This market trading analysis applies to various exchanges, including Bitmex and Binance. Tackling questions like if Bitcoin can reach 20k again and if we will be seeing a crypto currency market recovery this year. Things like the lightning network have provided huge improvements for BTC and while it is true that others like Roger Ver with Bitcoin Cash (bcash) may disagree, I do see these blockchain technology innovations to be very bullish fundamental signs for the space.
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As an investor, i’d say the bitcoin is actually my most profitable financial asset but i have had my very bad bitcoin moments especially during the peak of the bearish market experienced last year. I have been hodling bitcoins since 2014 and it was so fulfilling watching it ride with the bulls but then i lose almost all of it last year. Watching a video on YT got me interested in trading bitcoin but then i lost some more money trying to trade on my own. Thanks to a particular forum online, i got to read about some very successful trader and notable among them was Mark Hall. After contacting him and having a very informative but simple discussion with him, i got to understand all the reasons i had failed by hodling and what i did wrong as a trader. After using his signals and trade strategies for just a few months, i covered my losses of a whole year and made additional significant profit. He is just the best and you can reach him on [email protected] for any questions or inquiries you may have in order to be a more profitable trader.
Cryptocurrency is defying traditional trading. Because of its creation mechanism/aspect.....it's the wild west and has been since the first bitcoin was mined. The only way to trade is to do your homework or be an insider which is alright since the markets exchanges are worldwide and loosely regulated. Want to make money....be an insider.
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8 minutes of the same illogical statement, "we haven't bottomed until we retest previous lows". Literally makes no sense. Previous bear markets didn't have their all-time low tested before trading higher. Traders and analysts do not make such a statement even in traditional markets.
The bullish sentiment represented in the comments here - where the hell does it come from? I dont get it. Okay we could possibly continue the uptrend from here and not go back for testing but thats FAR no reason to stop looking at it critically.
Support doesn’t necessarily mean a number value. So, we could have our bear market low, while still testing the same resistance. It could merely mean a retest of the 200 weekly MA which is now around $3350.
Why would the market makers allow inverstors to buy the bottom twice? And how many times did we test the 6k support before we broke down? By now i don't think the double bottom is bullish anymore. I say either we saw the bottom or the bottom is lower than 3.1k.
the thing is 3100 was the 200 weekly moving average. we did test the 200 wma again in the 8th of February, by that time it was at 3350 level.
This is what happened in 2015 as well, duobble bottom on the 200 wma. and a side way action for few months then bullmarket. it feels like theres not enough bearishness to break the 200 wma since its such a strong support. what you say about that?
bitcoin has a history of doing the opposite of what analysts say MUST happen...I remember people getting caught out in Q4 2013 when it was said that bitcoin MUST go down to $120-130 range and bounce off support (which was previous strong resistance). Bitcoin never revisited those lows again and shot up...a lot of ppl got rekt over that :(
I bought 100 BTC in early 2011 when they were priced at $0.06 each. I knew at the time when I bought them that one day they were going to be worth a fortune. I can remember telling my wife exactly that, and she agreed with me. But the thing is, what I didn’t expect was for it to happen so quickly. I didn’t even think it would happen in my lifetime, I thought it was probably going to happen in my children’s lifetime. But, there was a lot going on at the time, our house had a dry rot problem, I had a lot of bills I needed to pay and debts I needed to pay off. So, I sold the 100 BTC I had on MtGox when the price was $4. I thought I would have plenty time to buy back in again. Shortly afterwards in 2013 the price rocketed up to $1,200. I had just lost out on $120,000. It was hard to bear as like I said, I knew they were going to be worth a fortune. I lost interest in bitcoin until its all time high of $20,000 where i bought 6 BTC which i saw crumbled to a mere $6,000. Bitcoin has burnt me twice but i kept faith and wasn't going to sell again like i did. This time around, i decided to try trading which i researched on until i met Barry Goddard *([email protected])* . Trading with his guidance has been my turning point and i pay myself every 2 months from the profit i make as a trader using his daily signals and trade patterns. That way, i earning continuously and i am not concerned about price fluctuation, bulls, bears and the unpredictability in bitcoin as my profit margin exceeds 400% ROI. His system is one of the best and by far the easiest to adopt.
I have to slightly dissagree with you , yes i think we have to retest but not the 3100 but more the 200 weeks ema (the 3100 usd was only a test of this) and in the next 1 or 2 days 20w ema and 200w ema will collide and decide if it breaks down or up and will give a clear INDICATION if the bear market is over.
It's how Technical Analyists hedge their predictions "If this happens, THEN this happens. And if this happens, THEN this happens". Then when the market inevitably moves either way then they say "see I told you that this would happen". You can always be right.
There was no retest of the $150-$175 bottom in 2015. You might call that a wick if you want. But just as btc retested $200, then why can't you call retesting $3400-$3500 sufficient. The chart would look the same in both cases.
I've been following a pattern that's been 100% accurate for over the past year now. According to that pattern we still have a leg down. Prolly to around $1800 and that's where the accumulation faze starts. Been in a short from $3886 by following my own TA. Riding that short to $1800. Watch
Yo man calm yourself. I was just giving him some credit for a logical TA. I don't necessarily think we gotta double bottom for the new bull run to start. We never double bottomed in 2015 so we don't have to double bottom now. I kinda just wanted to make fun of bitcoin fund manager and his retarded bam head and shoulders TA.
Usuell your TA are excellent, exzept this one. Its wrong to say we have to rettest 3100 befor a bullmarket can start. See please The bearmarket 2014. 2014—1—14 T 163.88 C 176.84. this low was never retested, the bullmarket began 8 month later. Best regards Herbert
+Brad Franklin they've already been pumping. ENJ went from 4¢ to 26¢. If BTC tests lows I'll short it at Bitmex. And then I'll have a really nice long to start the bull Market. I just don't understand why he all the sudden mentioned why BTC needs to go back to $3200 today... He's had 3 weeks to say this. Why was it so important?
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