BTCUSD: TO PANIC OR NOT TO PANIC - IS THE BIG QUESTION.
Updated
There was panic around high noon UK time, as news broke that the IRS will be sending warning letters to American cyrpto traders. This caused a dump on BTC and shockwaves were felt throughout most of the cryptosphere.
But hold on - the IRS does not rules the world! This dump could well make BTC and other major cryptos very attractive to international investors and traders.
I still favour the upside because BTCUSD is a hefty one following a massive 3D time frame. It has a lot of wriggle room between 7800 and 10000.
Those who dump now are falling into a classic bear trap? How? Because the probability is till for the north. This does not mean that a few bears on lower time frames won't punch the air and take profits. There is nothing wrong with exploiting a bear trap, just don't get caught in it!
Disclaimer: This is not a recommendation to take a particular position or trade in securities or other instruments. You losses are your own, which means sue yourself if you lose your money!
But hold on - the IRS does not rules the world! This dump could well make BTC and other major cryptos very attractive to international investors and traders.
I still favour the upside because BTCUSD is a hefty one following a massive 3D time frame. It has a lot of wriggle room between 7800 and 10000.
Those who dump now are falling into a classic bear trap? How? Because the probability is till for the north. This does not mean that a few bears on lower time frames won't punch the air and take profits. There is nothing wrong with exploiting a bear trap, just don't get caught in it!
Disclaimer: This is not a recommendation to take a particular position or trade in securities or other instruments. You losses are your own, which means sue yourself if you lose your money!
Note
Note
I have been watching pay walls for BTC and ETH intermittently today. The wall for the bulls is growing higher. This is a sign of bullish sentiment - but be careful - even if the bull pay wall is higher than the bear pay wall, it may not mean much. However, sentiment all day has been consistently bullish on orders. The bulls are basically soaking up a whole lot that's dumped by the bears.
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
Related publications
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.