by UnknownUnicorn4304403
Bitcoin 1 week outlook 12-29-2020Good morning again ladies and gentlemen and welcome back to my daily look into the best investment since Enron!!! Bitcoin! LOL. But seriously I saw a gold PS5 online this a.m. and Im pretty sure someone reading this bought the gold PS5 (nearly 1 million USD) with your profit. Just step up and admit it. As we all browse Lambos online I am curious to see if we can keep our heads out of the trenches at least til the 2nd of January. 4th of January would be even better as that is the real beginning of the year thanks to everyone taking new years off and new years day as well. So lets take a look at the charts this morning. I decided to take a zoomed out look at the charts. Its nice to do this occasionally even if it doesnt really give you the best info as far as short term pricing we can still walk away with plenty from this weekly chart. Look at the current pump. Its parabolic. Do I love seeing a straight up bull push to the heavens? Oh hell ya! But am I dumb enough to play with fire at these levels? Not so much. Even if we were to break 30k RSI on the weekly time frame is higher than its ever been on a Binance chart. The last time we got to 90+ on the weekly RSI we ultimately saw a 50% drop or even more if you look a bit further down the chart. 2017 was a different rodeo back then. It was my first jump into investing and I caught the pump around 8500 all the way to 20k. We lost a lot of ground really fast. Within weeks people were saying BTC is dead and it was all over. Alts were significantly stronger and the dominance alts held was much higher. Now Bitcoin is ruling the roost as far as dominance. At nearly 70% Bitcoin is remarkably higher than It was in 2018. In fact we dropped to 1/2 where we are now. 35%. Which meant alts controlled 65% of the market as a whole early on in 2018. But as time progressed dominance returned to Bitcoin and now we are back at 70%. Just like we were last ATH back in 2017. I know people are watching for alts to jump and keeping an eye on dominance is a key to this equation if you ask me. This break out was largely fueled by a huge dip back in March where we had some huge buys and volume spiked. People like to buy that dip and that started out trek up the charts. From 3800 we made it to a 2.5 year trend line. After being rejected from it 3 times over the last 2.5 years we finally burst through it at around 10k. Breaking this resistance was key to the bull run. Once we broke it the evidence is clear on the charts. We went parabolic pretty soon after that. I didnt even mention the halving that happened in May of this year. Also another reason for the bullish chart action. It takes months before a halving pump shows its face and this is the 3rd real time that we have seen this happen. I think its safe to say the halvings are pretty reliable. As long as you are patient. Not to mention institutional buyers are getting into the mix. Paypal offering Bitcoin has been a huge deal for the cryptocurrency. We are seeing the results of the perfect storm and after 3 years of getting nowhere near 20k we beat it with relative ease this bulls run. If we do start losing ground the 4hr 50 MA is my first line in the sand. Its been reliable as support over the course of this run only failing a few times . We are currently sitting above the support so until that changes I will remain optimistic. I still dont have the guts to bet against the bulls. But I must remind you there is a big nearly 2000 dollar gap below us. Losing 2k would still leave us above 24k but when people see a drop like that it could trigger a domino knee jerk reaction where fomo is reversed and people wanna sell before they lose all their profit. That is what a stop loss is for folks. Thats why I recommend it. Even if its at 15k. Ive seen Bitcoin lose 50% in hours. Im not saying that it is certainly bound to happen this go round but I wouldnt ignore history. What goes up normally comes down. Stimulus was approved so lets see how Bitcoin takes the news. Right now its 600 USD per citizen (US) but they are fighting for much more. With that in mind I imagine many o USD will be printed or simply created out of thin air. This could fuel Bitcoins rise as inflation of the underlying base currency Bitcoin is naturally compared against makes Bitcoin more valuable as a rule vs the USD which has not 21 million coin limit Im afraid. That is the reason they took us off the gold standard after all. It makes it easier to inflate that USD. Bitcoin has a super bright future. 500 billion dollar market cap. Nothing to shake a stick at folks. I hope you all have a great day and I hope a look at the weekly makes you as proud as I am for sticking it out throughout all those bear months. Make good choices and always remember... WTFDIK?? TLDR: Year is almost over. Bulls are still in charge but Im watching for the bears. I can smell em.
