Projection for July BTCI'm just a student of the crypto market. So I learn by studying, but also sometimes by just looking at the charts and trying to make sense of them in different ways.
This is an example. It looks to me like there has been a consistent pattern of shallower and shallower downtrend angles over time in the BTC daily chart. And it looks like there is an overall trend systematically fighting the downtrend, and slowly winning.
There is not a new trend up yet, but the downtrend is weakening. People will progressively gain some confidence if the double bottom holds. And that support is the last line of 2021 price support. I believe it would take a disaster like Covid or a major stock market crash to take BTC significantly lower than this.
Obviously nothing is intended as advice. It's food for thought. I prepared it in the course of studying the chart this morning and thought I'd share it in case it interests someone. And to put it on the record.
SATSUSD trade ideas
Does BTC tend to crash before the DJI?Looking at the prognostications for imminent dire times in the stock market, and the matching ones / FUD for BTC, I was wondering how much linkage there is in the historical data.
And I wondered if maybe Crypto might be a "canary in the coal mine" for other financial markets, sensitive to the same factors but reacting earlier for whatever reason.
I do not find this analysis compelling by any stretch of the imagination, but it is interesting. And it does seem there is some synchrony if not mutual influence.
#SATSUSD Long 50% Short 18% @ current price of .0003926SATSUSD HAS REACHED JANUARY'S 2021 LOWS AND HAS FOUND SUPPORT. THE BOLLINGER BANDS ON THE LONG TERM DAY CHART STILL SHOWS WEAKNESS, BUT I AM LONG ON SATOSHI FOR A POTENTIAL 50% GAIN OF IT BREAKS ABOVE THE CURRENT SUPPORT LEVEL AND I AM SHORT ON THE POSITION TO THE DOWNSIDE OF 25% IF SATSUSD BREACHES SUPPORTS AND BOLLINGER BANDS INDICATE A FURTHER DOWNTREND.
TV IS 1ST TO MARKET! SATSUSD #TRADINGVIEW #TRADINGCLUENOT FINANCIAL ADVICE
The red circle shows the technical level everyone sold into after breaking, the box shows the horizontal support from the last consolidation at this level and the easy stopping point. The question is, will it go down like every time before? or will it deliver the best bear trap and bull flag to $0.001? seems like 2017 thanksgiving right about now.
I believe finance must be reacted to and not controlled: Markets.
I think TradingView has listened to us all and given us exactly what we wanted.
Hoping to win the New computer to use for school as tuition costs keep me on an old Panasonic tough book.
A long term analysis of SATSUSDSATSUSD is clearly in a down trend. The last uptrend line has been broken. Currently, the SATSUSD is consolidating in this channel and soon price is likely to go down more. Wait for the breakout of the channel in the red zone. Look at the SATSUSD on the Pine table containing more indicators for further analysis.
Trend analysis of SATSUSD by Dow theoryFor SATSUSD, as the last Higher Low has been broken on the weekly timeframe, we can say that it is a clear sign of the trend reversal. I am expecting that there will be more downward pressure for the price action at important Fib levels, creating new Lower Highs and Lower Lows.