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Double Top on Bitcoin ? Were hearing bullish news for bitcoin left right and centre, all youtube moon boys calling $100K BITCOIN But imo why would institutional investors pay high prices for bitcoin when they know they can easily manipulate the market. Thinking overall we have had a 266% price increase since the corona dump in March with no real correction, And i'm pretty certain large investors would have heard the paypal news weeks or months ahead of us and they will be looking to take profits to buy back in at lower prices. We also failed to close above this key resistance on the monthly TF, also we have made a 100% retracement from previous highs. And can we really use 2017 price action in our TA ? We all know it was FOMO that caused that rally every Tom Dick and Harry wanted their piece of the pie back in 2017, But right now I still don't see mum and dad investors piling in. What's your thought ?
BITSTAMP:BTCUSDShort
by steevyp2820
3
Pumped for the big Bitcoin Pump - BTC Adoption and thoughtsBitcoin is 11 years old and is already changing the world of finance. I see Bitcoin reaching it's previous All Time High by March/April of 2021. If it happens sooner or later, that's fine. I'm confident this is only the beginning for Bitcoin. In July 2020, we finally broke out of that nasty bear trend going back to the high from December 2017. We retested that trend in August again (which is a healthy move), but have since moved and stayed above it. That was painful and took soooo long! Let's please just skip that dreadful time of life next time around. Bullish feels so good! Go ahead and take a moment to appreciate those who have been able to hold on for these last few years of the journey. There's a chance we stay in a long term equilibrium pattern on the monthly, but we are close to breaking a big resistance of $13,868 and if we do, then the all time high of $19,891 is in sights. After that, it's time to buckle up. With all the positive news and infrastructure growth in this space, things are looking bright. Yes, I expect some big drops along the way, in particular after we break the all time high, but long term, things are looking positive. Adoption!!! We will continue to see companies and other institutions pouring money into Bitcoin. In the grand scheme of things, it is a gradual inflow right now, but this trend will continue to gain momentum. There is quite a bit of recent news on this matter: - Grayscale is currently purchasing 77% worth of all the newly mined Bitcoin supply, an amount that has increased every quarter this year. I can't wait for a few more halvings. Remind me again what happens to Bitcoin price when the supply gets cut in half, and then half again, and literally 1 company is buying more than is being create. The word UP is coming to my mind for some reason. - Companies like MicroStrategy ($425 Million) and Square ($50 Million) are choosing to hold Bitcoin as an asset over holding cash. Every few days now we are hearing about more companies choosing this path. - Paypal is bringing Bitcoin exposure to it's 350 Million customers world wide to be able to Buy/Sell/Hold and make purchases with Bitcoin. Regardless how many new customers this may bring in (hopefully the fees will be lowered once there is more competition) the effect of incorporating bitcoin into PayPal's wallet is pretty major. - Central Banks are taking a serious look into Central Bank Digital Currencies. 1 out of 5 central banks have said they plan to incorporate digital currencies within 1-3 years. I don't imagine the United States has a lot of incentive to move forward quickly with this, given the Dollar being the dominant world currency, but it's going to happen eventually. - Banks have been given permission by the Office of the Comptroller of the Currency to begin holding digital currencies. I imagine this is to allow for the digital dollar once this becomes the norm, but it also allows them to hold Bitcoin. Do you remember when banks like JPMorgan called Bitcoin a fraud just 3 years ago but now are predicting a $30,000 price for Bitcoin. Hey, even banks know that their direct competition is going to make them money. Speaking of money, who wants some Stimulus Money!?! I believe the answer to that should be anyone who wants to see another surge in the Bitcoin price. How many of you in the Crypto space added to your portfolio after receiving your stimulus check, or maybe even as soon as you heard that you were going to receive the stimulus check in the coming weeks. How much more did you make by choosing to invest some portion of it in Bitcoin versus holding it in those 0.01% super charged savings accounts we're all so excited about ;) Well, most believe a second stimulus check is likely to happen again at some point. Get ready for it! Supply and Demand, and also Inflation: My cash seems to be confused. It is going in the wrong direction! Remember the good old days. The average house used to cost $3,200. A loaf of bread cost 7 cents. Movie tickets were 10-15 cents. Clearly I wasn't alive back then, but I've heard that's how things used to be. Inflation is nasty and it's not stopping. I mean, it's cool and all that money can be magically printed out of thin air, but except for the stimulus checks, that's not going to help any of us. Printer goes brrrrr! Bitcoin has a cap of 21 Million coins. It's a simple statement, but the implications of this are why I chose Bitcoin. Every time someone buys bitcoin and chooses to hold it, guess what... sorry Charlie, it's no longer available for you to buy. You have to find some other foolish person who is willing to sell you their Bitcoin. I understand people trade the trends, and I'm all for that, this is TradingView after-all, but long term I want to be holding my Bitcoin, not getting rid of it. The inflation rate of Bitcoin is now approximately down to 1.8% and will become significantly better with each halving. Fun Fact. There are approximately 46.8 million millionaires. Only half of them would ever be able to own a single Bitcoin. Also, several million bitcoin are supposedly lost forever, and some individuals and companies are already holding multiple percentages of the bitcoin supply. I will again reemphasize there will only ever be 21 million bitcoin. Thanks for checking out some of my thoughts. I'm super excited about Bitcoin and hope there will be many more to join this community soon.