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-28-2020Good morning again ladies and gentlemen and welcome back to my look into the exciting world we know as Bitcoin. We have officially entered Mars' orbit and ground control says all systems go! But seriously. 28400? We had a strong weekly candle once again after yesterdays close and things still look pretty good considering. I still have that feeling the bears will hit back. I will discuss my thoughts in this analysis. So lets get to it. Stimulus is a go. 600 USD per American (many Americans) to the tune of hundreds of billions of dollars. Not to mention they needed even more money for the various nefarious items out politicians desire so much. But I do have good news! As they print the USD into oblivion it will certainly work in Bitcoins favor. I cant rule out the idea that much of this pump has not been so much artificial, but rather fueled by inflation (along with other factors of course) and if they keep pulling USD out of a hat so to speak it will make the price of Bitcoin increase IMO. Does that mean no more dips? No... The bears will still take us down. But inflation of the USD will only strengthen BTC in my opinion. Okay let me jump down off my soap box and discuss the charts. I threw an ascending support onto the chart. It is obvious that it has been acting as support and resistance over the past few days. I also see when we dipped below the ascending support the 4hr 50 MA was what was holding us up. As long as we remain on top of the ascending trendline I drew I am not convinced the pump is done. If we do lose it I would have my stop loss below that 4hr 50 MA because I have a feeling if we lose the 4hr 50 MA we may lose some serious ground. But these are all hypotheticals at this point. Right now we are still sitting above 7k and above both levels of support so Im optimistic for sure. One thing I want to bring up is the fact there is quite a large gap below us. From 23750 - 26500. These gaps tend to fill rather quickly upon showing up on Monday but this one has yet to have an effect. The bullish market could just be too much for the bears to mess with or perhaps the stimulus news is slowing the cash outs. I assumed many would cash out to get tax money to cover their dues come tax day 2021. Its just a part of investing. But if people are about to receive 600 per dependent and per each parent they may not need to worry about cashing out their bullish BTC in order to meet tax obligations. Or maybe people just want to wait til the last possible minute to make sure they dont miss any pump? A multitude of possibilities. Time will tell if this bullish market will roll into 2021... 2020 has been one wild and crazy ride where people thought Bitcoin was going to crash and burn after the dump on March 13th of this year. But since then we have 7x + in around 9 months. That is incredible. Is the fun over? Maybe. But even if it were to come crashing down I had a blast watching this surge. The one thing Im confident of is Bitcoin is not done. It will rise even more. Even if we lose 50% today. We will see 6 figure Bitcoin eventually. Its a matter of time in my opinion. The fundamentals of the USD and BTC dictate that BTC should rise in value due to its limited nature. That is what attracted me to Bitcoin in the first place. I hope you all have a great week. I will be watching the charts closely. Please make good smart choices folks. And always remember... WTFDIK?? TLDR: Still bullish but I have a stop loss set for sure. Big gap below us From 23750 - 26500. So be careful and set that stop.
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-27-2020Good morning again ladies and gentlemen and welcome back to my daily look into the biggest financial system on the planet, Bitcoin. Did I mention its decentralized? Pretty cool when you think about it. The bulls have been on a tear this week and even well into the weekend things still seem pretty strong considering. But as the year comes to a close will the bears take their chance to strike back? Lets take a look at what is going on right now. I see on the 4hr time frame there was recently a bearish doji. You see when a doji like that forms at the top of an uptrend it can signal a reversal. Should you exit your position based on a single doji? Maybe not. But I think setting a stop loss is a great idea as an alternative. Its all about risk management and traders that ignore risk management are the ones that normally end up rekt. The bearish doji may take us down a bit but there is no guarantee that this will occur. I will go out on a limb to claim more often than not dojis like this tend to result in a red candle. Seeing as how this is the 4hr time frame the drop shouldnt be too significant. Perhaps a drop to former support levels which I tried my very best to identify for you guys and gals on the chart. This pump makes TA difficult and that is okay by me. As long as Im raking in profit Im good! There has been some crazy pump action over the week and into the weekend. But as Monday approaches I wonder how big that gap will be? From taking a quick look at the cme chart the gaps bottom should be around 23685. Meaning we have a real chance of a drop come Monday. There is not a guarantee of this. Gaps dont always need to fill the first day but in my experience that does happen more often than not. We may not fill any gaps til after the 1st. Something tells me this pump isnt going to last forever... Call it intuition or call it clairvoyance or experience. I dont care. But we should all expect a drop in the coming week or 2. Worst case scenario we dump. Best case scenario Im wrong. Im not asking anyone to exit positions. I am asking for you to exercise risk management and trade with caution at these levels folks. All in all 2020 has been a fantastic year for Bitcoin. The reason Im hesitant to say Bitcoin is definitely about to dump is they keep speaking of stimulus after stimulus in the US. That makes me think they will just ask the fed to print trillions. This will devalue the USD which could result in more pump. Not to mention the fact institutions are now buying it by the fistful. 28422 is this years ATH and even though I would love to see the bulls take us to the next level I am satisfied with the pump so far. But keep that stop loss set. The bears are sneaky. I hope you all have a great day. Make good choice my friends. And remember WTFDIK??? TLDR: Bearish doji on the 4hr. No real effect as of yet. Big gap below us. Could mean a bearish Monday. Time will tell!
