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BTCEUR trade ideas

Correction has come, but how large?Hello hello beautiful person! The divergence in RSI and other indicators have present for some time, but the FOMO in DEFI has been an amazing rally; combined with an above normal public awareness in internet and Televisions. We are seeing a correction now, but the question is: how strong, and is this the one I have been anticipating? T he chart The chart is in Heikin Ashi, NOT price candle RSI is showing divergence Stochastic is showing divergence CCI is also having divergence, but most importantly has not crossed to negative area (but in price candle chart it has) Nearest strong support is EURO 9526, which we will hit if the correction is of any noticeable strength. If it is not hit, I believe that the hype will continue until previously suggested month. Strongest support is area around EURO 8338 - 8000, which is a combined highest volume price level and previously tested support line. Conclusion There is too many moving parts in this economy now that is mixing with BTC, and makes it close to impossible to make any safe`ish TA predictions. The world are seeing a spike in the number of infections as predicted, and larger companies have reported negative financial reports as predicted. It is unknown how the nations governments will react and how the sentiment of the market will respond. The overall notion I have is that BTC will increase as well as adoption, but I am not convinced it will happen this year as many others believe. It all depends on how much the nations governments around the world can and will do in order to try and protect the bubble, because we will see more negative numbers or stagnation on balance sheets (on many of today large cap companies) this year and next year. If nations are "all in" to protect the bubble, I believe we will not see the "real" rally of BTC until next year (inflation from fiat included), but we will see a good increase in price this year. The good price increase, I would reason as a trend along with gold. Insecurities in the market and investor hedge in BTC, and precious metal.
by egilagre
2
BTC UP - THE SECRET INDICATOR SAID IT BACK THENHello, the secret indication was correct: BTC was not retracing to 7k but rather going up (SEE THE LINKED IDEA). This is not to drag, but as a confirmation that the secret indicator works and can be used as a great confirmation. Please note I said confirmation. It has not to be used as the one and only rational for an investment decision. Said that, it still shows a 26% upside still as per the chart below. Also, the BTCEUR chart is clearer than the USD one, showing a clear restest and accumulation phase above the support. We can also see a triangle with the same exact target of the fibo extension targets is 10,900-11700 EURO
Long
by edutradinguru
Be careful, do not FOMOHello Wonderful and beautiful person! Just came back from summer holiday, and for a while there it seemed like BTC was at holiday as well, but we got some massive response these last couple of days (7 days). - Market cap increased by billions - BTC market dominance fell by a couple of percent - Enormous influx of interest and investment in alt coins. - Large companies finally release their financial reports which confirmed my suspicion. - Unemployment rate are very high in U.S and Europe. - Precious Metals had major uprising. Those of you who have read my previous posts (thank you very much), know that I was not convinced we were in a recovery but rather we saw a "dead cat bounce" (not a V-shaped recovery). September was the month I kinda prophetised, in a Nostradamus kinda way, that we would see more or less the real effect on most of the markets. That month is still on the table for my part and has not changed, but we seeing more and more the real story now. ---- On the side note, Europe has opened up their borders in desperate act to make business flourish, and they are already reporting a large increase in Covid cases. Second wave is also still on the table ---- How will all this impact BTC? well, I believe we will see a dip like we did on the "fire-sale" of Mars-April (investors will liquidate), and then we will see the anticipating massive increase in demand for precious metal and btc. For my part, this increase we see now came unsuspected and it does not seem to hold its momentum. - The RSI is not being convincing that this uprising has support. - CCI has actually downward move, and in divergence with price action. - Stochastic also are showing little momentum like RSI, but also in divergence like CCI. - Price action is very contested as pointed out with the blue arrows. - Volume does not support anyway near the new highs we have now So, to sum up: be careful and do not FOMO, as this could be short lived price increase. USA are again turning on their printing machine and Europe have approved financial aid to all EU countries, which WILL impact the market; but not sure how. Precious metal, especially gold and silver are artificially held lower than the demand with Future market. Physical gold and silver are not easy to get, and new mines are not being started yet.
by egilagre