This essentially now means that Bitcoin is perceived by investors as a safe haven asset, meaning in terms of turmoil (war, political, natural disasters, economic crashes) money will flood into bitcoin, much like it has been doing with gold for millennia.
Here's a short labelled chart essentially showing a timeline of the events that unfolded with the #USAvsIran...
BITCOIN LOOKS TO BE IN A BULLISH TREND BUT WE MAY SEE SOME SELLING AROUND THE 6500 LEVEL
REASONS FOR ENTRY
- 6500 EVEN HANDLE PSYCHOLOGICAL NUMBER, (POTENTIALLY LOTS OF SELL ORDERS AROUND THIS LEVEL)
- COMPLETION OF AB=CD MOVE
- FIBONACCI 161.8% EXTENSION COMPLETION
- MAJOR STRUCTURE LEVEL, MULTIPLE TESTS AND REJECTIONS AT THIS LEVEL AS SUPPORT AND RESISTANCE
BTC/USD made a clear triangle patter. At the moment price is very close to the top triangle (large grey line) also we have a smaller triangle patter next to this resistance (smaller grey line). Break through it can indicate bigger correction to the upside. Be awere there is still plenty of strong resistance zones above (dotted lines) .
The last three days the 8k level has been bashed into numerous amounts of times. 8.2k seems to also be a small target down in this area but from my honest opinion, the institutions are having games at this lower price; allowing the rest of us to follow suit.
Could this be the end of Bitcoin ruling the top of the table after all of these years?
Perfect pinbar candlestick formed on Tuesday showing some bearish control coming back into play. 10281 price is showing some resistance and a key level so lets see if the retracement now completes and breaks back through 38.20%.
A few weeks ago i talked about the decline of Bitcoin since the start of the XBTUSD trading on CBOE (see profile) and wondered if market manipulation had any correlation to the expiry of those contracts. From the beginning of trading these contracts on Dec 11th 2017 until the expiry of the second contract on Feb 14th 2018 Bitcoin saw a fall of 47%.
BITCOIN plummets further from its 20,000 highs and is now fast approaching a make or break level.
7890 area is the 200 day simple moving average on the daily time frame.
If we are to see a bounce in BITCOIN's fortunes it will surely come here or not at all.
With no history - its a guess but if there are BITCOIN buyers out there then this could be where they enter...
Following negative momentum divergence, ABC correction in play to be confirmed by resistance at 50% Fib level. Good for short term long, sort stop and then short to complete C wave which should be similar length to A wave which just happens to point to next support level. Should Rocket form here!
What a crazy weekend !!!!!!!!!!!!!!!!
All the people that consulted me last week and I told them to "buy Bitcoin, don't wait that it will fall again" - lost a lot of hair in the last 2 days.
Bitcoin until the end of the year will pass the 10K price no doubt.
2000 USD in 3 days do you realize what it means??
10000 USD investment could become...
After a crazy long weekend, the Crypto market saw Bitcoin making all of the miners confused,
It's an opportunity that will not return again it's like Bitcoin a year ago.
Our mind can't realize the future potential there is in these coins it's like the internet in the 80's.
Bitcoin will go up and still didn't reach his full potential and as we all...