Hello Wonderful and beautiful person!
Just came back from summer holiday, and for a while there it seemed like BTC was at holiday as well, but we got some massive response these last couple of days (7 days).
- Market cap increased by billions
- BTC market dominance fell by a couple of percent
- Enormous influx of interest and investment in alt coins.
- Large companies finally release their financial reports which confirmed my suspicion.
- Unemployment rate are very high in U.S and Europe.
- Precious Metals had major uprising.
Those of you who have read my previous posts (thank you very much), know that I was not convinced we were in a recovery but rather we saw a "dead cat bounce" (not a V-shaped recovery).
September was the month I kinda prophetised, in a Nostradamus kinda way, that we would see more or less the real effect on most of the markets. That month is still on the table for my part and has not changed, but we seeing more and more the real story now.
---- On the side note, Europe has opened up their borders in desperate act to make business flourish, and they are already reporting a large increase in Covid cases. Second wave is also still on the table ----
How will all this impact BTC?
well, I believe we will see a dip like we did on the "fire-sale" of Mars-April (investors will liquidate), and then we will see the anticipating massive increase in demand for precious metal and btc.
For my part, this increase we see now came unsuspected and it does not seem to hold its momentum.
- The RSI is not being convincing that this uprising has support.
- CCI has actually downward move, and in divergence with price action.
- Stochastic also are showing little momentum like RSI, but also in divergence like CCI.
- Price action is very contested as pointed out with the blue arrows.
- Volume does not support anyway near the new highs we have now
So, to sum up:
be careful and do not FOMO, as this could be short lived price increase.
USA are again turning on their printing machine and Europe have approved financial aid to all EU countries, which WILL impact the market; but not sure how.
Precious metal, especially gold and silver are artificially held lower than the demand with Future market. Physical gold and silver are not easy to get, and new mines are not being started yet.
Just came back from summer holiday, and for a while there it seemed like BTC was at holiday as well, but we got some massive response these last couple of days (7 days).
- Market cap increased by billions
- BTC market dominance fell by a couple of percent
- Enormous influx of interest and investment in alt coins.
- Large companies finally release their financial reports which confirmed my suspicion.
- Unemployment rate are very high in U.S and Europe.
- Precious Metals had major uprising.
Those of you who have read my previous posts (thank you very much), know that I was not convinced we were in a recovery but rather we saw a "dead cat bounce" (not a V-shaped recovery).
September was the month I kinda prophetised, in a Nostradamus kinda way, that we would see more or less the real effect on most of the markets. That month is still on the table for my part and has not changed, but we seeing more and more the real story now.
---- On the side note, Europe has opened up their borders in desperate act to make business flourish, and they are already reporting a large increase in Covid cases. Second wave is also still on the table ----
How will all this impact BTC?
well, I believe we will see a dip like we did on the "fire-sale" of Mars-April (investors will liquidate), and then we will see the anticipating massive increase in demand for precious metal and btc.
For my part, this increase we see now came unsuspected and it does not seem to hold its momentum.
- The RSI is not being convincing that this uprising has support.
- CCI has actually downward move, and in divergence with price action.
- Stochastic also are showing little momentum like RSI, but also in divergence like CCI.
- Price action is very contested as pointed out with the blue arrows.
- Volume does not support anyway near the new highs we have now
So, to sum up:
be careful and do not FOMO, as this could be short lived price increase.
USA are again turning on their printing machine and Europe have approved financial aid to all EU countries, which WILL impact the market; but not sure how.
Precious metal, especially gold and silver are artificially held lower than the demand with Future market. Physical gold and silver are not easy to get, and new mines are not being started yet.
Happy hunting and stay safe!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Happy hunting and stay safe!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.