BTCUSD is going to $5000! Or maybe $500. Or maybe... neither?
Okay, let's admit it. There is a real push here on TradingView to want to be the first to call the big break up. Or the big break down. Or the new pattern. Or whatever. Nothing to do about that. It's the way the world works in our hyper-competitive, short attention span reality. However, consider this:
Scroll through the BTCUSD ideas published in the last week or so. Is it going up? Down? We are getting both predictions to the moon, or total bottoming out. And everyone has charts to show WHY they think that way.
Here's an idea... Range trading. There is too much going on, too much muddying the water. Between the fork and the bubble and the news and the banks and whatever else the latest sideways motion has been blamed on, maybe it's just that we're... going sideways. While the market figures it out.
I have no idea WHAT this currency is going to do exactly. I have written comments to the effect that I think most of the influences on it right now are negative, and that holds true. I expect it ultimately to get worse before it gets better. But, for right now, let's just realize what the performance and all the conflicting ideas are telling us. We're in a pause, a consolidation, while the market figured out just what the heck it's going to do with BTC. It will, at some point, and then I think we'll start seeing the ideas being published agreeing with each other a bit more. There's your metric. :)
Happy trading!
Scroll through the BTCUSD ideas published in the last week or so. Is it going up? Down? We are getting both predictions to the moon, or total bottoming out. And everyone has charts to show WHY they think that way.
Here's an idea... Range trading. There is too much going on, too much muddying the water. Between the fork and the bubble and the news and the banks and whatever else the latest sideways motion has been blamed on, maybe it's just that we're... going sideways. While the market figures it out.
I have no idea WHAT this currency is going to do exactly. I have written comments to the effect that I think most of the influences on it right now are negative, and that holds true. I expect it ultimately to get worse before it gets better. But, for right now, let's just realize what the performance and all the conflicting ideas are telling us. We're in a pause, a consolidation, while the market figured out just what the heck it's going to do with BTC. It will, at some point, and then I think we'll start seeing the ideas being published agreeing with each other a bit more. There's your metric. :)
Happy trading!
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