Hi.
We could see the Bitcoin break down from the local support trendline which reflected in strong sell-off (marked with red dot)
After that Bitcoin is trying to break the local resistance trendline, which he did. Today.
So in the name of patterns, U shapes, V shapes which Bitcoin loves, the chart says we are going to re-test 9800 zone in few days.
Fundamentally there is few interesting things now.
The FUD news aren't working as they used to work. Back in 2017, 2018, even 2019 every headline with local Bitcoin ban, or similar, reacted as strong sell-off, but not lately.
Last few times I saw the news India or some countries trying to ban Bitcoin, didn't reflect on price at all.
This industry became strong & healthy (margin trading not included), there is still lots of manipulations. Overall sentiment is "I don't know where the hell Bitcoin is going". Which is good for uptrend.
I'm more scared of fomo sentiment, then I usually back off and observe.
We could see the Bitcoin break down from the local support trendline which reflected in strong sell-off (marked with red dot)
After that Bitcoin is trying to break the local resistance trendline, which he did. Today.
So in the name of patterns, U shapes, V shapes which Bitcoin loves, the chart says we are going to re-test 9800 zone in few days.
Fundamentally there is few interesting things now.
The FUD news aren't working as they used to work. Back in 2017, 2018, even 2019 every headline with local Bitcoin ban, or similar, reacted as strong sell-off, but not lately.
Last few times I saw the news India or some countries trying to ban Bitcoin, didn't reflect on price at all.
This industry became strong & healthy (margin trading not included), there is still lots of manipulations. Overall sentiment is "I don't know where the hell Bitcoin is going". Which is good for uptrend.
I'm more scared of fomo sentiment, then I usually back off and observe.
“If you personalize losses, you can't trade.”
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.
“If you personalize losses, you can't trade.”
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.