COINBASE:BTCUSDLong
by zwickster
BTC Levels = July 2019 but Weaker - PayPal Hype or Capitulation?Hi all, There is a lot of hype in the markets right now about PayPal being interested in cryptocurrencies, but no one can really understand the impact or direction of the current trends until we get to a stable point in the market with working payment system using the PayPal API. No one really knows how the PayPal platform will even work much less if people using the platform will actually "own" and be able to withdraw the cryptocurrencies has been speculated. Many people are calling for new BTC market highs, how PayPal can open crypto opportunities up to millions of new interested parties, etc. I am concerned lack of fulfilling expectations could lead to market capitulation. Also, lack of blockchain knowledge and market instability is a reason for new users NOT to use cryptocurrencies on PayPal as several similar types of payment platforms are already available for people who ARE interested in accepting crypto payments. One thing I would like to point out is the global position of the markets. The few certain things are: We are at a similar price point as we were in July 2019 Weekly RSI is significantly lower (about -10) than it was back in 2019 leaning towards a weakening market and it is and near overbought ranges Weekly volumes are lower showing a current lack of high volume market movement needed to sustain continued upward movement The last price drop wicked down into the $4K ranges in March of 2020 IF the price fails to move upwards from here, there is a potential to go lower than $4K since the market is showing a weaker side Stay safe and please like and follow! I am a simple market analyst - not a financial analyst fortis Fortuna adiuvat - fortune favors the brave Learn to trade: cliftrade.com
KRAKEN:BTCUSDShort
by jollygreen
3
BTC Injected w/ Bullishness from PaypalMy Fellow Crypto Traders, Appreciate you taking the time to view my analysis, in which I hope you may find it beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing. Also, I’m new to charting game and the crypto/stock space. So, if you have any constructive criticism or tips, please share. Cheers & Happy Trading! ---------------------------------------------------------------------------------------------------------------------------------------------------------------- ANALYSIS: BTC's price action yesterday was induced by Paypal's announcement of Bitcoin custodianship, which has been rumored for months. In most cases, this type of movement to the upside is unstainable, in which results in a deep correction to lower support. However, a player like Paypal, who pulled in roughly $17.77B in rev in 2019 will force the hand of others to follow suit and embrace the crypto space.
