Hello all,
The long term downtrend support line has been broken yesterday during some hours but it was a Head Fake :
What is the meaning of a Head Fake ? It means in that case that we started to break the support line, but that the sellers didn't have enough engagement to continue the move and so the buyers came back powerfully.
I like this kind of move because it can be a good indicator that we will go in the other direction and so in that case, that a bounce is expected and coming.
Is the Bottom done?
It is possible but still too earlier to be sure. We need now to see several UP like I drawn you on the chart in green. If we stop already the UP now and go back test the downtrend support line again, the sellers could win and break it really with a nice volume.
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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In 4 hr btcusd chart there appears anbullish macd divergence. Btcusd making lower lows while macd converges slightly higher but ya been happening since the first drop to 12000. Too many confusing signals imho. That means wait for me. I’d personally rather lose a several thousand dollars/btc and have confirmation. If what I think the potential for btc is true, several thousand/btc won’t matter when we are taking high 10s or even 100s of thousands. Just imho.
Good summary. Too confusing to say anything for sure right now
https://steemit.com/bitcoin/@davebrewer/cryptos-hit-bottom-today-time-to-buy-hugely-and-hodl-as-we-go-to-the-moon
That head fake screwed me over t be honest.
According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.
bitcoin.PNG
Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.
At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.
The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.
The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?
This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.
Esperemos comience a recuperarse el mercado y ver nuevamente el btc en números atractivos.
I would wait about a month and then invest.
You can kick yourself then
Nice post
resteem you post please give a huge upvote thanks
thanks for your analysis. looking forward to a high bounce. wishing you the best also...:-)
Excellent information dear friend thanks
So, up or down?
I'm not as educated in the subject as you are, but that "bounce" of which you speak is not induced by the sellers themselves? That's to say, it is a win-win for the big investors (those who in the end are the ones who move the market at will).
Now, when you say that this is an indication that we are heading to the opposite path (that Bitcoin significantly increases its value), does it mean that we only lived what we experienced every year during these months? Another turn of the page and nothing else?
I think speculation is terribly damaging the confidence we have for Bitcoin and altcoins as currencies of the future. How does a new investor believe in the Bitcoin paradox? Or to be more explicit: how does the small investor to grow in this encrypted world full of sharks who manage the cryptomarket according to the mood of the day?
Maybe these questions are a bit silly for you, but for a novice like me, that matters a lot.
Have a nice day @cryptopassion!
I think we'll get a bounce but not immediately :) Good article!
Hopefully the head fake was the bottom, but many think we could head down to 5000.
Personally I think we hit the bottom already and will slowly recover. Corrections are typically 50%, but in the crypto world they can be more severe, 80-90%.
HODL and stay the course. We got this. Good luck to all, we are in this together!
HODL. That sounds like a sure fire plan for winning. Are you related to the Donald?
https://steemit.com/bitcoin/@davebrewer/cryptos-hit-bottom-today-time-to-buy-hugely-and-hodl-as-we-go-to-the-moon
You always done excellent analysis. Upvote with resteemed.
I don't think it's a bubble.
I'll buy more bitcoins.
Good luck
Good post, bitcoin players
Well its nice update about crypto #BTC whereas i wait it untill its again establish to upward.
Thanks for steeming @cryptopassaion
crptocurrency has always been unpredictable... rise and fall all has been planned by the bigger business man.... we are just part of there play.....
i think it is right time to buy not to sell
Volume seems a bit indifferent on the half hour candles. Could be seeing a bit of sideways movement.
As always, you provide very steadily the most accurate analysis. Many thanks
Good post
Hmmmm informative update. Upvoted
Nice post, will follow you, will appreciate if you could do the same.
The news that the "US Government SUPPORT" Bitcoin and it technology helped to stop the dip. Generally good news for everybody in the crypto world, but not everything is wonderful.
If your drawn is correct the 10K price might be a super powerful support and more stable price to BTC.
Hey guys! Check out my analysis on Bitcoin if you want to be on par with what is really going on :)
we coming up in a bit