BTC hourly consolidation Bull breakLooking for hourly consolidation to remain intact.
Break in vol was one big thing i liked
will stop out if hourly is broken
Btcetf
Bitcoin ETF to skyrocket the market to $38000 as Gold did?This chart displays the similarities on the trading patterns of the historical price of Gold before and after its ETF approval to Bitcoin's historical price in anticipation for its ETF approval decision.
On March 28, 2003, the first Gold-backed ETF was introduced. The result was a +460% rise on Gold's price that reached $1920.80 on September 2011. Gold's pattern prior to the ETF launch looks very much like Bitcoin's current chart after its all time high near $20000. We see the same volatility runs as gold had in the 1980s. Both had a sharp decline of 65-70% following their all time highs. A key parameter to consider of course, is that Gold’s transition took place within a 20-year cycle, while Bitcoin's occurred within a year, with this fast pace attributed to demand and supply. The similarities are indeed impressive.
Assuming that Bitcoin's ETF is approved, market psychology may suggest that a similar pattern will be followed. This is translated into roughly $38000 in late 2019 (532% increase since February's lows).
It should be mentioned of course that we are talking about different market sizes. The value of all the Gold that's ever been mined exceeds $8 trillion. The value of all the Bitcoins that have ever been mined is $76 billion. This may indicate however Bitcoin's upside potential.
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BTCUSD BTFNX thoughtsI would like what currently I'm scared of on current graphics.
Let's start with indicators analysis. As for me, I see a pretty good perspective for a BTC price. Currently, AO, MACD, Stoch RSI and RSI are awesome, I mean due to a daily chart all of them show that we can expect growth. Might be this could be confirmation that soon we will see the second shoulder and downtrend, but weekly charts are also good, due to indicators AO, MACD, Stoch RSI, and RSI are positive, also there is a huge bullish divergence on weekly MACD formed from 22 Jan 2018 with the first extremum on 14 Apr 2018 and second on 18 Jun 2018.
But we have to be aware of the H&S pattern which is rather a strong pattern, due to indicators I'm 75% sure that we will see growth to the second shoulder. Soon we will see growth confirmation or the H&S, so be careful with it, and do not forget to set stop.
As for me, I see a good perspective for a growth, let's say that I don't believe in a rapid growth, but I believe in a couple month growth. Due to the news, we have to expect good news in a couple of months ahead. Starting with CBOE BTC ETF verdict on 30th September, Nasdaq is about to add crypto trading on Gemini architecture in the second quarter, Intercontinental Exchange (ICE), who own NYSE said that they are working on a BAKKT platform for exchange crypto for USD and BAKKT will be fully regulated. All of this is just a tip of an iceberg, lots of new positive updates are coming.
Few words about crypto regulation in the USA.
So, I don't think that people who work at the ICE, Nasdaq and other companies who work in a crypto sector are that stupid to invest that kind of money and not be sure that everything is going to be ok)
I expect for a good perspective for a crypto in upcoming months.
BTW I think current problems around crypto in the USA because of low volume on BTC futures.
The slow run to $4k, before ETF takes us to the moonMany insist that a bull run is "long overdue", but with the previous epic bull runs in mid-2011, early 2013, late 2013 and late 2017, we have a history of one to four years between each moonshot. Although we all know anything can happen in crypto, we can also look at what is most likely:
It is less than one year since the last epic bull run, making anything before 2019 quite "early"
It is widely expected that the various upcoming ETF application decisions will be postponed until Feb/March 2019. This will be very bearish news.
The expiration of BTC Futures always coincide with a bearish few days... the next few months have at least five of these expiring - equals more bearish pressure.
Bitcoin only costs around $3,000 to mine in China, where around 70% of all new Bitcoin are produced. Hence we can easily drop to $7k, $6k, $5k, maybe even $4k. On this day last year Bitcoin was $2855 and had never been higher - therefore all these values represent long term progress for BTC.
This drop to a nice cheap Bitcoin would then coincide with the (hopefully) positive decision for the SolidX/VanEck/CBOE Bitcoin ETF application in late Feb/early March 2019... which will likely be the catalyst we need for our next moonshot to $50k and beyond.
How many Bitcoin will you buy if we hit $4k?
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Beautiful Bull Flag for Cardano ADA breaking out July 22ndGorgeous full flag forming for most coins including Cardano and BTC. I'm focusing on Cardano and Stellar being my top 2 of the Coinbase 5 team.
For Cardano I'm dollar cost averaging my way down to 16 cents. We should see a slight pull back before beginning wave 5 according to this bull flag in progress.
I am feeling very confident on this move because how symmetrical the flag is.
ETA would be 6am PST for starting of the move with confirmation at 2pm PST.
Best of luck traders!
*** This is not financial advice, merely showing my trades for educational purposes. Do you OWN research ***
