SHORT- (short term only, still LONG term BULLish on BTC)
-Looks like top has formed
-BEARish Stoch
-BEARish RSI
-BEARish MACD
-MACD Bear cross
-every time price action hits the downtrend line on 1 hour time frame, looks like organized sell off. Walking the price down.
LONG term I think BTC will be worth >$500K in our lifetime.
LONG TERM BTC is currently in a very strong uptrend and will remain in an "UPTREND" as long as remains above $8000ish.
Short term Fundamentals of BTC are flawed. A lot of controversy surrounding Block Stream, Segwit 2x, and big banks controlling the whole thing. Do your own research- scared me!
I switched some funds over to BCC. Not picking sides, just trying to make some money. (But if I was forced to pick a side, currently it would be Bitcoin Cash)
I am not trading this- Just publishing this idea for my personal education.
Good luck my friends
-Looks like top has formed
-BEARish Stoch
-BEARish RSI
-BEARish MACD
-MACD Bear cross
-every time price action hits the downtrend line on 1 hour time frame, looks like organized sell off. Walking the price down.
LONG term I think BTC will be worth >$500K in our lifetime.
LONG TERM BTC is currently in a very strong uptrend and will remain in an "UPTREND" as long as remains above $8000ish.
Short term Fundamentals of BTC are flawed. A lot of controversy surrounding Block Stream, Segwit 2x, and big banks controlling the whole thing. Do your own research- scared me!
I switched some funds over to BCC. Not picking sides, just trying to make some money. (But if I was forced to pick a side, currently it would be Bitcoin Cash)
I am not trading this- Just publishing this idea for my personal education.
Good luck my friends
Note
Note
PS- I hope I'm wrong.PPS- who is left to buy right now?
Buying is the only thing that will drive the price up. Supply and Demand.
Smart money bought in long along, dumb money bought in recently.
Who will buy now?
Institutions and traders- I am a trader and I am staying away- I would bet I'm not the only one.
Note
Most of the time support and resistance takes 3 touches to break down. 4 is not uncommon. Think of it like an army approaching a strong hold. Each advance that fails weakness the strong hold. Eventually the advancing army will occupy the strong and turn it into their base. The is called "reversal of polarity". Resistance becomes support.
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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.