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BTCEUR

ridethepig | BTC Market Commentary 2019.12.20BTC volumes are impressive and longs starting to follow through notably more aggressive ahead of CME. Even if the Global reflation theme materialises next year, as many are outguessing, while this artificial USD devaluation would help support growth in the short-term, the erosion of confidence in the establishment and monetary system will have significant consequences. When markets realise the Fed has been funding the Whitehouse BTC will effectively become a hedge against governments. Look to buy on dips towards 7100, while a break of 7500 would trigger momentum and further encourage the view. Overall, I see the case for meaningful BTC strength in 2020, but especially if considered versus USD, rather than EUR or GBP - maintaining longs will require patience and tolerance. Thanks all for keeping the support coming with likes, comments, questions, charts and etc. As usual jump into the comments with your ideas and views to open the discussion for all!
BITMEX:BTCUSD.PLong
by ridethepig
7
Just analysed what bitcoin are really doing!Serious im not kidding, im thinking of bitcoin building up some history now. As you can see the chart we have the ABC movement with no really serious waves. as you can see if i put in the waves counted by elliot wave principle i found out that bitcoin made wave 1 and 2 now. Wave 2 is correction wave down to fibb .618 which is normal. after wave 2 you have wave three which reach up to 1.618 of wave 1. wave 3 is an impulsive wave up. now i have my A-E count and if we breach the upp resistance line im really serious about this wave count i think it could explode up. aslo check the stochrsi ready to move long term up. Please like and support by follow me. NOT AN INVESTING ADVICE, GOOD LUCK.
Long
by UnknownUnicorn1920508
1
BTC ... The waiting gameEyes on BTC edging lower and being supported by renewed demand interest. Losses are marginal as we creep into the 6,000 handle with expiries later in the month. Expecting BTC and other major Cryptos to ebb gently higher as we await the macroeconomic backdrop to eventually feeding through into Cryptocurrency strength; given the punitive carry, the bar for maintaining BTC short is high. I find on most models BTC is moderately undervalued - circa 18% versus USD - which is an important leg to the USD devaluation stool. Overall, I see the case for meaningful BTC strength in 2020, but especially if considered versus USD, rather than EUR or GBP - maintaining longs will require patience and tolerance. Difficult to trade, for sure, but I still feel the bigger BTC risk lies to the topside. Good luck all those buying dips in BTC.
BITMEX:BTCUSD.PLong
by ridethepig
4
Bitcoin heading to 6100 XBTUSD6100 is a key whale level, it's been signaled for more than a month now. Yesterday it should have happened, but a short squeeze came first. 7500 was wicked and now ponzi should be back on its original and fair value determination, which is down. 6100 will be reached eventually, hopefully this year. 6100 provides an excellent long entry in return, so you could enter your longs around 6200-6300 if you're impatient. But given the pump that's probably coming after that is a bit bigger than usual, be sure to have a solid liquidation price at hand and don't overleverage that spot -as crazy stuff is bound to happen, as I'm personally suspecting 6100 will be the reversal of trend for some months to follow. But we'll see, won't we. For now I'd be happy to see myself confirmed, as price approaches 6500 again and finalize the move to 6100. Because we trade ponzis and crypto, again, expect this priceline to be very wicky and have a liquidation price that can handle irrationalities in price. Cheers
BITMEX:BTCUSD.PShort
by bigfish15
6
ridethepig | BTC Worm In The AppleBTC - Choppy trading persists - a touch of excitement as we break back above the prior downward sloping trendline from last week, however the market is mindful that $ shorts are becoming more widely expressed and I am awaiting the spillover into BTC via the next key risk driver. Expecting BTC dips to continue to be met with demand/covering interest and a close above 7250 is needed for us to get excited. Largely ignoring broader cryptocurrency gyrations and heavily XBTUSD, EOSUSD, ETHUSD and XRPUSD influenced, intraday. For the execution here we have infamous Worm In The Apple alerts triggered... In usual circumstances it will be a good opportunity for bears to load, however smart money who understand the macro flows in play will ping the lows into year-end. On the longer term chart we can comfortably lean on BTC: Thanks for keeping your support coming with likes and comments! As usual jump into the comments below with your views, charts, questions and etc.
BITMEX:BTCUSD.PLong
by ridethepig
1