Nifty to crashNifty seems to crash in coming days are we near the inflation from now !! Seems like some big move in the market in coming days be ready !! Pack the bags or Pack your bags !!! 16800 shall be major support
Sense
Common senseEvery time Trump and Pelosi flirt with this next round of stimulus the market goes up. Hasn't it already priced in the stimulus like every day it went up since stimulus talks began?
On the downside, you have these risk factors:
1. Chinese news saying China is going to ready to take Taiwan. That would put the US alliance system into question if we didn't go to war.
2. US election - stage is set for a contested election
3. Stimulus bill passing the Senate while the senate is fighting over the Supreme court nominee. For that matter, will it even pass the house?
4. No deal Brexit - time is up next Thursday
5. Covid-19 resurgence in Canada, Europe, and norther US states
6. Slowing economic improvements
7. Record debt held by individuals, corporations, and federal government
8. 3Q 2020 earnings trickling out and massive credit warnings and downgrades ahead
Alright, bulls. Let's hear it...
Voice of reason? Common sense? Where are you? IDEA to ponder.BTC to tumble, but it's going to be okay. There are some very skilled and talented TA people out there...That being said, where is the money? Where's it going to come from? I think that's a very fair question. The laws of growth demand it. BTC cannot survive on day and swing traders only - recycling and swapping capital each and every day. Some make profit, some lose, but in all of this there's no big NEW MONEY. We need capital investment, which is smart money, which will only buy at brutally low prices. Until we hit a very enticing low sparking a significant influx of money, there's not going to be anything significant happening. To say BTC is going way up at this time is misguided because most market participants are now smart and experienced/burnt/skeptical enough to know that it would be quite suspicious without first a descension to the 365 day low which would be in the $2000s range. Even I don't accept that but we have to ask, then what will it take? That may be too low, perhaps Sep 2017 levels... The people are not "buying" it anymore. So, we may very well see 4k-3k before this beauty rises once again. That would be enticing for many. And just remember: Sept 16 2017 BTC @ $3700 and by Dec 16 2017 BTC @ $19,700 = 3 months. Just absorb that for a moment...
Just a thought
Not financial or psychological advice
First BULLISH Signs on BTC since EMA crossBTC has followed its first close above the 20EMA (Dark Blue) since the 20 EMA feel below the 50 ema in late May (Yellow Vertical Line). Its confirmed the BULLISH sign with a bounce and move up providing the first real BULLISH Technical sign in some time.
The bounce not only tests the moving average but the 6595 Horizontal level and this is important for two reasons. It’s a Real Bullish sign not the imagination of some trader stuck in a historical BTC trade he is desperate to get out of the level now gives us something concrete. For now I will say above 6595 we are Neutral (Not yet Bullish) and Below it we are Bearish. It’s a level we can watch and cut out all the Bullpoop that can confuse our sentiment.
For us to start and really believe in the move we need to be a bit patient. We need a test of the 50 ema and the 6927 level (Orange). We are likely to get a pullback from there and need a higher low and then a break and close above the level on a 4H or Daily chart. Then we can start and be Bulls again.
We must always remember this is a new BTC from the old days. People who thought they were trading genius are now stuck in positions brought at 15, 18 and even 20K. They are desperate to get out and those that can still find their wallets and PW will sell into any Rally. I expect progress up to be slower, but at least we see some signs of it. The low volume weekends have been a bastion for the Bears and the current stability is another great sign for us.
Remember to make money it takes DollarsNSense. Be patient, take the trades that make sense and not those that feel right. I will be with you for the journey now, Follow me to get proper Technical analysis based on Sense and not Hype.
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