1/ Shitposting mode off, here's my real $BTC analysis.
The first step in analysis is zooming out. Getting too focused on day-to-day moves is counterproductive.
The weekly shows an intact bullish trend on #bitcoin. 200 MA holding strong. Low swings holding. No need for panic.
The first step in analysis is zooming out. Getting too focused on day-to-day moves is counterproductive.
The weekly shows an intact bullish trend on #bitcoin. 200 MA holding strong. Low swings holding. No need for panic.
2/ -- DAILY CHART --
The biggest concern on the daily is rejections from the 50k and 52k resistance areas. Bulls are unable to maintain highs.
I need to see a clean break and close above 52k before I get moderately bullish. Until then, I have a guarded bullish outlook.
The biggest concern on the daily is rejections from the 50k and 52k resistance areas. Bulls are unable to maintain highs.
I need to see a clean break and close above 52k before I get moderately bullish. Until then, I have a guarded bullish outlook.
3/ -- HOURLY CHART --
The first hurdle BTC needs to jump is the 50k. It is currently range bound between 47k and 50k.
What side of the range will break?
47k is supported by the 200 day ma, 50k is weaker. Whichever the direction I expect some moves when it breaks.
The first hurdle BTC needs to jump is the 50k. It is currently range bound between 47k and 50k.
What side of the range will break?
47k is supported by the 200 day ma, 50k is weaker. Whichever the direction I expect some moves when it breaks.
4/ -- THE RANGE --
The range 47k-50k range is my breaking point.
47k is holding strong, which is encouraging, but we shouldn't get complacent, since BTC regularly smashes through strong support.
50k is rejecting, which isn't good either.
We need to see a decisive break.
The range 47k-50k range is my breaking point.
47k is holding strong, which is encouraging, but we shouldn't get complacent, since BTC regularly smashes through strong support.
50k is rejecting, which isn't good either.
We need to see a decisive break.
5/ -- PLAN AND OUTLOOK --
I have a very cautious bullish outlook. I like the strength of 47k, it could be the bottom.
I've done some SMALL (read 7) dip buys today on $PYR, $LUNA, $LYXE, $ROSE, $HERO, $MOVR, $SOL, $UOS, $WILD, $SAND, $RFOX, $MANA, $HTR (bought yesterday).
I have a very cautious bullish outlook. I like the strength of 47k, it could be the bottom.
I've done some SMALL (read 7) dip buys today on $PYR, $LUNA, $LYXE, $ROSE, $HERO, $MOVR, $SOL, $UOS, $WILD, $SAND, $RFOX, $MANA, $HTR (bought yesterday).
6/ -- OTHER BUY TARGETS --
$NGL I average down at 3.55 if it is hit.
$CRAFT is easily my worst play in recent months. I still believe this is fundamentally strong. I will average down near 2.55
$NGL I average down at 3.55 if it is hit.
$CRAFT is easily my worst play in recent months. I still believe this is fundamentally strong. I will average down near 2.55
7/ -- WTF IS A SMALL DIP BUY? --
A small dip buy is exactly what it sounds like.
I am not convinced the bottom is in, so I am not committing big money to these dip buys. I am leaving most of my cash in reserve in case 47k breaks.
A small dip buy is exactly what it sounds like.
I am not convinced the bottom is in, so I am not committing big money to these dip buys. I am leaving most of my cash in reserve in case 47k breaks.
8/ -- WORST CASE --
If 40k breaks I will start to get very bearish.
FUDmas media manipulation is ongoing. Everything is being blown out of proportion in order to tank global markets. The news is having less and less impact.
If 40k breaks I will start to get very bearish.
FUDmas media manipulation is ongoing. Everything is being blown out of proportion in order to tank global markets. The news is having less and less impact.
9/ -- WORST CASE cont --
My biggest fear is a collapse of the Chinese housing market, but with China injecting $188 billion into the economy, it seems like they want to avoid this.
reuters.com/markets/rates-…
My biggest fear is a collapse of the Chinese housing market, but with China injecting $188 billion into the economy, it seems like they want to avoid this.
reuters.com/markets/rates-…
10/ This is not financial advice, it is just my opinion.
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