As mentioned in previous publication, Bitcoin will rely heavily upon good/bad news to make a directional decision. Yesterday it was formally announced that BlackRock invest firm which manages ~$6.28tril in assets has a dedicated team exploring Bitcoin and Cryptocurrencies. This particular announcement assisted in a break through of the 6360-6380 resistance with a...
As mentioned in the heading this Bitcoin 0.14% analysis is a short term outlook with ETF decision date in mind.
First of all, based on my previous analysis, what I had failed to realize was that there is a high chance it could have pulled back from the resistance to create a iH&S neckline. As outlined in the chart this neckline resistance is also confluent with...
As Bitcoins volatility has decreased along with quick chops appearing past months, my short term plays will be slightly longer to allow movement between S/R zones. As a newer trader it can be easy to lose myself within the quick moves on shorter time frames. That is also why I have been focusing more on larger time frames to get a better perspective of direction....