COINBASE:BTCUSDLong
by AB_Trading-Intelligence
Paypal short term𝐇𝐢 𝐞𝐯𝐞𝐫𝐲𝐨𝐧𝐞 , Today I am going to analyze the actions of $PYPL (PayPal Holdings) It has a 𝐬𝐭𝐫𝐨𝐧𝐠 𝐛𝐮𝐥𝐥𝐢𝐬𝐡 𝐭𝐫𝐞𝐧𝐝, but that does not guarantee a rise without retracements. He recently offered us an 𝐞𝐧𝐭𝐫𝐲 𝐚𝐭 𝟐𝟎𝟎.𝟕𝟕, with an 𝐒𝐋 𝐚𝐭 𝟏𝟗𝟗.𝟓𝟓 (short-term trading) If you want to invest in the long term, it is not necessary to sell them at that price. A 𝐬𝐞𝐜𝐨𝐧𝐝 𝐞𝐧𝐭𝐫𝐲 would be around 𝟏𝟗𝟑.𝟔𝟖, where it also corresponds to the 𝐝𝐚𝐢𝐥𝐲 𝐏𝐢𝐯𝐨𝐭 and where if the stock wants to go lower, it would find very solid resistance. Here in the second entry if you go short term an 𝐒𝐋 𝐚𝐭 𝟏𝟖𝟖.𝟕𝟎 is ideal. If even so the price continues to fall, it would break the bullish guideline, and would have a free ride to the minimum 𝟏𝟕𝟒.𝟖𝟖 𝐰𝐡𝐢𝐜𝐡 𝐢𝐬 𝐭𝐡𝐞 𝐜𝐥𝐨𝐬𝐞𝐬𝐭 𝐝𝐚𝐢𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭. If it changes direction, the next obstacles to go down would be at 𝟏𝟓𝟐.𝟗𝟔 (𝐬𝐞𝐜𝐨𝐧𝐝 𝐝𝐚𝐢𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭) and 𝟏𝟑𝟗.𝟏𝟔 (𝐭𝐡𝐢𝐫𝐝 𝐝𝐚𝐢𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭) You have to have a plan, whether it goes 𝐮𝐩 𝐨𝐫 𝐝𝐨𝐰𝐧. 𝐈 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐥𝐲 𝐭𝐡𝐢𝐧𝐤 𝐭𝐡𝐚𝐭 𝐢𝐭 𝐰𝐢𝐥𝐥 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐡𝐞 𝐮𝐩𝐰𝐚𝐫𝐝 𝐭𝐫𝐞𝐧𝐝, 𝐭𝐡𝐚𝐭 𝐢𝐭 𝐰𝐢𝐥𝐥 𝐟𝐨𝐨𝐥 𝐚𝐫𝐨𝐮𝐧𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐝𝐚𝐢𝐥𝐲 𝐩𝐢𝐯𝐨𝐭 𝐚𝐧𝐝 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞𝐫𝐞 𝐢𝐭 𝐰𝐢𝐥𝐥 𝐫𝐞𝐜𝐨𝐯𝐞𝐫.
NASDAQ:PYPLLong
by scam2nft
Paypal - Potential Rebound to occurPaypal has fell past a fair bit during the recent selloff, giving opportunity for a potential rebound to occur. We should see rebound patterns to form, reasoning why a rebound may occur; - very strong resistance point between the 178-183 levels. - past the 50MA. - William R has reach oversold region along with the ATR both passing the 80 region mark. we do expect abit of volatility which would like end by this 18 Sep (funds from investors went into the Snowflake IPO) Taken into account that; - Visa & Paypal recently deepen ties allow for instant money transfer - strong P&L + balance sheet - expansion of the buy now pay later with installments plans - net income has been up year on year for the past 5 years target price based on 2 Nov 2020. Lowest Target Price - USD $205 Highest Target Price - USD $225 Disclaimer: Open analysis and for discussion - not a trade advice. due diligence and trade according own personal risk tolerance.
NASDAQ:PYPLLong
by Furball_Machines
Paypal setting up for downside.I have been watching paypal. Nice long term buy for me. Not a swing trade. Chart is showing some downside since Friday 09/11 created a fresh low. Let's see if 50 EMA holds. If 50 EMA does not hold next stop is way far at 200 SMA. Looking at SPY and everything else Monday and Tuesday seems very important. If SPY breaks to the downside then Paypal is sure to move down. Should it get all the way down to 200EMA which is also a 50% retracement for Paypal it's a nice time to pick some up. This is just an opinion. Do not buy or sell based on this post. Do your own home work for that.
NASDAQ:PYPLShort
by Riainvestment
Origin protocol has an all star team. Good time to enter? $OGNFA, - Disrupting sharing economies like Uber, AirBnb - All star team and investors. Includes Yu Pan from Paypal Mafia. Paypal Mafia has to be the most accomplished founding team ever - Team includes engineers,leaders,managers from Paypal, Youtube, Dropbox and other acquired companies. - Investors include Steve Chen(youtube), Alexis Ohanian(Reddit), Randall Kaplan (Akamai), Gil Penchina(Fastly,ebay), Garry Tan (Y combinator, coinbase) - Goal to cut out centralised intermediaries that carve out hefty fees in order to enable true P2P sharing economies. TA, - MACD golden cross 4H - 4H 200ema support - Daily hammer rejection on 120EMA - 0.786 FIB support Good area to start buying but I'm waiting till there's clear signs of the short term trend reversal along with the break of 0.618 level of 0.4364. Interesting to see if it respects the long term wedge support as well
Long
by ashainp