Have your BTC and drink it too (LONG) -Daily View
Updated
Hello there traders!👋🐶
Technically : 📈
In my opinion we are in a large descending-channel (bullish)
We have gained much support near bottom of the channel 🐮, which should pave way for upward price action.
Recently we have broken up and out of large descending channel, and created a minor continuation correction move (we can move into impulsive bullish price action very soon)
Candlesticks: 🕯
There was a nice morning star candle🌞⭐ formed yesterday (after 4 red candles, a doji candle can be considered morning star,) and so far today we have a large green candlestick, this is confirmation of change in trend from past few days. The next candle will be very telling as well.
Also, the fact that for the past few days we have been maintaining support above the 200 day MOVING AVERAGE daily view, is a very very bullish indicator. (In addition to that, we just had a golden cross of 50 day MA and 100 day MA, as long as this cross holds, BTC should go up, see below.)
🔥
This analysis is invalidated if we break back into channel. 👍🆗 Stocks such as Dow Jones Industrial Average index, could crash soon if we get locked down again in many areas of the world. Sudden crash in DJI (many large industrial stocks) in could have a short term negative effect on BTC, but overall will strengthen the use case of cryptocurrencies in general.👍 Below is a possible situation, not to be scared, just be prepared.
Fundamentally: 🔍
Realistically there are only a couple months left of this "cycle" as many follow.
The whole pandemic seems to have tampered with the BTC regular (1 and a half year bull, 1 and a half year bear,) cycle we just mentioned.
Here is the thing, BTC doesn't seem to care much about the past anymore, as more and more people jump onto the bandwagon in fear of their money losing value in this financial collapse. 💲👁🗨⚠
No, I am not saying we will never crash, I am however, optimistic in the coming months, possibly up to the end of the year for BTC.😄
Furthermore:🐳🦈
The options expiry (futures, the put or call AKA long or short bets, will be locked in and profits either made or lost,) is coming out this Friday as it does every week, and this week is dominated by neutral to bullish call options. This means that there is going to be a lot of buy pressure to hold the price above 46k so that these call options (over a hundred million dollars worth) do not become invalid. See: globalcryptosociety.com/2021/08/bitcoin-gains-strength-as-fridays-600m-btc-options-expiry-approaches/ for more info.
Thank you for considering my bias today, and as always, happy trading ☯
P.S. soon to come ⏩ BTC horse race depiction 🤫😅🐎
🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment, thank you!
Always have a stop loss ✋🛑💲 set🆗
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.
Jazerbay
Technically : 📈
In my opinion we are in a large descending-channel (bullish)
We have gained much support near bottom of the channel 🐮, which should pave way for upward price action.
Recently we have broken up and out of large descending channel, and created a minor continuation correction move (we can move into impulsive bullish price action very soon)
Candlesticks: 🕯
There was a nice morning star candle🌞⭐ formed yesterday (after 4 red candles, a doji candle can be considered morning star,) and so far today we have a large green candlestick, this is confirmation of change in trend from past few days. The next candle will be very telling as well.
Also, the fact that for the past few days we have been maintaining support above the 200 day MOVING AVERAGE daily view, is a very very bullish indicator. (In addition to that, we just had a golden cross of 50 day MA and 100 day MA, as long as this cross holds, BTC should go up, see below.)
This analysis is invalidated if we break back into channel. 👍🆗 Stocks such as Dow Jones Industrial Average index, could crash soon if we get locked down again in many areas of the world. Sudden crash in DJI (many large industrial stocks) in could have a short term negative effect on BTC, but overall will strengthen the use case of cryptocurrencies in general.👍 Below is a possible situation, not to be scared, just be prepared.
Fundamentally: 🔍
Realistically there are only a couple months left of this "cycle" as many follow.
The whole pandemic seems to have tampered with the BTC regular (1 and a half year bull, 1 and a half year bear,) cycle we just mentioned.
Here is the thing, BTC doesn't seem to care much about the past anymore, as more and more people jump onto the bandwagon in fear of their money losing value in this financial collapse. 💲👁🗨⚠
No, I am not saying we will never crash, I am however, optimistic in the coming months, possibly up to the end of the year for BTC.😄
Furthermore:🐳🦈
The options expiry (futures, the put or call AKA long or short bets, will be locked in and profits either made or lost,) is coming out this Friday as it does every week, and this week is dominated by neutral to bullish call options. This means that there is going to be a lot of buy pressure to hold the price above 46k so that these call options (over a hundred million dollars worth) do not become invalid. See: globalcryptosociety.com/2021/08/bitcoin-gains-strength-as-fridays-600m-btc-options-expiry-approaches/ for more info.
Thank you for considering my bias today, and as always, happy trading ☯
P.S. soon to come ⏩ BTC horse race depiction 🤫😅🐎
🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment, thank you!
Always have a stop loss ✋🛑💲 set🆗
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.
Jazerbay
Note
Don't hate, the horse race has begun.. Which side are you on? 🐻🐮
Happy trading all
🐎🐎
Jazerbay
Note
Hello everybody👋
I was analyzing BTC for the day my current view is that 38k will be a good dip to pave way for more upside, considering we have this healthy correction / retest of 50 and 20 day MA.
Note
Jazerbay
Note
Hello! This is an update because we have seen some bullish movement 🐮📈Jazerbay 🐢
Note
Good day traders and investors. This is just an alert, watch this area (57,900) for resistance. If we can gain support here, onto our final targets 💪Always use caution in the market
👍👋🕘💲
Jazerbay 🐶
Note
Hello. 👋
Descending wedge situations:
20 and 50 day MA cross.
Volume/buy orders increasing 💲
Bullish engulfing 6HR/near bottom of wedge. 🐮🕯
Watching closely to see which way price goes next. 👀
Always use caution in the market.❗
News of some bearish activity followed by Evergrande collapse makes opening trades risky, let's see how this continues to form 👍
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