Not really much to say about Trump’s tweet.
Why would Trump speak positively about Bitcoin? It’s like why would the Fed speak positively about Bitcoin? It goes against their own currency, what they stand for.
So, Trump says what he is supposed to say and you should not expect anything different.
🔥But here is the most important thing: The president of the United States is tweeting about Bitcoin. This fact clearly indicates that Bitcoin has come very far.
Why would Trump speak positively about Bitcoin? It’s like why would the Fed speak positively about Bitcoin? It goes against their own currency, what they stand for.
So, Trump says what he is supposed to say and you should not expect anything different.
🔥But here is the most important thing: The president of the United States is tweeting about Bitcoin. This fact clearly indicates that Bitcoin has come very far.
Look at how our scenario perfectly played out! We reached 10.6-10.8k zone like we expected and even tried to overshoot it but didn't manage to get above 11k. After that we are having downside action like we said back then.
📍Important level to watch is 9.4k. If we lose it, that will result in a significant move to the downside.
📍Important level to watch is 9.4k. If we lose it, that will result in a significant move to the downside.
CME Futures are expiring tomorrow at 4:00 PM London time (3:00 PM UTC time)
Here is an important point: these are half-yearly Futures and they were opened on April 1, right before that $1k pump that kicked off the bull run.
Expecting high volatility around the expiration, beware of darth maul candles. Tomorrow can be a pivot point to the upside, but if not... and we break the 200-Day MA, this will get ugly.
Here is an important point: these are half-yearly Futures and they were opened on April 1, right before that $1k pump that kicked off the bull run.
Expecting high volatility around the expiration, beware of darth maul candles. Tomorrow can be a pivot point to the upside, but if not... and we break the 200-Day MA, this will get ugly.
#BTC
Keep an eye on this resistance cluster:
The price tried to break above the 200-Day MA & 200-Day EMA, but closed yesterday's candle below it.
Break above this cluster and we go significantly higher
Keep an eye on this resistance cluster:
The price tried to break above the 200-Day MA & 200-Day EMA, but closed yesterday's candle below it.
Break above this cluster and we go significantly higher
The massive Support Cluster we were talking about got broken today! We are now below the trendline, 50-Week EMA, strong horizontal level and high volume node on VPVR.
We have almost reached the next horizontal level at ~7350. Feels like we are gonna go lower.
We have almost reached the next horizontal level at ~7350. Feels like we are gonna go lower.
Long term investment tool: 2-Year MA Multiplier
Selling Bitcoin when price goes above the 2yr MA x 5 (red line) has been historically effective for taking profit
Buying Bitcoin when price drops below the 2yr MA (green line) has historically generated outsized returns
Looks like we are now in the buy zone. However, this chart does not tell you for how long we'll be there and how deep the buy zone is gonna be.
Selling Bitcoin when price goes above the 2yr MA x 5 (red line) has been historically effective for taking profit
Buying Bitcoin when price drops below the 2yr MA (green line) has historically generated outsized returns
Looks like we are now in the buy zone. However, this chart does not tell you for how long we'll be there and how deep the buy zone is gonna be.
Today's #BTC low is remarkable and has chances to be the ultimate low.
And here is why
📌First of all, today we've got an elegant wick just under the previous low, which liquidated a lot of longs. And look how strongly we rebounded after establishing a lower low.
📌Secondly, mid December is a pretty important time period. It may look like a conspiracy theory, but notice:
Dec. 17, 2017 - Bitcoin tops out at 19.7k
Dec. 15, 2018 - Bitcoin bottoms out at 3.1k
Dec. 18, 2019 - Bitcoin creates a lowest low after topping out at 13880 in June.
💡So, taking this information into account, today's low can be a pivot point for the market. However, here's what you should understand: once such a pattern is identified, it has less chance to keep playing out successfully. Just keep that in mind and treat this top/low sequence with a grain of salt.
