Bitcoin (BTC) back in Spotlight - Bigger Picture No One Sees
Updated
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NOW, LET'S TALK BITCOIN!
Why does no one seems to look at a bigger picture?
Here's what you need to know...
Correction is over or almost over. What does that mean? It means that if we break the 'rising triangle' then we should be in a clear for some time. If we don't break it in few days, then expect recovery process to take at least until end of February to complete. Either way, DO NOT INVEST IN BITCOIN RIGHT NOW. As we tell our members always, 'It's better to miss out on a profit, then lose a lot because you were impatient and couldn't wait until 'ALL CLEAR''.
Now let's talk Indicators!
MACD in short term doesn't look good, but that can always change. RSI is somewhat positive in short term with Momentum looking good. Volume is very positive as it has picked up!
Longer term, MACD is a buy, RSI is a BUY, Momentum is a BUY and we have a few other indicators which all signal to a rise in price. To clarify what is meant by 'long term' in this case, it means within a month, which is why we know that we are either at the end of coming to a sure end of this correction which started in January... over a month of filtering out the weak and here we are $400 BILLION DOLLARS less in market capture, tons of sell orders over prior weeks, panic selling and in all if you sold in loss or because an article from CNBC influenced you which was written by a person to hates computers, then I'm sorry to say that you guys played right into 'their' game.
P.S. For 4 years in a row we have been encountering almost exact corrections and drops in prices at nearly same time and when the 5th major correction comes in, mass panic erupts with people yelling that the whole crypto market is doomed. Haha, I hope the people who actually have been following me for quite some time, didn't do these mistakes!
NOTICE - WE ARE NOT YOUR FINANCIAL ADVISORS. NEVER INVEST WHAT YOU CANNOT AFFORD TO LOSE, BECAUSE THAT'S JUST IGNORANT.
IF YOU DO NOT FOLLOW US, YOU WILL NOT RECEIVE UPDATES ON THIS TRADE.
NOW, LET'S TALK BITCOIN!
Why does no one seems to look at a bigger picture?
Here's what you need to know...
Correction is over or almost over. What does that mean? It means that if we break the 'rising triangle' then we should be in a clear for some time. If we don't break it in few days, then expect recovery process to take at least until end of February to complete. Either way, DO NOT INVEST IN BITCOIN RIGHT NOW. As we tell our members always, 'It's better to miss out on a profit, then lose a lot because you were impatient and couldn't wait until 'ALL CLEAR''.
Now let's talk Indicators!
MACD in short term doesn't look good, but that can always change. RSI is somewhat positive in short term with Momentum looking good. Volume is very positive as it has picked up!
Longer term, MACD is a buy, RSI is a BUY, Momentum is a BUY and we have a few other indicators which all signal to a rise in price. To clarify what is meant by 'long term' in this case, it means within a month, which is why we know that we are either at the end of coming to a sure end of this correction which started in January... over a month of filtering out the weak and here we are $400 BILLION DOLLARS less in market capture, tons of sell orders over prior weeks, panic selling and in all if you sold in loss or because an article from CNBC influenced you which was written by a person to hates computers, then I'm sorry to say that you guys played right into 'their' game.
P.S. For 4 years in a row we have been encountering almost exact corrections and drops in prices at nearly same time and when the 5th major correction comes in, mass panic erupts with people yelling that the whole crypto market is doomed. Haha, I hope the people who actually have been following me for quite some time, didn't do these mistakes!
NOTICE - WE ARE NOT YOUR FINANCIAL ADVISORS. NEVER INVEST WHAT YOU CANNOT AFFORD TO LOSE, BECAUSE THAT'S JUST IGNORANT.
IF YOU DO NOT FOLLOW US, YOU WILL NOT RECEIVE UPDATES ON THIS TRADE.
Note
Cleaner Version of above chart
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Let me rephrase, since some have pointed it out. The bottom line is not a support line but what we call a 'rising support' line or 'trend line'Note
Short term price will drop below $9,000 most like - target is $8,650 if volumes drop tonightNote
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We are very close to trend line, very close. Hodl or get out.
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Positive RSI on Daily chart with MACD being in neutral positionNote
I will add that long term (1 month) indicators are all positive or neutral meaning that if Bitcoin is left alone to follow its natural course, we will see recovery soon.Note
We have over $25 Million buy order coming at $7,400 and over $40 Million at $7,000Note
A brief $6,500 area may be touched within 6-24 hoursNote
Short term price hike is possible as indicated by RSI, however not sure on how long it will last before we begin fall again
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From looking at chart, RSI is severely undersold and we should be having a jump off out trend line very soon. Drops are still possible - note that - do not invest too soon
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Don’t get too Excited, just yet
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NEW CHART NOW AVAILABLE
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As expected we are having a slight drop due to Overbought RSI
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