BTC bouncing, volatility rising, the good, the bad, the ugly?
Dear fellow readers!
Haha, this is what I actually do like so much about this market, yesterday bear, bear, bear, today bull, bull, bull, tomorrow bear again, nobody knows :D?
Is this going to be the all awaited beginning of the bounce? Have we bottomed yet? If it pumps, will it hold the level? So many questions, but basically no clear answers.
The only thing I can tell from the chart is, at the moment BTC currently seams to be consolidating forward, but for now BTC respected the green trend line starting with February’s pump.
If you take the orange trend line, starting from the last years absolute low to the the beginning of this years January low, into consideration, it shows me, that there is further downside potential. Since that is also around the time, where this 48.5k BTC whale started selling. For now, the remaining 45.5k BTC (44k/1.2k/300) are still parked and have not moved, another 80 BTC have been sold and 100 BTC waiting to be sold.
The 61.8% fib retracement seams to hold so far, but if you switch to the weekly and take also the RSI and MFI into consideration, this is indicating to me again, that there is room to the downside.
In my personal view, I hope that BTC will further retrace to a level of around 4.5k EUR resp. 5k USD. In my opinion, this would be a proper and healthy retracement level, after this year’s insane pump,
so I am waiting for the weekly BUY Signal flashing up, from the MFI+RSI Indicator I am using.
As a conclusion, just DCA, wait and chill, you won’t become a millionaire over night anymore :D.
Thanks for reading, If you are not conform with anything I write, just drop a comment and feel free to start a discussion, I do not want my readers to believe all
I am writing is fixed on stone, I just try to have a view on the big picture and if I am maybe missing anything, I would be glad to take this piece of information also into consideration.
Keep up educating yourself, take your finances in your own hand, short the bankers and long BTC!
I will keep you updated regarding further research
Cheers
I'm not a professional market analyst nor am I a professional trader and this shall definitely not be of any financial advice.
Do your own research and try to understand the fundamentals regarding any investment you take into consideration.
The websites and projects “advertised” are not mine, nor am I in any marketing or affiliate relationship with them.
Personally I am invested into this project, so of course I am biased, that is why I tell you to get educated and do not just put money in anything,
because somebody on the internet is writing good about it, scrutinise critically and if you are more than confident, do whatever you want for your good.
Haha, this is what I actually do like so much about this market, yesterday bear, bear, bear, today bull, bull, bull, tomorrow bear again, nobody knows :D?
Is this going to be the all awaited beginning of the bounce? Have we bottomed yet? If it pumps, will it hold the level? So many questions, but basically no clear answers.
The only thing I can tell from the chart is, at the moment BTC currently seams to be consolidating forward, but for now BTC respected the green trend line starting with February’s pump.
If you take the orange trend line, starting from the last years absolute low to the the beginning of this years January low, into consideration, it shows me, that there is further downside potential. Since that is also around the time, where this 48.5k BTC whale started selling. For now, the remaining 45.5k BTC (44k/1.2k/300) are still parked and have not moved, another 80 BTC have been sold and 100 BTC waiting to be sold.
The 61.8% fib retracement seams to hold so far, but if you switch to the weekly and take also the RSI and MFI into consideration, this is indicating to me again, that there is room to the downside.
In my personal view, I hope that BTC will further retrace to a level of around 4.5k EUR resp. 5k USD. In my opinion, this would be a proper and healthy retracement level, after this year’s insane pump,
so I am waiting for the weekly BUY Signal flashing up, from the MFI+RSI Indicator I am using.
As a conclusion, just DCA, wait and chill, you won’t become a millionaire over night anymore :D.
Thanks for reading, If you are not conform with anything I write, just drop a comment and feel free to start a discussion, I do not want my readers to believe all
I am writing is fixed on stone, I just try to have a view on the big picture and if I am maybe missing anything, I would be glad to take this piece of information also into consideration.
Keep up educating yourself, take your finances in your own hand, short the bankers and long BTC!
I will keep you updated regarding further research
Cheers
I'm not a professional market analyst nor am I a professional trader and this shall definitely not be of any financial advice.
Do your own research and try to understand the fundamentals regarding any investment you take into consideration.
The websites and projects “advertised” are not mine, nor am I in any marketing or affiliate relationship with them.
Personally I am invested into this project, so of course I am biased, that is why I tell you to get educated and do not just put money in anything,
because somebody on the internet is writing good about it, scrutinise critically and if you are more than confident, do whatever you want for your good.