And here is why
📌First of all, today we've got an elegant wick just under the previous low, which liquidated a lot of longs. And look how strongly we rebounded after establishing a lower low.
📌Secondly, mid December is a pretty important time period. It may look like a conspiracy theory, but notice:
Dec. 17, 2017 - Bitcoin tops out at 19.7k
Dec. 15, 2018 - Bitcoin bottoms out at 3.1k
Dec. 18, 2019 - Bitcoin creates a lowest low after topping out at 13880 in June.
💡So, taking this information into account, today's low can be a pivot point for the market. However, here's what you should understand: once such a pattern is identified, it has less chance to keep playing out successfully. Just keep that in mind and treat this top/low sequence with a grain of salt.
BTC update
Yesterday's pump took us all the way up to 7400 (significant area of resistance) and got rejected there by MA200. Notice how precise this move was. We exactly hit the MA and pulled back.
Furthermore, we didn’t manage to sustain the breakout above EMA100 and it rejected the price again, but we are holding the support that was regained in the result of the pump.
💡So, now the price is squeezed between the Support and EMA100. If we break EMA100 eventually, we'll have high chances to continue the move to the upside and reach the top of the downward channel (7800-8000).
Yesterday's pump took us all the way up to 7400 (significant area of resistance) and got rejected there by MA200. Notice how precise this move was. We exactly hit the MA and pulled back.
Furthermore, we didn’t manage to sustain the breakout above EMA100 and it rejected the price again, but we are holding the support that was regained in the result of the pump.
💡So, now the price is squeezed between the Support and EMA100. If we break EMA100 eventually, we'll have high chances to continue the move to the upside and reach the top of the downward channel (7800-8000).
BTC weekly chart
The weekly candle closed like a bullish hammer and the price even managed to close above MA50. EMA100 held the price and that long wick below it is pretty bullish. It looks like a reversal, but here is the thing:
Look at that poor volume of that weekly hammer candle. It’s not even close to what we had on the week of Nov. 25 when we established the ultimate low at that time.
💡This fact suggests that this can be nothing more than a relief rally within a downward channel.
📌What can prevent it from being a failed rally attempt is breaking above the top of the downward channel and obviously creating a higher high.
The weekly candle closed like a bullish hammer and the price even managed to close above MA50. EMA100 held the price and that long wick below it is pretty bullish. It looks like a reversal, but here is the thing:
Look at that poor volume of that weekly hammer candle. It’s not even close to what we had on the week of Nov. 25 when we established the ultimate low at that time.
💡This fact suggests that this can be nothing more than a relief rally within a downward channel.
📌What can prevent it from being a failed rally attempt is breaking above the top of the downward channel and obviously creating a higher high.
🎄With Christmas around the corner, it is time to engage in celebrations. May Santa Claus bring happiness, success and glory to you. May you and your family be blessed with a wonderful time and a great year ahead.
Merry Christmas! 🎅
Merry Christmas! 🎅
What a start of the year for Bitcoin!
Look at the hash rate. On the first day of 2020 BTC hash rate hit a new all-time high! That is impressive
Dec. 17, 2017: BTC price - $19.6k
Hash Rate - 14,630,524 TH/s
Jan. 1, 2020: BTC price - $7.2k
Hash Rate - 119,353,780 TH/s
💡The hash rate is incredible, because from the all-time high of 20k to today the hash rate is up more than by 700%. Could you think of anything more fundamentally bullish for BTC than the hash rate being 700% more than it was at BTC all-time high?
Look at the hash rate. On the first day of 2020 BTC hash rate hit a new all-time high! That is impressive
Dec. 17, 2017: BTC price - $19.6k
Hash Rate - 14,630,524 TH/s
Jan. 1, 2020: BTC price - $7.2k
Hash Rate - 119,353,780 TH/s
💡The hash rate is incredible, because from the all-time high of 20k to today the hash rate is up more than by 700%. Could you think of anything more fundamentally bullish for BTC than the hash rate being 700% more than it was at BTC all-time high?