Good Morning All !,
Once again with the NOOB (keyword) analysis!. Your one and only.
Let's NoobRecap since JR's last TV:
My last "analysis" is a bullish outlook and here's why: I've heard it over and over again, history doesn't repeat itself but it rhymes. If you take a look at the historical data on BTC-USD, we can notice that 200 MA (weekly chart) has been respected and if we continue to do so after the well known approx. 83 percent correction, well it is very possible if we continue to show support and hold above approx the 3.1k range, then we could in fact be looking near to bottom prices.
Okay, so what happen, what happen?
We had another leg down, to form a falling wedge and are (WERE) trading that the bottom of the wedge, which as of this morning, we seem to be breaking to the upside (keep in mind that momentum prior to this is to the downtrend). We have been respecting the 200 MA (weekly) just barely staying above from it. There is bullish divergence on RSI, Stoch RSI (not shown here), increase in Volume (not shown here). Please excuse the lack of information in my chart.
Case for 1.0K BTC?
If we make the assumption that BTC is in a HYPERWAVE, which is very much the case if you compare prior phases, there is no doubt that we are in a Phase 7, and our move (in terms of prices) to Phase 1-2 will be a slow but a sure thing and a Phase 1-2 could put us in the market fair price range and eventually (months, maybe years) before we break to a new trend.
Final Thoughts?
-We are closer to the bottom than the top. ;)
-Federal Reserve (Closed Board Meeting on December 18, 2018), Market reaction ?
-Take my analysis lightly, I'm here to sabotage myself to continue to gain the common core basic principles / fundamental principles of market speculation.
-Hope some (if any) of this information is helpful or informative.
**I'm not a financial advisor, I'm a NOOB. This is not recommendation to buy or sell. It's to be used for educational purposes only, so please do add your 2 cents. :) **
Thank you for reading and hope you can get some helpful information in here ! (Like/comment to support me ! )
- jr317 -
Once again with the NOOB (keyword) analysis!. Your one and only.
Let's NoobRecap since JR's last TV:
My last "analysis" is a bullish outlook and here's why: I've heard it over and over again, history doesn't repeat itself but it rhymes. If you take a look at the historical data on BTC-USD, we can notice that 200 MA (weekly chart) has been respected and if we continue to do so after the well known approx. 83 percent correction, well it is very possible if we continue to show support and hold above approx the 3.1k range, then we could in fact be looking near to bottom prices.
Okay, so what happen, what happen?
We had another leg down, to form a falling wedge and are (WERE) trading that the bottom of the wedge, which as of this morning, we seem to be breaking to the upside (keep in mind that momentum prior to this is to the downtrend). We have been respecting the 200 MA (weekly) just barely staying above from it. There is bullish divergence on RSI, Stoch RSI (not shown here), increase in Volume (not shown here). Please excuse the lack of information in my chart.
Case for 1.0K BTC?
If we make the assumption that BTC is in a HYPERWAVE, which is very much the case if you compare prior phases, there is no doubt that we are in a Phase 7, and our move (in terms of prices) to Phase 1-2 will be a slow but a sure thing and a Phase 1-2 could put us in the market fair price range and eventually (months, maybe years) before we break to a new trend.
Final Thoughts?
-We are closer to the bottom than the top. ;)
-Federal Reserve (Closed Board Meeting on December 18, 2018), Market reaction ?
-Take my analysis lightly, I'm here to sabotage myself to continue to gain the common core basic principles / fundamental principles of market speculation.
-Hope some (if any) of this information is helpful or informative.
**I'm not a financial advisor, I'm a NOOB. This is not recommendation to buy or sell. It's to be used for educational purposes only, so please do add your 2 cents. :) **
Thank you for reading and hope you can get some helpful information in here ! (Like/comment to support me ! )
- jr317 -