The Biggest Question of the Week: Where is BTC going?
Hello folks,
Let me just pour over some Pinot Noir and start this profile. First of all, I am here to learn, share opinion with each other, make some money and most importantly to have fun! Otherwise what's the point, huh? I am quite new to this, so give me some to get used to tradingview charts and how to publish opinion. I promise that I will get better very fast and improve my analysis.
Now, even though the disasterous correction has been killing us since January, it seems to be coming to its end. So prepare the champagne to pop up and celebrate really soon, but when? As I look through the past years, the similar trend repeats itself. Quite bullish on December (2015-2016-2017) and a drastic correction on January and bitcoin gathers itself out mid February to March. This gathering process won't happen like the crazy bull run on December as we saw during the past 3 years, but it will be slow and steady!
If we look for the short term when to invest for bitcoin, today when you look at the 4h chart there are 3 things I see:
1- MACD is trying a cross-over to bullish side, but this doesn't look strong enough
2- RSI is around 55-60 and looks bullish.
3- Volume is increasing, but we are not quite there yet.
The general picture is looking good, but it needs a bit more momentum in my view. I am thinking to buy bitcoin, I will be wathcing btc movement between 10400-11600 range. Meanwhile let me figure out how thie publishing thing works. I need more indicators and more details on my charts to show support and resistance lines.
Until then, cheers and have fun!
Let me just pour over some Pinot Noir and start this profile. First of all, I am here to learn, share opinion with each other, make some money and most importantly to have fun! Otherwise what's the point, huh? I am quite new to this, so give me some to get used to tradingview charts and how to publish opinion. I promise that I will get better very fast and improve my analysis.
Now, even though the disasterous correction has been killing us since January, it seems to be coming to its end. So prepare the champagne to pop up and celebrate really soon, but when? As I look through the past years, the similar trend repeats itself. Quite bullish on December (2015-2016-2017) and a drastic correction on January and bitcoin gathers itself out mid February to March. This gathering process won't happen like the crazy bull run on December as we saw during the past 3 years, but it will be slow and steady!
If we look for the short term when to invest for bitcoin, today when you look at the 4h chart there are 3 things I see:
1- MACD is trying a cross-over to bullish side, but this doesn't look strong enough
2- RSI is around 55-60 and looks bullish.
3- Volume is increasing, but we are not quite there yet.
The general picture is looking good, but it needs a bit more momentum in my view. I am thinking to buy bitcoin, I will be wathcing btc movement between 10400-11600 range. Meanwhile let me figure out how thie publishing thing works. I need more indicators and more details on my charts to show support and resistance lines.
Until then, cheers and have fun!
Comment:
We are at the limit, if btc gets itself above 11600; then it will be total bullish and I will not wait for another correction to 10k. Let's see what we will have very soon!
This profile will be like a fun diary for myself. I will look at these analysis/predictions at the end of the year when bitcoin is rocking at the top on December 2018. We will at least triple our money at the end of the year (btc=30k), but for now let's try to figure out what our lovely btc will do.
I am still keeping an eye on btc on 4h chart and daily chart. Macd is still very weakly crossed over, but the momentum btc desired is not achieved. I am expecting small corrections till 10400. We saw today that the support is very strong, but I am not rushing out things. Just relax, pour over a glass of chardonnay and wait.
Let's see what tomorrow will give us and in the meantime, I will try to find some other coins to trade in short term.
Cheers to all!