Long

Daily 4XSetUps - BTC1! It Was A Good Week

2024/10/19
Daily 4XSetUps - BTC1! It Was A Good Week
“based on the last closing price on friday: long BTC1! 4XSetUp”

The CME:BTC1! rose to its highest level in two weeks to start the week, as China's latest stimulus measures drew mixed reactions and fueled speculation that both traders and investors were more likely to invest in CME:BTC1! than could invest in Chinese stocks. This was reported by the “Bloomberg” news agency. As we have all seen, the Chinese government is trying to get its economy back on track, but a highly anticipated government press conference last weekend left it unclear how extensive the planned fiscal stimulus actually is. So over the course of the week, economists doubted whether it would be possible to stop the weak growth. The rally on the Chinese stock markets is now beginning to weaken.

Be that as it may - and regardless of China - the price action in CME:BTC1! seems like to absolutely worth buying! Last weekend I didn't dare - but this weekend I'm formulating a new long BTC1! 4XSetUp.

“If you’re not failing, you’re not pushing your limits, and if you’re not pushing your limits, you’re not maximizing your potential.”
Ray Dalio

The current price action in CME:BTC1! looks bullish. Not only because the last bearish GAP was confirmed in the calendar week that just ended! What? Yes, the 3 SMA trend lines (200, 100, 20) were also confirmed. What all together brings even me too to a BTC1! bull.

68785 USD - (2024/10/18) - last price action
63926 USD - (2024/10/18) - SMA 20 hl2
62777 USD - (2024/10/18) - SMA 100 hl2
62470 USD - (2024/08/02) - GAP Upper Trend Line
60764 USD - (2024/10/18) - SMA 200 hl2
59445 USD - (2024/08/05) - GAP Down Trend Line

In order to confirm the past calendar week, at least the high from July of this year 2024 should be aimed for in the current calendar week. So that in the following calendar weeks, the high from June of this year 2024, from April of this year 2024, and/or from March from this year 2024 should also be targeted. Which is also the historical all-time high at USD 74415.

68785 USD - (2024/10/18) - last price action
70825 USD - (2024/07/29) - High Of July 2024
72660 USD - (2024/06/07) - High Of June 2024
73380 USD - (2024/04/08) - High Of April 2024
74415 USD - (2024/03/14) - High Of March 2024

Personally, I don't think much of Bitcoin or all of the cryptocurrencies. I feel the same way as Nouriel Roubini: “They are not currencies. They are not assets. I don't know what they're supposed to be. They are bubbles with no fundamental value. They are not backed by anything and therefore their fundamental value is zero. And considering the energy externality, if we impose a carbon tax, the value of Bitcoin will not be zero, but negative. If we taxed Bitcoin appropriately, the value would be negative.” If you will, I understand the trading and/or investing of CME:BTC1! like with basketball cards back then in high school. The value of which we also discussed among us boys back then up and/or down, in semantic exchanges, in whataboutism, just traded and invested.

With best wishes
and with good intentions!
Aaron

Another 48h - DXY ... is pure information material.
By trying to give you even more information about the TVC:DXY every day to make even better trading decisions (buy/sell or do nothing). The goal of each day is from my side that you say to yourself after reading my daily analysis (Another 48h - DXY ...): "I didn't notice that before!" Because then you have received new information; yes - maybe even learned something!? If, yes? Then give me a like - and continue reading tomorrow! Concrete 4XSetUps with entry price, target price and also stop price are available in the daily 4XSetUps...

Devise2Day

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