BTC 4h 1D 1W Weekly section: Bitcoin Weekend №3
Good afternoon, we didn't have time to blink when Saturday came again) So it's time to publish the weekly digest.
We recommend that you subscribe to us every time so as not to miss updating ideas.
And if you did this, then you should have seen our idea for BTCUSDT two days ago, which definitely worked out, the growth $23,200-25,000.
And who missed, then subscribe so that this does not happen again.
So, what happened on the BTC chart for the week. In fact, there is nothing anomalous, as for an asset at highs with increased volatility.
After the digest was published last week, the BTC price fell by 8% with a low of $21,800, however, the candles closing for two days was above $22,700 (the level that we indicated as critical). It was a clear signal that market manipulators were saying "it's too early to fall."
Further growth continued, +14% in a few days, but look at the volumes! Falling volumes on growth indicate only a lack of interest, that is, the BTC price is kept in the right range to sell off expensively.
The intersection of the trend growth of this quarter and the level of $19,400 coincides just with the end of this trading week, on the night from 27 to 28.
It's hard to believe that the week will be closed by -$5000 in the BTC price, but miracles happen on New Year's Eve, right? :)
It is also worth mentioning our global idea of using the Gann box, which indicates that a turning point on the chart should occur somewhere now.
Now a little about fundamental news.
There are a lot of news with headlines: MicroStrategy Institution, which bought out Bitcoin by nearly a billion dollars.
Firstly, MicroStrategy is not a financial market institution, but an ordinary technology company.
Secondly, well, not an ordinary technological company, but a very cunning company that, on Bitcoin growth hype, which is bought for borrowed funds, wants to greatly increase the value of MicroStrategy. Because their financial reporting is not the best, to be honest ... Therefore, it is worth delving into the news a little deeper than just the headline that everyone copies.
Another fan of hype news is the Grayscale Bitcoin Trust.
You read the news that they are buying BTC, but in fact they are accepting already purchased Bitcoins into the trust.
This could be a new pyramid: distilling Bitcoins, exchanging for shares of a trust, then selling shares and, after paying taxes, clean and laundered cash.
And even news like Grayscale Investments temporarily stopped accepting deposits in six cryptocurrency funds, has already begun to crawl out.
But easy money cannot be stopped, now there is a bull market and one need to buy at least something, because the x is ahead ...
XRP has recently shown how, over the course of hours, deposits can be reduced by half, and after a margin call, and generally leave zero on the account.
Okay, at the end we need a little positive:
Fortunately, the crypto market works 24/7, you still have time to make money, the main thing is not to rush and make informed trading decisions.
And to save your deposit from mistakes, use a stop. Yes, we agree, it is not pleasant to catch a stop, but for example, our trade statistics says that even 70% of break-even and unprofitable stops +30% of positive trades give an overall result of +90% to the deposit in two months.
For some, this is not enough for the background of Xs, but for others it is normal.
On the other hand, the chance of losing a deposit is very low, and for those who trade all in and even with leverage in a very volatile market, they may be lucky twice, and the third time there will be zeros on the account.
As the saying goes: forewarned is forearmed.
Therefore, our weapon at the moment is your like and comment :)
Great weekend to everyone)
We recommend that you subscribe to us every time so as not to miss updating ideas.
And if you did this, then you should have seen our idea for BTCUSDT two days ago, which definitely worked out, the growth $23,200-25,000.
And who missed, then subscribe so that this does not happen again.
So, what happened on the BTC chart for the week. In fact, there is nothing anomalous, as for an asset at highs with increased volatility.
After the digest was published last week, the BTC price fell by 8% with a low of $21,800, however, the candles closing for two days was above $22,700 (the level that we indicated as critical). It was a clear signal that market manipulators were saying "it's too early to fall."
Further growth continued, +14% in a few days, but look at the volumes! Falling volumes on growth indicate only a lack of interest, that is, the BTC price is kept in the right range to sell off expensively.
The intersection of the trend growth of this quarter and the level of $19,400 coincides just with the end of this trading week, on the night from 27 to 28.
It's hard to believe that the week will be closed by -$5000 in the BTC price, but miracles happen on New Year's Eve, right? :)
It is also worth mentioning our global idea of using the Gann box, which indicates that a turning point on the chart should occur somewhere now.
Now a little about fundamental news.
There are a lot of news with headlines: MicroStrategy Institution, which bought out Bitcoin by nearly a billion dollars.
Firstly, MicroStrategy is not a financial market institution, but an ordinary technology company.
Secondly, well, not an ordinary technological company, but a very cunning company that, on Bitcoin growth hype, which is bought for borrowed funds, wants to greatly increase the value of MicroStrategy. Because their financial reporting is not the best, to be honest ... Therefore, it is worth delving into the news a little deeper than just the headline that everyone copies.
Another fan of hype news is the Grayscale Bitcoin Trust.
You read the news that they are buying BTC, but in fact they are accepting already purchased Bitcoins into the trust.
This could be a new pyramid: distilling Bitcoins, exchanging for shares of a trust, then selling shares and, after paying taxes, clean and laundered cash.
And even news like Grayscale Investments temporarily stopped accepting deposits in six cryptocurrency funds, has already begun to crawl out.
But easy money cannot be stopped, now there is a bull market and one need to buy at least something, because the x is ahead ...
XRP has recently shown how, over the course of hours, deposits can be reduced by half, and after a margin call, and generally leave zero on the account.
Okay, at the end we need a little positive:
Fortunately, the crypto market works 24/7, you still have time to make money, the main thing is not to rush and make informed trading decisions.
And to save your deposit from mistakes, use a stop. Yes, we agree, it is not pleasant to catch a stop, but for example, our trade statistics says that even 70% of break-even and unprofitable stops +30% of positive trades give an overall result of +90% to the deposit in two months.
For some, this is not enough for the background of Xs, but for others it is normal.
On the other hand, the chance of losing a deposit is very low, and for those who trade all in and even with leverage in a very volatile market, they may be lucky twice, and the third time there will be zeros on the account.
As the saying goes: forewarned is forearmed.
Therefore, our weapon at the moment is your like and comment :)
Great weekend to everyone)
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.