฿ Bitcoin BTC/USD Daily Video, January 25, 2021

soul rebel

Sergeant
Messages
139
Thanks for all the updates and reports Sive.
Would you consider the $28k level a good time to buy Bitcoin for long term investment in case there is no deeper pull-back?

Secondly, can anyone suggest how to continue trading Bitcoin using spread betting from the UK now that my broker is no longer able to due to the FCA decision?
Thanks
Viresh
 

Sive Morten

Special Consultant to the FPA
Messages
14,886
Hi Viresh,
Would you consider the $28k level a good time to buy Bitcoin for long term investment in case there is no deeper pull-back?
In case of "no deeper pullback" probably yes. Still, with our monthly setup in mind, suggesting deeper retracement, 18-20K seems as a proper level for long-term investments. Current setup mostly stands on daily chart.

Another moment around long-term BTC perspective stands in relation to interest rates. It was really outstanding rally, everything stands great, but... BTC was not previously standing in environment of rising rates by the Fed. But this could become a reality to the end of the year, and I have bad feeling about this. I'm afraid that investors, once rates start to rise - turn back to traditional assets as they generate interest. So, BTC could replicate the gold and start dropping dramatically.
 

kris82

Private, 1st Class
Messages
43
Sive, regarding OP from higher TimeFrame. If you switch to H4 and make your ABC from highest point (A) 42k and with C 41.3k that's your first expansion, then next one, starting from thrust down 41.3k on Bitfinex, you will reach your OP target perfectly.
 

Sive Morten

Special Consultant to the FPA
Messages
14,886
Sive, regarding OP from higher TimeFrame. If you switch to H4 and make your ABC from highest point (A) 42k and with C 41.3k that's your first expansion, then next one, starting from thrust down 41.3k on Bitfinex, you will reach your OP target perfectly.
Hm, maybe you're right. Actually I've used previously Bitfinex, but it was seemed not good as significantly differs from Coinbase and all extensions missed the targets. Maybe situation has changed.
 
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