Inside Catholic
GOOD EVENING STEEMIT,
Having missed yesterday’s Steemit blog due to Australia Day, I wanted to write a markets oriented post to supplement this morning’s slightly politically charged offering.
So of course, Bitcoin is still capped by resistance at the resistance zone we’ve talked about inside the linked blog post from the other morning just there.
BTC/USD Daily
As you can see, price continues to reject from the zone and doesn’t even look like making a dent into it on any of the lower time frames. All this points to unfortunately, is further short term losses for Bitcoin...
The positive however, is that I continue to say Bitcoin is only short term bearish. So long as price holds above trend line support that looks like coming in around 10k here (with scope to run to that 7k horizontal resistance level that hasn’t yet been retested as support), then the longer term bullish trend stays in tact and further gains are firmly on the radar.
Stay relaxed. Hold strong.
Peace ✌🏻.
Instagram: @forexbrokr
Website: www.forexbrokr.com
I like your point of view! Do you think Bitcoin will consolidate in this area?
What do you think about the end of CME futures? Do you think Bitcoin will run with the bull again? Great post! Upvoted! :)
Hey tempus, thanks for stopping by :)
I think we’re seeing some consolidation now as buyers try to push through the blue resistance zone but as we’re in a short term bearish trend, they are just getting soaked up. It’s a good sign that price hasn’t dropped hard out of it, but a breakout is coming one way or the other.
My friend @buzzbeergeek, wrote a great blog on his thoughts around Bitcoin futures. It’s worth checking out and I share a lot of these sentiments.
Of course. The crypto market is maturing and having periods of consolidation or short term bearish trends, doesn’t take away from an overall bullish market, which we’re in. Wait for Lightning Network to be properly implemented into Bitcoin and we’ll see some momentum alongside the positive media attention it will garner.
Hello Everyone, we did a BTC TA few days back, please check out our community page for more TA's https://steemit.com/bitcoin/@cryptospective/btc-price-prediction-feb-23-201
Interesting analysis though I'm not normally into subjective TA but always curious what people think. Short term I'm bullish on BTC (and long term but it will have its ups and downs) as seen from my data below. Check this out if it interests you: https://steemit.com/steem/@weilii/introducing-the-neux-oracle-steem-and-bitcoin-trade-signals Just started following you, would appreciate a follow back if my price analysis content interests you as well :)
No worries mate, will do.
thanks for sharing!!👍
No wukkas, mongi. 👍🏻
@forexbrokr - I admire your technical analysis for Bitcoin. I am trusting your tip to hold on our Bitcoin investment.
Thanks for the updates! It helps build my confidence!
May I know what is your prediction on Bitcoin for this coming months? Or when will Bitcoin boost back again to a high value?
Thank you! Have a great day ahead!
Hey jjeeppeerrxx, thanks for checking out the blog. I hope you’re getting value from my analysis and that it helps you make your own investment decisions.
While I’m bullish in the medium to long term in Bitcoin, I don’t want to give predictions because that’s not what trading is about. You need to form your own opinions and most importantly manage your own risk. Don’t just blindly follow me 😱.
Great analysis - I like how you show short and long term prospectives! I don't use a lot of T.A. (because I'm not great at it!) so it's very useful to improve my own skills by comparing my projections with others'.
Combining TA with FA can really be effective if done right. Fundamentals help you pick the correct markets to trade and then technicals help you manage your risk and keep you from going bust if you make a bad call. You should look at adding it to your arsenal.
Yeah I've been looking in to it and it seems like a great strategy alright, I was looking at baby pips as a place to learn - it's where I learned my current skills of TA, but I did not go too far. Any places you'd recommend for learning?
I do point people to babypips as a base, but while it’s great for basics, there’s just sooooo much there.
My advice is always to focus on the most simple supply/demand stuff like support/resistance levels, trend lines and how candle patterns react around them.
By using those levels and patterns alongside good risk management principles like risk:reward ratios that even fundamental traders use, you have all you need imo.
Babypips and forexfactory forums are great places to find traders who trade this way. As well as twitter and of course here. I actually used forums and trying to copy people a lot.
Great, thanks for letting me know! Will get learning properly during the week and will try the forums!
Steemit is looking for people like you, because of the information you are always bringing news that the masses needs
Thank you 🙏.
Steemit is looking for people like you, because of the information you are always bringing news that the masses needs.
I am also awaiting for the next super uptrend of Bitcoin price, because in my opinion that will help other Altcoins to move towards uptrends. Thanks for sharing.
Have a great day and stay blessed.
What do you think about the fact that Bitcoin seems to lead everything else up and down? Do you see a decoupling of this correlation in the future?
Remember that period last year where Bitcoin rallied hardddd and the alts did nothing.
In my opinion people tend to convert their Crypto's mostly into Botcoin, so that's why I am saying but this is my opinion and i would totally wrong. Thanks for sharing.
Have a great day and stay blessed.
As soon as the Lightning Network is launched BTC price will skyrocket again, i'm thinking of buying some more to HODL
Keep up with the good posts @forexbrokr
Thanks mate, see you around!
I like the blue bar on the chart. Nice visual.
Thanks fow, I really like to keep my charts simple and clear. Hope you took something from it :)
Peace is the good word to finish up texts both on Hip Hop culture as well as trading. Hold strong.
😂 You know it!
Bitcoin cash (BCH) is trading on the back foot today, with technical analysis suggesting the market risks a bearish breakdown over the weekend.
At press time, the cryptocurrency has depreciated by 7 percent in the last 24 hours, according to data source OnChinaFX. On Bitfinex, the largest market for BCH/USD trading, bitcoin cash fell to $1,479 today; its lowest level against the dollar since Jan. 17. As of writing, it is trading at $1,599.
The development follows a sharp recovery from the Jan. 17 low of $1,343, which witnessed a follow-through buying in the subsequent days. However, the move ran out of steam at a high of $2,110 on Jan. 20 and BCH turned lower again, thus creating a lower high pattern (bearish pattern) on the charts.
That said, the 7 percent drop seen today is largely in line with the weakness in other cryptocurrencies.
For instance, BCH's rival bitcoin (BTC) has dropped by 5 percent in the last 24 hours. Further, Ripple's XRP token and Stellar's XLM token are down 8 percent each, while ethereum's ETH cryptocurrency is down 2 percent.
Any reason you straight up copy and pasted a random BCH article from CoinDesk into my blog about BTC and tried to claim it as your own work?
https://www.coindesk.com/back-1500-bitcoin-cash-see-dip/
we always collect all information through websites i am not claim its my own but just collect information and paste here
But that’s the definition of plagiarism... You need to stop doing that and creating original content.