This market trading analysis applies to various exchanges, including Bitmex and Binance. Tackling questions like if Bitcoin can reach 20k again and if we will be seeing a crypto currency market recovery this year. Things like the lightning network have provided huge improvements for BTC and while it is true that others like Roger Ver with Bitcoin Cash (bcash) may disagree, I do see these blockchain technology innovations to be very bullish fundamental signs for the space.
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Cryptocurrency is defying traditional trading. Because of its creation mechanism/aspect…..it's the wild west and has been since the first bitcoin was mined. The only way to trade is to do your homework or be an insider which is alright since the markets exchanges are worldwide and loosely regulated. Want to make money….be an insider.
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8 minutes of the same illogical statement, "we haven't bottomed until we retest previous lows". Literally makes no sense. Previous bear markets didn't have their all-time low tested before trading higher. Traders and analysts do not make such a statement even in traditional markets.
A lot of bitcoin hodlers don't have that time. Why is their mental health of no concern to you?
The bullish sentiment represented in the comments here – where the hell does it come from? I dont get it. Okay we could possibly continue the uptrend from here and not go back for testing but thats FAR no reason to stop looking at it critically.
He bought ?
TA lesson one
If the price breaks higher it could test higher numbers
If the price breaks lower we could test lower numbers
Thank you no fee needed
Very Poor Info.
2:03 i was waiting for you to say " why am i using this weird analogy again" xD
Using the Elliot Wave, it is now doing the A-B-C wave or A-B-C-D-E wave.
Which will lead to continuation of pattern after it does its job.
Support doesn’t necessarily mean a number value. So, we could have our bear market low, while still testing the same resistance. It could merely mean a retest of the 200 weekly MA which is now around $3350.
Buy and hold shorting is to risky now buy every week don’t have emotions and panick we will moon at some point in the next two years. If it drops buy
Don't wait for the bulls ,don't follow anyone ,don't be a goat and wait for trends
Be a fkn Bull like me .
Feel like a man with big hairy balls.
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Why would the market makers allow inverstors to buy the bottom twice? And how many times did we test the 6k support before we broke down? By now i don't think the double bottom is bullish anymore. I say either we saw the bottom or the bottom is lower than 3.1k.
It will go lower than 3100.?
If $3100 again it means its NOT THE BOTTOM. You can only have 1 bottom. check the history.
We never tested the bottom in 2015…. so why does it HAVE to happen now? Never speak in absolutes, this is crypto!
You don’t need to test 3100 again to confirm the bottom
Nothing in Technical analysis says that you “must “ make a double bottom formation!!!!!
'Need', 'must', feel', well that sums it up alright…..
No it won’t.
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the thing is 3100 was the 200 weekly moving average. we did test the 200 wma again in the 8th of February, by that time it was at 3350 level.
This is what happened in 2015 as well, duobble bottom on the 200 wma. and a side way action for few months then bullmarket. it feels like theres not enough bearishness to break the 200 wma since its such a strong support. what you say about that?
Two scenarios in play from this level to 4440-4600 or down to 3500 and up to 4250i am currently long as of today on eth entry 130.9 liquidation 62 bucks
bitcoin has a history of doing the opposite of what analysts say MUST happen…I remember people getting caught out in Q4 2013 when it was said that bitcoin MUST go down to $120-130 range and bounce off support (which was previous strong resistance). Bitcoin never revisited those lows again and shot up…a lot of ppl got rekt over that 🙁
Just seeing so many moonboys on this backs up your point. Capitulation has not yet happened. Time to punish the moonboys once again!
I bought 100 BTC in early 2011 when they were priced at $0.06 each. I knew at the time when I bought them that one day they were going to be worth a fortune. I can remember telling my wife exactly that, and she agreed with me. But the thing is, what I didn’t expect was for it to happen so quickly. I didn’t even think it would happen in my lifetime, I thought it was probably going to happen in my children’s lifetime. But, there was a lot going on at the time, our house had a dry rot problem, I had a lot of bills I needed to pay and debts I needed to pay off. So, I sold the 100 BTC I had on MtGox when the price was $4. I thought I would have plenty time to buy back in again. Shortly afterwards in 2013 the price rocketed up to $1,200. I had just lost out on $120,000. It was hard to bear as like I said, I knew they were going to be worth a fortune. I lost interest in bitcoin until its all time high of $20,000 where i bought 6 BTC which i saw crumbled to a mere $6,000. Bitcoin has burnt me twice but i kept faith and wasn't going to sell again like i did. This time around, i decided to try trading which i researched on until i met Barry Goddard (barrygoddard9@gmailcom) . Trading with his guidance has been my turning point and i pay myself every 2 months from the profit i make as a trader using his daily signals and trade patterns. That way, i earning continuously and i am not concerned about price fluctuation, bulls, bears and the unpredictability in bitcoin as my profit margin exceeds 400% ROI. His system is one of the best and by far the easiest to adopt.
Market does whatever it likes, there is no must in anything.
Also higher lows in recent times.
Disliked without even watching. Don't ever say any asset MUST behave a certain way. The market doesn't care how many lines you draw
if you are smart, buy in at 3300, dont wait for the 3100 level as you may not get it
Thanks
what about the low of 2900? 2500? 1800? 1100? 600?
You know what people should do? Buy some now and hold some fiat back if its going down again. Be fucking prepared for both. You do not have to fear if you are prepared for everything
I have to slightly dissagree with you , yes i think we have to retest but not the 3100 but more the 200 weeks ema (the 3100 usd was only a test of this) and in the next 1 or 2 days 20w ema and 200w ema will collide and decide if it breaks down or up and will give a clear INDICATION if the bear market is over.