BTC - Recovery is on the horizon
Updated
Hi our dear crypto family!
We are back with bunch new info about BTC and it's trend!
So during the weekend we managed to recover a bit but sill pretty far from the 10K level.
We really have to break it for good to be sure we can go any further.
Good news is we are above the SMA50 and WVMA50 (weighted volume average). VWMA50 is over SMA50 which is another good news.
Unfortunately we fell out from the red-marked triangle. We are still below long-term support. Actually we are on the verge. That is the first step to break to go further.
Next stop will be to break SMA100 and WVMA100 which is at around 8800 level. Keep observing.
Next stop and big resistance is 10K. Be patient but vigiliant. We may encounter double peak forming (with 10k stop) resulting we can fall again below 8K.
This is about trend and certian levels.
But all that won't happen without the key which is VOLUME! Volume is fundamental here as this is direct factor which influences the price.
This works in case of every good in the world - the more people want to buy and the bigger shortage of this certin good is the higher the price is.
And other way round - too much good and few people willing to buy results in price decrease.
Can you do something with it? Of course! Tell your family, friends and collegues at work what BTC really is. Explain them, show advantages, encourage them to invest certain amount of money in BTC instead loosing money on bank deposit.
Here is the great article from medium.com explaning possible huge impact of crypto and blockchain on our world - Read it and share it our peers. It is really worth recommending. medium.com/@d0a038ca8a9/860c3f25f1fb
Getting back to the chart.
Perfectly we need large demand and small supply for rapid price risal. It is not the case now for BTC.
Although we can observe that supply was getting spent. Demand slighlty rised but we are waiting for more.Trend is postiive according to Weis Waves.
Moreover we can see positive trend on MACD chart as well. Dips are shallower and we can see bull's cross.
To make story short. Here is the summary. Quick glance and you know everything.
1. We are above the SMA50 and WVMA50 (weighted volume average). VWMA50 is over SMA50 which is another good news.
2. We have to break previous support line which means breaking 8600$ level.
3. We need to break SMA100 and VWSMA100 at around 8800$ level.
4. If above happens we are going to attack 10 000$.
5. Stay cool and watch if double peak pattern is not forming.
6. Weis Waves - looks like supply is almost spent and demand is spinning. We should go UP!
7. MACD - positive trend and.
If you like our job give us a like. Do not hesitate to comment. We are very open and value your contribution!
If you don't want to miss out updates don't forget to follow us!
HUGS!
WBM Team
We are back with bunch new info about BTC and it's trend!
So during the weekend we managed to recover a bit but sill pretty far from the 10K level.
We really have to break it for good to be sure we can go any further.
Good news is we are above the SMA50 and WVMA50 (weighted volume average). VWMA50 is over SMA50 which is another good news.
Unfortunately we fell out from the red-marked triangle. We are still below long-term support. Actually we are on the verge. That is the first step to break to go further.
Next stop will be to break SMA100 and WVMA100 which is at around 8800 level. Keep observing.
Next stop and big resistance is 10K. Be patient but vigiliant. We may encounter double peak forming (with 10k stop) resulting we can fall again below 8K.
This is about trend and certian levels.
But all that won't happen without the key which is VOLUME! Volume is fundamental here as this is direct factor which influences the price.
This works in case of every good in the world - the more people want to buy and the bigger shortage of this certin good is the higher the price is.
And other way round - too much good and few people willing to buy results in price decrease.
Can you do something with it? Of course! Tell your family, friends and collegues at work what BTC really is. Explain them, show advantages, encourage them to invest certain amount of money in BTC instead loosing money on bank deposit.
Here is the great article from medium.com explaning possible huge impact of crypto and blockchain on our world - Read it and share it our peers. It is really worth recommending. medium.com/@d0a038ca8a9/860c3f25f1fb
Getting back to the chart.
Perfectly we need large demand and small supply for rapid price risal. It is not the case now for BTC.
Although we can observe that supply was getting spent. Demand slighlty rised but we are waiting for more.Trend is postiive according to Weis Waves.
Moreover we can see positive trend on MACD chart as well. Dips are shallower and we can see bull's cross.
To make story short. Here is the summary. Quick glance and you know everything.
1. We are above the SMA50 and WVMA50 (weighted volume average). VWMA50 is over SMA50 which is another good news.
2. We have to break previous support line which means breaking 8600$ level.
3. We need to break SMA100 and VWSMA100 at around 8800$ level.
4. If above happens we are going to attack 10 000$.
5. Stay cool and watch if double peak pattern is not forming.
6. Weis Waves - looks like supply is almost spent and demand is spinning. We should go UP!
7. MACD - positive trend and.
If you like our job give us a like. Do not hesitate to comment. We are very open and value your contribution!
If you don't want to miss out updates don't forget to follow us!
HUGS!
WBM Team
Note
For better insight.Note
Guys. We have new resistance and support lines. New support level for BTC is at around 8100. Unfortunately supply is growing. Let's wait for another demand impuls observed as a red wave on Weis waves chart.Note
Guys. Don't panic. Supply has grown signficiantly and no one buys. This is actually buy opportunity. Remember the rule - when everyone sells become greedy. This are purely emotions - market is so volatile. TA : We are right now i tapering tunnel and according to elliot waves we can go as low as 7000-7100$. Observe the volume and weis waves. Right now there is no signal of trend reversal. It will come. Soon for sure. 
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