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-26-2020Good morning again ladies and gentlemen and welcome to the 25k level. We are knocking resistance down left and right tearing our way up the charts. I said I would be satisfied if we made it to 25k but I must admit I am still pulling for the bulls! 25400 has been broken and that is the new ATH. Nicely done bulls! Lets take a look at what is going on with the charts this morning. We have been tearing up the chart. It is really nice to see but we all know that gains that stack like this rarely stick. Does that mean Im exiting my position this a.m.??? No way. But I am walking my stop loss up just to be safe. Locking in that profit is important. If you do not walk your stop loss up the dip may catch you by surprise. I cannot tell you for sure how this dip will materialize. But I can tell you what goes up must come down. With a little TA knowledge I see the break out from 2017 (from September 2017 - December 2017) We saw a rise from about 3k to 20k. That was a 17k increase. I used this info to gage the break out we are experiencing at this time. If we do get that high I would say 27750 would be near the top. Of course TA is not always cut and paste. So you should be prepared for a dump today. Prepare for the worst. Hope for the best. And lets hope the bears stay in hibernation. There isnt much I can grasp at these levels quite yet. Tomorrows analysis should be a bit more in depth I imagine. But the one thing I can say is Bitcoin doesnt seem to be done yet. We are kissing 25500 as I type this. And dont forget this is a Saturday so pumps like this were not really expected. Especially after a big holiday. I guess we all got a decent present this year. Thanks Satoshi! Will 25k stick? I sure hope so. The higher we climb on the chart the more likely a retrace will not take us down past 5 figures. I mean its totally possible but the bears will have to bring their A game to turn this bullishness around. I do think a dump of some sort is coming though. Maybe after the first of the year? With institutions buying in and the halving behind us along with a few other events this break out can be looked at as the perfect bullish storm. This makes me excited for the next halving which is over 3 years away. Will we break 6 figures after that? Before that? Citibank seems to think we will be at 310k BTC by end of 2021. And with all the money the US is printing I can see that becoming a reality. But only time will tell. Set a stop loss and enjoy this pump. We all deserve it. I hope you all have a great weekend. Enjoy those gains traders and long term investors! Make good choices and always remember WTFDIK?? TLDR: 25500... Need I say more?
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-25-2020Good morning again ladies and gentlemen and welcome back to my daily look into the charts of Bitcoin. Its Christmas and I guess we all got the gift of a new ATH today. Nicely done bulls! Nearly kissing 25k is something to be proud of and we should all pat ourselves on the back for putting up with the last 3 years. As we sit in uncharted territory can we break 25k and keep the momentum up through the end of the year? Lets take a look at the charts. As we cruise along above 24k I am encouraged. We have not spent a lot of time above the 15k level. At least not until now. Back in 2017 we spent literally hours at the ATH (19800) before seeing the bottom fall out less than a few weeks later. The bottom can still fall out folks. You need to be prepared for the worst while hoping for the best. With that in mind lets discuss support at this level. Okay the previous ATH a few days back was around 24350 or something close to that. Now we are above that at 24400. Which to me looks like former resistance is now support. We got rejected at the 24350 level, beat the resistance and now its support. The farther up the chart we climb the less likely the bears will take us down. At least below 20k. Its totally possible to see us drop and I expect a drop. But only time will tell how that will materialize. The bulls gave us all a good Xmas present and we should all be thankful. We are sitting on a new ATH and things still look surprisingly good on the major time frames. We are above the 50 MA and the 200 MA and the ichimoku cloud as well. All bullish! But I have that stop loss set just in case! You should set a stop loss as well. As much as I want to keep seeing the bulls tear up the chart I have that feeling the bears are waiting for the perfect time to strike. But its Xmas so enjoy your day and your new ATH folks! I didnt write as much as I usually do today. I have family over and we are doing the Xmas thang. I just sneaked away to type this up real fast. Someone posted we broke 25k this a.m. so I jumped on as soon as I could lol. We didnt quite break 25k on Binance but I still like what I see. Have a great Xmas everyone and make good choices my friends! And always remember... WTFDIK??? TLDR: I dont care what your mama says... Xmas time is here..... I dont care what your daddy says.. Xmas is full of cheer!!!
