coin8300

coin8300

FOMC will likely add nothing to tapering pressure and rates will not move until 2023 at the earliest (according to Goldman recently). This is probably a decent outcome on that non-action. We tested the lows with strong rejection, while resistance levels had lukewarm rejections when we reached ~41500, making me believe we take another run-up stab at them. The...

coin8300

The upward pressure on bitcoin will persist for the next ~5 years. This is going to be a slow squeeze recession where sovereigns will likely lose control of monetary policy and enter perpetual QE with zero and negative rates. There is a cost to holding cash and bonds, there is not a cost to holding bitcoin. Equities will be squeezed with low returns for years...

coin8300

Typically when things calm and volume drops we have reached an equilibrium. This is exactly how btc behaved in the 3-4k range before it shot up nearly 4x. If you have shorts use caution with limit order covers and if you are trying to make an entry it looks like you are running out of time. This is the environment when the giant green candles appear. Random...

coin8300

We are not seeing much pressure at $8k. Any dips are promptly bought up. Gear up for another parabolic rise. This will keep going until people are willing to sell. Knowing the cycles/trajectory, sellers are rare this early in the long term run.

coin8300

The Lightning Network will make Bitcoin a cash flow asset as lenders meet users in a free market methodology. Beyond this, Fidelity, Etrade, TD Ameritrade, Bakkt, and the halving are all coming up. We went to $8k and stuck the landing with no issue. Let that be an indication beyond common sense based on the catalysts listed above that we are headed up. $20,000...

coin8300

Nobody is selling and too many things are coming online that benefit Bitcoin: Bakkt, Fidelity, eTrade, TD Ameritrade, Possibly Ebay, halving, uptick in inflation from trade war, huge deficits/entitlement gaps. We are also seeing no correlation with Bitcoin and the S&P500. It is acting like a real store of value. Institutional investors know we are still in the...

coin8300

Not much of a technical analysis here, but just want to point out that Bitcoin over the past month has had many days where the markets were down by a high degree (2% down is a large move for the S&P) but bitcoin stayed flat or increased in value. The correlation of Bitcoin to equity markets is very low. This is exactly what institutions are looking for. Be on...

coin8300

Right on the clock, Bloomberg has a hit piece ready to go whenever the price goes up or stabilizes. The powers that be pulling the strings with their media medium don't want Bitcoin to succeed, but the community is not buying it. Ive been watching the books with large bid orders being filled on this dip. Accumulate the short lived FUD attempts, there will be many.

coin8300

The BTC price is seeing little resistance to stay above 5k, even the China news (which could make traders jumpy) did almost nothing in terms of sharp movements when BTC was about $5300 (Bitfinex). It went on to hang out at that range for days. A slight pullback occurred but at a very slow rate. Its becoming clear that people are not content with nickle gains and...

coin8300

There seems to be few sellers at ~$5k, nobody is scared of a correction or retest when the price is currently in the basement; it looks like we stuck the landing at $5k. Upside to full inverse Bart is probable. Then the bull run works from there. QE4 already being mentioned, and interest rates are going even more negative globally. Fiat exits will be utilized...

coin8300

Bitcoin will test key resistance levels at $4350 and then $4500 (Bitfinex). Breaking out of $4500 is likely to cause a parabolic rise, the first of 2019. Interest/sediment is shifting positive and I think clearing $4500 will be low hanging fruit in hindsight on our way up.

coin8300

Things could get interesting if we break past $4340, the next resistance really isn't seen until quite a bit higher near $5940. Inverse Bart?

coin8300

A break above $4350 signals a rise To $5940 (Bitfinex) which is the next support level.

coin8300

The next support above $4350 is $5940. Its a long way up but Bitcoin has a history of making these kind of moves. Will be interesting to see how this plays out if we crack the first resistance level; we may be in for the first major rise in over a year in a new bull cycle.

coin8300

The long term bear channel that carried bitcoin for over a year is clearly broken. We have likely entered a new bull market and the next target to clear after 4k will be $4340 (Bitfinex). If $4340 is cleared, the next support line is all the way up at $5800.

coin8300

Just pointing out in preparation for the next upward movement in the cycle that if you sold out above 70 on the RSI in the last bull run (1 and 5 year time frames) you made only 5% of the upside and missed out on 95% of the gains. Buy and hold if you think a bull market is in the works. Trying to time ups and downs has not worked historically.

coin8300

We broke through the long term down channel for the first time in over a year. There is a good chance the next move is significantly higher, though we may stay sideways for a while/grind incrementally higher until a breakout occurs. ~$4500 will be the first major price target (Bitfinex)

coin8300

We are approaching breaking the long term downward channel and shifting the trend to the upside for the first time in over a year by trading sideways alone. This will occur in just days by trading sideways or less than that if we make a slight move up.