BTC has been running since reaching its current low. We're now at a 160% gain from the recent bottom and we're 3 days away from the halving. We're being extra cautious here on a couple of levels as everyone again appears to be in euphoric mode.
Possible scenarios:
1. Bearish
One unpopular possible scenario is that the BTC halvnening is priced in. We've known this was coming and the whales have been accumulating. Wouldn't be surprised to see some whales secure profits here and a dip occur. RSI is overbought, we're still inside a bearish downtrend triangle dating back to the 2018 high. We also have the jobs report coming out today and waiting to see how the market reacts to it. People have argued back and forth as to whether crypto and the market are correlated and we have seen reasons for both sides. The last time the market tanked, Crypto did as well. Also makes sense that at times of fear and uncertainty any risky investments generally see a pullback.
2. Bullish
Everyones favorite scenario, is this is the last time we'll see BTC under 10k. I don't think thats necessarily the case just yet but we are bullish at the moment. We just had a 160% run, DMI is bullish, and we just broke the .382 fib levels. To keep this going, we would like to see BTC break out of the triangle, retrace and retest the top for support and then start to take off. We would be buying hard at these levels if this occurs with a tight stop.
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Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Possible scenarios:
1. Bearish
One unpopular possible scenario is that the BTC halvnening is priced in. We've known this was coming and the whales have been accumulating. Wouldn't be surprised to see some whales secure profits here and a dip occur. RSI is overbought, we're still inside a bearish downtrend triangle dating back to the 2018 high. We also have the jobs report coming out today and waiting to see how the market reacts to it. People have argued back and forth as to whether crypto and the market are correlated and we have seen reasons for both sides. The last time the market tanked, Crypto did as well. Also makes sense that at times of fear and uncertainty any risky investments generally see a pullback.
2. Bullish
Everyones favorite scenario, is this is the last time we'll see BTC under 10k. I don't think thats necessarily the case just yet but we are bullish at the moment. We just had a 160% run, DMI is bullish, and we just broke the .382 fib levels. To keep this going, we would like to see BTC break out of the triangle, retrace and retest the top for support and then start to take off. We would be buying hard at these levels if this occurs with a tight stop.
Shoot us a follow and give us a like for more analysis.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Note
We're about 7 hours away from the halving. As expected, Whales took some profit over the weekend with the Oversold RSI. Waiting to see how low we go.
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.
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.