Good morning again ladies and gentlemen and welcome back to my daily look into Bitcoin. Today I have the 4hr pulled up once again after a pretty boring weekend in terms of price movement. Not too much went on with BTC but alts really did well why BTC slept in. XRP and ADA really took off this weekend along with many other alts. Not too shabby. As we move forward will attention be drawn from BTC and thrown upon the alts??? Only time will tell for sure. Anyways lets take a look at what is going on with the charts.
Today I wanted to bring up we are still sitting pretty considering. I know the farther up the chart we go the more people I see talking about taking profit. Thats okay. The market thrives on buyers and sellers. Without both there is no market. So looking at the 2017 pump the highest market cap we enjoyed with BTC at ATH was 326,502,485,530 on December 18th 2017. Saturday we have a market cap of 345,819,234,185. That is the highest I can ever find for Bitcoin. Nicely done! I have read that this is even higher than that of Visa! That is incredible. The value in BTC doesnt just lie in the coins. It lies in the network. Tons of people use it and that is what makes it truly valuable.
Next I want to discuss the fact that the 4hr 50 MA has been one of the most reliable indicators over the past few months. I really like what I see on the 4hr. Weekly looks great too. 8 green candles in a row on the weekly. Nice! I cant find another instance of that occurring. I dont see any gaps so we dont need to worry about that today. I would say at this moment in time support is 18300 and resistance would be around 19k. I think we can break 19k this week with ease. Just depends if alts hog all the glory for a while.
I am expecting a move soon enough as the 4hr bollinger bands are beginning to tighten back up thanks to the weekend consolidation. This leads to future volatility. I will be setting that stop loss just in case. Just trading 101 there. If we do lose the support of 18k we may revisit 17600. That seems to be solid support thanks to the .236 fib being in the area.
Keep an eye on BTC folks. We could see a push to a new ATH or we could see some serious blood. Never forget 2017. That is one reason I always mention stop losses. At these levels do you trust yourself to catch that falling knife? Or will you set a stop loss and allow the knife to catch itself? Be ready for anything. That is how I am playing things. Eliminate all the risk you can if you plan to long at these levels. And the first and foremost way to accomplish this is setting a stop loss. Bitcoin is completely capable of hitting a new ATH this year. But only time will tell for sure. Have a great day people! Make good choices! WTFDIK???
TLDR: Did someone wake up the XRP Army? Jesus
Today I wanted to bring up we are still sitting pretty considering. I know the farther up the chart we go the more people I see talking about taking profit. Thats okay. The market thrives on buyers and sellers. Without both there is no market. So looking at the 2017 pump the highest market cap we enjoyed with BTC at ATH was 326,502,485,530 on December 18th 2017. Saturday we have a market cap of 345,819,234,185. That is the highest I can ever find for Bitcoin. Nicely done! I have read that this is even higher than that of Visa! That is incredible. The value in BTC doesnt just lie in the coins. It lies in the network. Tons of people use it and that is what makes it truly valuable.
Next I want to discuss the fact that the 4hr 50 MA has been one of the most reliable indicators over the past few months. I really like what I see on the 4hr. Weekly looks great too. 8 green candles in a row on the weekly. Nice! I cant find another instance of that occurring. I dont see any gaps so we dont need to worry about that today. I would say at this moment in time support is 18300 and resistance would be around 19k. I think we can break 19k this week with ease. Just depends if alts hog all the glory for a while.
I am expecting a move soon enough as the 4hr bollinger bands are beginning to tighten back up thanks to the weekend consolidation. This leads to future volatility. I will be setting that stop loss just in case. Just trading 101 there. If we do lose the support of 18k we may revisit 17600. That seems to be solid support thanks to the .236 fib being in the area.
Keep an eye on BTC folks. We could see a push to a new ATH or we could see some serious blood. Never forget 2017. That is one reason I always mention stop losses. At these levels do you trust yourself to catch that falling knife? Or will you set a stop loss and allow the knife to catch itself? Be ready for anything. That is how I am playing things. Eliminate all the risk you can if you plan to long at these levels. And the first and foremost way to accomplish this is setting a stop loss. Bitcoin is completely capable of hitting a new ATH this year. But only time will tell for sure. Have a great day people! Make good choices! WTFDIK???
TLDR: Did someone wake up the XRP Army? Jesus