YELP Bearish triangleYELP is displaying a bearish triangle pattern, which will lead to downsides. However rising MACD is contradictory to this analysis and suggests that momentum is moving upwards. Time will tell what we see from this.
Contradicting
A "Dickline," confusion, and contradictory press,MoneylaunderingI hope this is a gaffe or joke: the headline in the queue reads "Bitcoin undervalued by 34k according to infamous Dickline." If not, that's the intelligence we are dealing with in the crypto press. I have gotten used to it.
Joking aside, in the circles appears to be a death cross followed by a golden cross?? I'm learning as I go so please feel free to help me out here.
Bitcoin lingers in a place of little demand, and little desire to sell seemingly, and when it does rise and fall it continues to drag the market along for the ride.
It also seems that the press is including the "kimchi premium" in their price reporting. It notes that Litecoin pierced 52.00 usd and was rejected. Not on Bitstamp it didn't , but I won't keep digging Bitstamp for their lag. Oddly, Coinbase pro with their middleman approach IS outperforming Bitstamp at nearly every turn, aside from a 47.57 usd Litecoin buy opportunity I missed while I went out to get groceries. Two fridays in a row now. My dumb luck, and planning. Of course, a precipitation in the price of Bitcoin coincided.
Analysts are making a confusing mess of things - on one hand we are told BTC will bottom out in 2q 2019 , on another that a surge to 4250 usd can be expected if the psychological barrier of 4k can be broken. Personally, I don't want to buy at 3950.00 , but maybe I have become gunshy. I did change my name to Cryptocautious after all.
Ethereum alone seems least affected by BTC slips and dips, with some traders claiming it will lead us out of the bear market.
I predicted in an earlier article that BTC will face a selloff on Sunday if 4k is NOT broken. I still believe that.
Other metrics have become very confusing, and to some degree less reliable than before. The market is not cycling the way it has for the past few months.
By the way , I am NOT A FINANCIAL ADVISER ; and remain absolutely confused by this baffling market, and frustrated that I missed the surge last Friday.
This is more of an editorial than anything else.
Advice is more than welcome. In the mean, I'm on the sidelines unless I see another dip like earlier today. Even the reckless crypto press is advising a tight stop loss, but also accumulation during the dips, which while it might be wise, isn't going to push prices higher.
Maybe Craig Wright will. He usually appears, as he did recently , either before a disaster or a boom. Let's hope it is a boom.
Something tells me though, that prices will be manipulated downward due to increased institutional interest , poor regulation, and a desire for a pleasant onramp for the whales of industry.
Good luck out there.
Fortis fortuna adiuvat - Fortune favors the brave - if some money launderer - or idiot, depending on context, spent more than 500,000 usd to send 14 usd in Ethereum, anything can happen. Maybe some deep pockets can push BTC out of the deep end of the pool and we will see a real recovery happen. That ETH transfer reportedly was one of the quickest in History ;) .