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-24-2020Good morning again ladies and gentlemen and welcome back to my daily look into the exciting world of Bitcoin. Today I have the 4hr time frame pulled up and I see consolidation has taken hold. The bulls have taken us to new heights this year and I for one am quite impressed. But nothing goes up forever and a retrace should be on all of our minds. Even if it doesnt happen and we keep going up, being prepared is never a bad thing. Stop losses are a good way to do just that. We have 1 more week in 2020 and we are holding onto 20k with all our strength. But will it last through 2021? Lets take a look at the charts this morning. We have been cruising right along in the 23300 since I analyzed the chart yesterday. Bitcoin is soaring high and the gains have already stuck better than those of 2017. Meaning we have spent around a week above 20k vs back in 2017 where we spent a few hours at ATH levels. But this time it seems different with the lead up to this bull run. 2017 had no halving. 2017 had almost 0 institutional interest in Bitcoin. 2017 had no 2.5 year trend break to kick start the bull run. 2017 was different. BTC dominance was lower in 2017 as alts were hot back then. Now more attention is directed at Bitcoin. The differences between 2017 and 2020 are apparent, no doubt about that. But will it equate to gains that stick? The 4hr 50 MA has been a friend for most of the bull run. Barring a few times where we dipped below the indicator (orange line on the chart) we have spent the majority of the run above the support bouncing off of it numerous times. In runs like this I look for indicators that have reliable data like this. I can make trades off the bounces. Its not rocket science. Just common sense. Being able to identify trends and patterns early will equate to more profit. We are really testing that 4hr 50 MA at the moment so make sure you have a stop loss set. With all that is going on in the world many external factors have become an issue with the recent movement of Bitcoin. The stimulus that is still in the works will likely effect the price of Bitcoin along with the pandemic etc. Its just a crazy time politically and economically. Nothing any of us can really do except ride it out I suppose. Just look at it like this. The stimulus will likely result in massive money creation. This should make BTC rise in terms of US dollars. Bitcoin's own volatility could certainly outpace the effect of inflation but something has to give. When you print trillions of US dollars in such a short time inflation hits. So technically BTC is not going up in value. But rather the US dollar is losing value. Im sticking with my plan. Stop loss set and if we go up I will move that stop loss up. If we drop Im out. Reentry later. Speculation is fun but ultimately it may not be as helpful as we hope. Bitcoin is going to go up and down. Nothing we can do about that. What we can do is make money off the dips and rises. That is what we are here for anyways right?? Even if you hold long term you are basically a trader too. You just take 1 - 5 years to close trades lol. Nothing wrong with long term investments. I do both trading and long term. I really like taking advantage of BTC when it drops to sub 5k. I like to put any BTC I buy at those levels into my cold storage and let it sit. It makes me feel good knowing I bought at those levels and am up quite a bit. There was a bit of fud with a certain alt that has been hogging attention as of late. I hope the bad news does blow over soon. Not because I am a huge alt coin fan but because its crypto. Even XRP. When outsiders see issues like this it may or may not shed a bad light on BTC. I hope this SEC stuff blows over soon. For everyones sake. We are all in this together. Like football teams so to speak. We may poke fun at the other teams but at the end of the day we all play the same game and should have a certain amount of respect for one another. I hope you all have a great day. Lets crush 25k before New years folks! LOL. Please make good choices! And never forget. WTFDIK??? TLDR: Consolidation. -------> plenty of support below us. Things look good for now. If we can stay above the 4hr 50 MA I think that will be bullish. If not we will see what happens
by UnknownUnicorn4304403
Bitcoin (BTCUSD) Trend based on FractalFor the same fractal previously my analysis went wrong, because this wasn't a perfect match. But the current chart shows perfect matching of fractal from the month of May- July matching with mid Nov -present. I my previous post I also mentioned that BTC is bullish so their is a possibility of failure of analysis and that actually happened. In the current condition also such possibility exits but to lighter side. Since BTC has crossed it's ATH so their is a lot possibility that most big,smart investors had sold their coins. which decreases the chances of increase in price. Also in previous bull run of 2014 to 2018 around ATH of 2014 BTC had a huge correction. So considering all the above factors I believe opening short positions are safer than long positions. Also booking some profits and waiting for good buy around support levels is better.
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by Parth_agrawal