Believe it or not: Bitcoin bulls have reason for optimism
Following up on the last forecast Bitcoin came down to the "Do or Die" support.
The gains from the bubble are erased but have not been completely reversed. Price did a hard bounce off the level and has managed to close above it once again. We have yet to establish a short term Ichimoku support or higher pivot to justify going long on Bitstamp charts but Bitfinex's second pivot low, being higher than the first, gives a hint of optimism.
Whereas before I was using Bitfinex charts I now am looking at both it and Bitstamp. Price action has always been at a slight difference between them but in this recent margin call flash crash and test of the support it has become more pronounced. I am leaning towards Bitstamp being a "more accurate" indicator of price action for two reasons: no margin exacerbation and Ichimoku Supports and Resistances tend to hold with more fidelity.
The gains from the bubble are erased but have not been completely reversed. Price did a hard bounce off the level and has managed to close above it once again. We have yet to establish a short term Ichimoku support or higher pivot to justify going long on Bitstamp charts but Bitfinex's second pivot low, being higher than the first, gives a hint of optimism.
Whereas before I was using Bitfinex charts I now am looking at both it and Bitstamp. Price action has always been at a slight difference between them but in this recent margin call flash crash and test of the support it has become more pronounced. I am leaning towards Bitstamp being a "more accurate" indicator of price action for two reasons: no margin exacerbation and Ichimoku Supports and Resistances tend to hold with more fidelity.
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Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
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