Breaking news - China ban Bitcoin ! (Read carefully)
Updated
I mean ... coronaviruses (COVID-19) !!
Sorry for the missleading title ! I don´t want to FUD !
It just remind´s me the China ban bitcoin 2017/18 sentiment, price moovement and global fud & fear + missleading info spreading globally all over again.
But this time its stronger because of the global economy sentiment caused by Pandemic and global markets melting.
Wait it is China again right ?
3 months back before the Covid-19 news I remember the title in Forbes: New Report Shows China Dominates Bitcoin Mining, Is This a Sign of Worry?
2019 has been a relatively good year for miners, generating $5.4 billion in total revenue. But, according to the year-end report of CoinShares, one country has dominated bitcoin mining throughout the year more than any other.
The research paper entitled "The Bitcoin Mining Network", which explores trends, average creation costs, electricity consumption and sources in bitcoin mining, discovered that nearly 65 percent of bitcoin hashrate originates from China.
CHINA CHINA CHINA !!!
Bitcoin had a bearish moove 26.6% today !
That is as much vollatility as right after ATH when there was Max 28.76% moove and bears never had such strong moove past 2 years
In history when our kids will study about Blochcain and crypto vollatility this day will be set as: "Covid-19 Extreme Fear sentiment"
This whole 6.5K range down to 4K (if we ever get there which I doubt that we will see sub 5.5K which is MA200/W) Is huge buy opportunity in the long term perspective.
We actually stopped on the soft break zone where price oscilated for X months.
If it break then there is a HARD BREAK zone where cross below thise could lead close to the very strong 3-4K USD support range zone
X Reason why this is a good long term investment opporunity now in my view
1) The RSI on Daily is super low
2) Solid support range
3) Price is under mining expences allready (ad.1.)
4) Sentiment shows Extreme Fear (alternative.me/crypto/fear-and-greed-index/
5) Halving over the corner (May 2020)
6) Price still aboove MA200 on Weekly
7) 6K marked as strong support in the previous huge long entry opportunity idea for long term (ad.2).
In my opinion this whole moove is final shakedown before we break up from the mid/long term downtrend channel and I will personally keep adding portions of positions for long term everyday in this zone back up to 7K.
People are usually waiting for the dip to come but when it happends they are scared to buy and if they do
they panic sell a bit later because it "keeps dropping" and they are in hope to buy the real bottom & the emotions are taking over them.
Do not be emotional ! Use data, facts, technicals, fundamentals and be realist with proper risk money management, plan & goal.
If everything is really about to collaps, loasing Bitcoin or money won´t hurt me and if it reverses here I´m about to make it big. Its 50/50 or not ** Thiking sarcastic face **
Be also patient & expect the up and downs in the long run. Bulls can´t live withou bears and vice versa.
Cheers !
& IF YOU MAKE IT DOWN THE HERE ! READ EVEN MORE CAREFULLY !
LIKE for this chart will increase your charisma aura as well as immunity agains the COVID-19 ^^
-------------
Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
Sorry for the missleading title ! I don´t want to FUD !
It just remind´s me the China ban bitcoin 2017/18 sentiment, price moovement and global fud & fear + missleading info spreading globally all over again.
But this time its stronger because of the global economy sentiment caused by Pandemic and global markets melting.
Wait it is China again right ?
3 months back before the Covid-19 news I remember the title in Forbes: New Report Shows China Dominates Bitcoin Mining, Is This a Sign of Worry?
2019 has been a relatively good year for miners, generating $5.4 billion in total revenue. But, according to the year-end report of CoinShares, one country has dominated bitcoin mining throughout the year more than any other.
The research paper entitled "The Bitcoin Mining Network", which explores trends, average creation costs, electricity consumption and sources in bitcoin mining, discovered that nearly 65 percent of bitcoin hashrate originates from China.
CHINA CHINA CHINA !!!
Bitcoin had a bearish moove 26.6% today !
That is as much vollatility as right after ATH when there was Max 28.76% moove and bears never had such strong moove past 2 years
In history when our kids will study about Blochcain and crypto vollatility this day will be set as: "Covid-19 Extreme Fear sentiment"
This whole 6.5K range down to 4K (if we ever get there which I doubt that we will see sub 5.5K which is MA200/W) Is huge buy opportunity in the long term perspective.
We actually stopped on the soft break zone where price oscilated for X months.
If it break then there is a HARD BREAK zone where cross below thise could lead close to the very strong 3-4K USD support range zone
X Reason why this is a good long term investment opporunity now in my view
1) The RSI on Daily is super low
2) Solid support range
3) Price is under mining expences allready (ad.1.)
4) Sentiment shows Extreme Fear (alternative.me/crypto/fear-and-greed-index/
5) Halving over the corner (May 2020)
6) Price still aboove MA200 on Weekly
7) 6K marked as strong support in the previous huge long entry opportunity idea for long term (ad.2).
In my opinion this whole moove is final shakedown before we break up from the mid/long term downtrend channel and I will personally keep adding portions of positions for long term everyday in this zone back up to 7K.
People are usually waiting for the dip to come but when it happends they are scared to buy and if they do
they panic sell a bit later because it "keeps dropping" and they are in hope to buy the real bottom & the emotions are taking over them.
Do not be emotional ! Use data, facts, technicals, fundamentals and be realist with proper risk money management, plan & goal.
If everything is really about to collaps, loasing Bitcoin or money won´t hurt me and if it reverses here I´m about to make it big. Its 50/50 or not ** Thiking sarcastic face **
Be also patient & expect the up and downs in the long run. Bulls can´t live withou bears and vice versa.
Cheers !
& IF YOU MAKE IT DOWN THE HERE ! READ EVEN MORE CAREFULLY !
LIKE for this chart will increase your charisma aura as well as immunity agains the COVID-19 ^^
-------------
Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
Note
Just to add a bit more juice. This is my personall expectation of Stocks market back from 2018 & This is how it played out
Mar 2018 I also posted about Stocks & BTC to become cointegrated trend before the halvening and start of new bull run as well.
I admit it didn´t played exactly as expected but here we are month before the halving and the prices are cointegrated.
Note
The stocks crash didn´t come out of nowhere it was much awaited Note
Note
The vollatility in BTC.D might indicates to me that cheap BTC is accumulated to buy more altcoins ! Note
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