BitcoinLong
BTC February Forecast
Updated
Last year was hard. So hard in fact that I took a break until I "knew" there was a bottom. I happened to spend the last year working on machine learning and centered on financial analysis for the obvious benefits. After the "BSV Dip" of November 2018 I began looking for an entry space. As anyone in the TV cryptocurrency chat knows I've been bullish on BTC since I called a bottom on December 15th. As I write this (2/5/19) I call a new bottom above $3422 if we can hold it we will ride the crypto-rollercoaster back above $3500.
Why aren't we mooning if this is the bottom?
Blindness. This market is plagued by investors who do not fully understand or believe in what they trade, combine that with institutional masters of finance directly threatened by this economy, and you have "Crypto Winter".
Money needs to make money for money makers. The profits from shorting BTC throughout 2018 were unequal to those accumulated in 2016-17.
I believe that many trade desks on The Street are losing their asses as we move into 2019. In January, Merrill Lynch told all desk to stay away from BTC and crypto assets. To gain a clearer picture of where this space is we have to look to Asia, Africa, and Eastern Europe.
The levels are on the chart. The ranges have held up so far. I'll add to this throughout the month with links to related content.
Why aren't we mooning if this is the bottom?
Blindness. This market is plagued by investors who do not fully understand or believe in what they trade, combine that with institutional masters of finance directly threatened by this economy, and you have "Crypto Winter".
Money needs to make money for money makers. The profits from shorting BTC throughout 2018 were unequal to those accumulated in 2016-17.
I believe that many trade desks on The Street are losing their asses as we move into 2019. In January, Merrill Lynch told all desk to stay away from BTC and crypto assets. To gain a clearer picture of where this space is we have to look to Asia, Africa, and Eastern Europe.
The levels are on the chart. The ranges have held up so far. I'll add to this throughout the month with links to related content.
Note
We dipped through that support right after I published my first idea. Guessed that’s why I keep my ideas to myself. We are in 5(3 $3300’s as I make this comment.Trade closed: target reached
We ate bear meat this week. Nummy! All goals reached in 48 hours.Trade active
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.