Bitcoin is in a rising channelBitcoin is in a rising channel
First we go to 51600 then we have a retest of the line 48083 and then we go to 54210 euro.
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BTCEUR trade ideas
China mining ban announcement by April - Bitcoin surges 9% China's Inner Mongolia will end all cryptocurrency mining projects and stop reviewing new projects in industries which consume large amounts of energy, as it attempts to meet energy efficiency targets. All cryptocrurrency mining projects - which require huge amounts of computing power and hence use large amounts of energy - will be shut down by the end of April this year. Inner Mongolia is an attractive "mining" spot alongside Sichuan and Xinjiang due to low electricity prices.
The region accounted for 8% of bitcoin mining computing power worldwide, China overall, accounted for 65% of the total!!!!
Falling wedge for bitcoinFalling wedge for bitcoin
My price prediction : 42560 euro
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BTCEUR Experiment - Levels of stupidityTop at 48K EUR:
Price was sitting at my top red-striped 'drop' line. I should have sold half of my trading portfolio. I didn't. Instead I made a new chart saying we would go up. That's plain and simple madness.
Rotation point A:
It passed underneath, which meant downward slope. I should have taken action and sell the remaining half, I didn't.
Result:
Bags and no money to buy the dip.
Now I expect price to visit the red line, so I could sell here. But is it worth it? No, I just hodl.
Principle of resonance I'm not an economist, I have an engineering degree. It is just an interpretation. I tried to looked at the chart as it is waves it the water when it is raining. I randomly matched all-time-high peak with fib arcs and notised patern of peaks connecting with other arcs. Of course, the motion of the curve is not random and can be influenced by many factors but I think another peak coud be somewhere the arrow is pointing.
BTCEUR - short term patternthe short term support has been tried and have hold so far. we could see a continuation of the upward trend. Volume will be of prime importance in the next days.
Ascending triangle for bitcoinAscending triangle for bitcoin
Bitcoin shall go to 35550 euro
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1 Week to reach €50kNeed some rep/likes to join the chatroom, just having some fun with the chart, please help me get some rep. TIA
Looking at recent large investments into BTC possible trend pointing to another bullrun as seen after the flat line during the 21st to 28th January. I predict €50k EUR By March 5th.....
BTC predicton for 2021.02.26Take care do not make rusch moves. take it easy on 1 hour at least. Dont look at 1 min chart
BTC/EUR chart shaping a downward triangleBTC/EUR chart currently seems bearish; it looks like a downward triangle with 2 highs and 2 lows. Nevertheless, we might need to wait for the third pair of high/low as confirmation. My guess is that BTC/EUR will offer us better prices to buy soon. The support is strong at €37000 ($44850). Elon's purchase pushed the BTC price up to around this support level.
Despite this looking like a downward triangle, I must point out that the volume at bottom is diminishing, so that might signal a trend reversal to the upside.
I am still a bull and believe that we will still witness the expansion of BTC after this correction. Thus, I haven't flagged this idea as "Long" or "Short".
Descending triangle for bitcoinDescending triangle
Price prediction down : 34730
Price prediction up : 48100
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Even Cathie Wood is bullish on Bitcoin! Replacement for bonds? Cathie Wood just stated she thinks $BTC will take the place of the new 60/40 (bonds) !!
“You think about the traditional 60/40 stock-bond portfolio, but look what’s happening to bonds right now. If we are ending a 40-year secular decline in interest rates, that asset class has done its thing. What’s next? We think crypto could be the solution,” said Wood, who’s the founder and CEO of a family of exchange-traded funds based on disruptive technologies.
Read the full article on Marketwatch (Can't post the link here)
please like, I would like to join the chatrooms and need reputation <3
