BTCEUR trade ideas
BTCEUR - short term prediction - Weekly updateBTC stays bullish and confirm my prediction of last week. We are seeing higher highs and higher lows to signify a growth in the price even if not at the fast pace at which BTC have made us accustomed to in the last months. This almost sideways trading is good to create a strong support level in the range 41 to 43 thousands. the next resistance appear to be around 44/45K but should be easily achievable if the sell off have really stopped as it seems. overall the upward trend is continuing and we will see soon BTC at 50K EUR.
Limbo action on BTCHello wonderful person!
I have added my thoughts into the chart, hoping this will be quicker to read and understand than a wall of text.
Just some pointers are that the first Fib retracement is added from the very start of this first upward price action (First trend).
The second fib is actually a Fib trend extension that measures from the first correction and up to the top afterwards, and then to the 2nd correction. I will use this one to spot new resistant lines and support, but compare with the first fib retracement.
Stay safe and good luck trading!
Bitcoin still in downtrend channelBitcoin still in downtrend channel
At this moment we have support on the 38836 line.
If we break that line maybe we have support of the 200 MA at 38259 line.
If we break the line we go to the purple support line 37635.
If we break that line we go to 35771 support line.
And if we break that line we go to 33968 line.
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BTC about to cool down? (First analysis - please give feedback)My first trend analysis. It looks like the parabola below was supporting the graph until the roof was hit the second time at all time high. I guess the price could tumble now since the parabola was broken, but I’m not very experienced in 1: creating these support lines and 2: interpreting them.
Please give me some feedback.
Updated prediction after recent correction. BTC still bullish As we see with each drop, some bad news started with Elon Must saying the price of BTC and ETH was too high. On the next day both the BBC and Bill Gates said on separation occasions that they were anti BTC due to environmental issues. Yet more and more banks diving in with now Citi Group suggesting BTC could become the future global currency, with luck we move to the next ATH within the next two weeks.
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!!!!