I have started focusing on macrotrends and drawing ideas for the same. Being open-minded and not having to choose between bear and bullish cycles, I think its safe to ride the roller coaster ride with good risk management.
Bitcoin is facing resistance from 20days ema, tried several times but failed . First around last of Nov 21 ,then 25-26 dec ,mid jan 22 ,and now start of feb
Bitcoin downfall started do not risk any investment now btc support 39k usdt then bull run started in daily chart frame
Bitcoin has just been rejected from its one of the major support zone on 4th dec. now it’s at a major resistance. We can wait for the breakout if resistance.
The top-down analysis of BTC/INR according to price action. Don't Put maximum reward on this short. Try 1:2 or 1:3 reward ratio.
Heikin Ashi Candle - 1st Fib Retracement level. BTC/INR - Heikin Ashi pattern bullish reversal at around 21,30,000 levels. Roughly 26,900 BTC/USD If broken next support at 19,40,000 (23,850 USD)
3yr Constant Weekly Purchase Average Price. Average price of someone doing constant weekly purchase for last 3 years(156 weeks) is Rs 108,000. Market Price Rs 3,90,000.
2yr Constant Weekly Purchase Average Price. Even if someone kept buying Bitcoin in equal Rupee amount during the 2017 vertical rally(last 2years i.e. 104 weeks non stop constant purchase), he would still be in profit
BTCINR above 52wk average constant purchase price. Someone putting in Rs 1000 per week in Bitcoin for last 52 weeks(one year) would be in profit right now even in bearish market. Historically, Bitcoin has spent 80% of time above the 52-week weekly constant purchase price.
Trading was volatile and bitcoin was about 11 percent higher near $7,680 as of 9:36 a.m.The sudden jump forced traders who had bet against the cryptocurrency to buy back into the market. "Once bitcoin broke higher, shorts were squeezed and forced to cover," said Brian Kelly, CNBC contributor and head of BKCM, which runs a digital assets strategy for...