greenpasture936
Close this week should be 2-3 thousand higher than the open. Could still see around 57000 high putting us closer to a 10,000 high low week spread. Have a look at my posts in the past. Click on the update. You will see it pays to dwell on the weekly and monthly moves to predict the future. Many thought the sky was falling last Sunday.. 43,000 etc. Wrong. Supply...
Then expected resistance around 57-58 thousand before settling back to find weekly support higher than last week.
Those that want this lower, I understand, however, face the facts. Supply is tight and demand is high.. Institutions did not finally jump into Bitcoin only to trade for 10-20%. They are aware 100,000 to 300,000 bitcoin dollars are coming. Called an inflation hedge.... with the US debt approaching 30 TRILLION dollars. Our new generation is replacing GOLD as a...
It was very obvious what was going on. This weeks low will hold. The 200 moving average will slowly rise. 43000 IS NOT IN THE CARDS!
Look for This week low of 47500 to hold. Do not believe 43000 is in the cards. The 200 moving average is rising. At 4000 now but soon will be at 45000. BITCOIN is not overbought as some would have you believe. I would be looking for 56,000 this coming week.
US Nation debt is approaching 29 TRILLION Increases 25-30 Billion a week so buying crypto into this consolidation fear. After nearly 15,000.00 dollars down, the bitcoin fear people seem to come out of the woodwork. Now, I wonder why that is?
At least what my chart is saying. When most expect a drop...after a 10,000 or more drop...…. the opposite generally takes place.
Expected news has arrived. Feb 16 the news was nearing completion and we all know the move that happened. The news today, "live with sales" , will likely be the start as sales numbers start to make the news. Watching for an open in the 60 cent range. That will tell us just how strong this news is.
It sure looks like news early next week. Sell on news? That did not work out too well Feb 16. Nearly 400% up with no news. Last time we had 300% move up before the Feb 16 news.
Not the vol this time I would like to see but looking good. Always prepared for a hit on stops. Stink bids in case we have mm's that want cheap shares. Drops before Pops can always happen.
Keeping an eye on this one. First wine IPO in several years. Expected to settle in the 20.00 area short term.