JamesForexSlayer
Sergeant
- Messages
- 219
Good time to buy maybe
Bitcoin (BTC) analysis thread
- Thread starter momo3HC
- Start date
momo3HC
Sergeant Major
- Messages
- 567
Yes i think the same too but i`m a bit disappointed from the latest sideways move in aspect from the more and more positive news about BTC. That`s also why i`m not updated the analysis yet.
louise.kepinska
Corporal
- Messages
- 88
Keen to see these updates continue momo, really insightful.
Thank you.
Thank you.
momo3HC
Sergeant Major
- Messages
- 567
Let`s see the actual situation with this crazy BTC lately.
1st chart:
First of all this week i`m changing the chart from 1D to 1W. The market is so crazy lately so there`s no sense for me to analyze it in short or even mid-term. After all except trader i`m also a HODL-er so i`m trying to look longer in time. The only thing which I want to mention from 1D chart are the higher lows which we`re seeing lately. That`s good! Back in the 1W chart we`re seeing 2 consecutive green weeks already. That`s something which we`ve saw only once till the 14K top. Of course will be better to see a third one next week to be more sure into bull`s strength. Let`s talk also about the nearest support and resistance levels. The support is at $7200. That`s confirmed by 61.8 Fibo level and by the historical PA. The first resistance is at $7800 by the historical PA and after that level the next resistance will be at $8500 (50 Fibo level). What about the Moving averages? I`ll not talk about 50 and 200 SMA`s but for 144 EMA. This 144 EMA is a very good technical indicator. As we see from the chart the price almost perfectly bounce from it which is a very good sign.
What to do and how to trade BTC? Well, as I said already i`m a BTC trader but mostly HODL-er. About trading i`ll not do anything until the price quit from the $7200-7800 range. About hodling… continue to hodl and even compound it. Why to do this? Cuz that`s the future plus see the next charts below.
2nd chart:
Thanks to Glassnode again, we can see the bitcoin addresses with balance. How much are they? ATH at 28.39M addresses now, surpassing the previous ATH of 28.38M at 1/10/18. COMPOUNDING! If BTC will gonna crash do you think such money will be invested in it?
3rd chart:
Thanks to Willy Woo we can see the On-chain momentum chart. It tracks investor momentum and it`s crossing into bullish. Prep for halvening front running here on in. Like Willy says: “The bottom is mostly likely in, anything lower will be just a wick in the macro view.”
That`a all for this week and in advance for the next analysis i`ll tell that i`ve already prepared for you something very interesting.
1st chart:
First of all this week i`m changing the chart from 1D to 1W. The market is so crazy lately so there`s no sense for me to analyze it in short or even mid-term. After all except trader i`m also a HODL-er so i`m trying to look longer in time. The only thing which I want to mention from 1D chart are the higher lows which we`re seeing lately. That`s good! Back in the 1W chart we`re seeing 2 consecutive green weeks already. That`s something which we`ve saw only once till the 14K top. Of course will be better to see a third one next week to be more sure into bull`s strength. Let`s talk also about the nearest support and resistance levels. The support is at $7200. That`s confirmed by 61.8 Fibo level and by the historical PA. The first resistance is at $7800 by the historical PA and after that level the next resistance will be at $8500 (50 Fibo level). What about the Moving averages? I`ll not talk about 50 and 200 SMA`s but for 144 EMA. This 144 EMA is a very good technical indicator. As we see from the chart the price almost perfectly bounce from it which is a very good sign.
What to do and how to trade BTC? Well, as I said already i`m a BTC trader but mostly HODL-er. About trading i`ll not do anything until the price quit from the $7200-7800 range. About hodling… continue to hodl and even compound it. Why to do this? Cuz that`s the future plus see the next charts below.
2nd chart:
Thanks to Glassnode again, we can see the bitcoin addresses with balance. How much are they? ATH at 28.39M addresses now, surpassing the previous ATH of 28.38M at 1/10/18. COMPOUNDING! If BTC will gonna crash do you think such money will be invested in it?
3rd chart:
Thanks to Willy Woo we can see the On-chain momentum chart. It tracks investor momentum and it`s crossing into bullish. Prep for halvening front running here on in. Like Willy says: “The bottom is mostly likely in, anything lower will be just a wick in the macro view.”
That`a all for this week and in advance for the next analysis i`ll tell that i`ve already prepared for you something very interesting.
Sammy colt
Private, 1st Class
- Messages
- 41
Thanks for the analysis, be interesting to see if it has bottomed out or not this week.
momo3HC
Sergeant Major
- Messages
- 567
Me too, mate, me too.
Sammy colt
Private, 1st Class
- Messages
- 41
Still nothing too exciting going on with BTC really. Can see it being a pretty volatile week with other currencies though.
