BTC Failed to hold 50k #throwback
Updated
(I'm reposting this because I just got hit with the house rules, didn't know that I can't put donation info which was considered as advertising.)
Eventually I drew this chart and predictions on 3rd Sept 2021 and hasn't changed except for horizontal lines for support n resistance, so this is kinda like a throwback. To prove this, I have the tradingview link/image saved on that day. (tradingview.com/x/gdwMEVQi/)
So now, basically here's what happened - BTC pulled back and able to broke upward through KEY LEVEL but unable to hold it to stabilize, and then with all the news, sentiments and belief (bs) that ppl think September is a dump month for BTC ... hence the flash crash on 7th Sept wiping out 400B.
Fundamental Analysis:
I believe there's a couple of reason and many of you would've read by now. Basically it's the BTC adoption in El Salvador, Microstrategy's new purchase and announcement, JP Morgan and etc.
Technical Analysis:
Predicting that it may fail to go upward, I had drawn a curve line dipping towards 38k on 16th October 2021. This would be the cup pattern, so the handle pattern will come next and we shall see then if we could break 50k again.
See you guys until then. I'll try to write more ideas for other coins as well.. pls do follow me, like my ideas if you want me to do more. Give me some encouragement haha
Eventually I drew this chart and predictions on 3rd Sept 2021 and hasn't changed except for horizontal lines for support n resistance, so this is kinda like a throwback. To prove this, I have the tradingview link/image saved on that day. (tradingview.com/x/gdwMEVQi/)
So now, basically here's what happened - BTC pulled back and able to broke upward through KEY LEVEL but unable to hold it to stabilize, and then with all the news, sentiments and belief (bs) that ppl think September is a dump month for BTC ... hence the flash crash on 7th Sept wiping out 400B.
Fundamental Analysis:
I believe there's a couple of reason and many of you would've read by now. Basically it's the BTC adoption in El Salvador, Microstrategy's new purchase and announcement, JP Morgan and etc.
Technical Analysis:
Predicting that it may fail to go upward, I had drawn a curve line dipping towards 38k on 16th October 2021. This would be the cup pattern, so the handle pattern will come next and we shall see then if we could break 50k again.
See you guys until then. I'll try to write more ideas for other coins as well.. pls do follow me, like my ideas if you want me to do more. Give me some encouragement haha
Note
Hi everyone! Just a little update here... Fundamental Analysys:
Currently BTC dropped til 44k. It's losing strength and El Salvador is not helping either by announcing they bought the dip and now owns 700 BTC. For me, that only means 700 BTC are locked forever as a 'centralized' coin in that country.
Technical Analysis:
Weekly chart showing a beginning of decline. RSI and MACD are trending downward.
I will post a new idea following this one soon. Stay tuned, like and follow me!
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