Actually, we have 0 signs of a reversal, no trendlines broken, no higher highs, no volume, the mini pumps are mainly dead cat bounces in the fib scale, the only thing that is keeping us at these levels is the 200 weekly MA, which is normally what supports us and is normally the end of the bear market, but, we never had such a massive bull market has this one, this MA normally breaks after huge bubbles,the last 2 time it broke was in the dotcom bubble and the house market bubble, and BTC just went through one of the biggest bubbles it ever had...
If you look at all the other bear markets, they normally go to the previous ATH, that would mean we would actually retrace to 1100$ on this one, I'm not expecting us to go there, but if we did, or even to 1800$ which is another strong support, that would be a huge difference in the long term... in the investment department
Let's do the math, if you invest 1k at 3200 and btc goes to 100k, you gain 31k...Now if you invest 1k at 1.8k, you gain 55k, an extra 20k, I'm just saying, it's better to wait for the reversal of the market, which is pretty easy to spot, no need to invest now without any clear signs of a reversal...
If you invest on the way down you will have an average price above of the one if you would have if you invested with everything on the confirmation of the reversal, really... if you don't want to read the post, let me just put an image here
Look at the image, that is the 2014 BTC bubble, the box is the price that I would have bought in if I used this method, which is 40% of the bottom, not very much tbh...
The only reason why I'm trying to push this is because we don't have that much good TA on STEEM, and most Steemians know next to 0 on when to invest, I'm trying to teach people when the best time to buy in is, maybe we have already hit bottom on this bear market, we don't know yet, we would only know when we do that breakout and confirmation of the trendline, but at least, if some of the Steemians learn that, they can be better prepared for the next bubble!!
And, I know u are an investor, just like me, so, if you learn this you might be able to make the right decision in the next bubble, which is the buy on the Trendline breakout method!
Sorry for the huge response :P Just wanted to teach you that since I know u are a smartguy and might learn and apply that knowledge in the future :D
I have a light interest in technical analysis, but I have an even stronger interest in exiting fiat and proving to the cryptoverse that I'm here for the long haul.
Regardless, this is good information to know and obviously relevant to the OP.
Still not enough data to know with 100% certainty if we have or not, we have the 21MA above us which has been making us dump at every pump since January 2018, we haven't broken any trendlines, we have the 1W stoch RSI at an ATH which is like loading a pistol with a dump bullet, last time we were this high in the stoch RSI was in January 2018 before the bubble bursted, the only thing hodling us up atm is the 200MA weekly, which I don't think will hodl. I'm expecting us to see 1800$ very soon (3 weeks max), we still have 1 more pump to close the CME future gap at 3950 and the daily stoch RSI is at the bottom which is like loading a mini pump bullet.
Don't know if I explained it well enough, the most probable scenario atm is for a pump to 3950 and a massive dump to 2.2k-1800$... If you want to know how to spot a reversal come by my blog and read this one, and this one, the first one is the simplest way there is to spot a reversal in the market to bull market, and it is what big investors with millions of dollars use to know when to buy in.
Im honestly not really into technical analysis, neither do I really care about it.
I think it's just a very little part. That's because Bitcoin is the first of its kind. There was nothing even close before and therefore I dont think you can apply stock market analysis to it.
But what do I know, Im only 20 years old and wait for months now for a good entry point.
Thanks! I always try to provide the best content for the blockchain... the words we write and the posts we make are going to be coded in a blockchain for all eternity or at least until the blockchain dies, so it must of the best quality I can make :)
Actually, we have 0 signs of a reversal, no trendlines broken, no higher highs, no volume, the mini pumps are mainly dead cat bounces in the fib scale, the only thing that is keeping us at these levels is the 200 weekly MA, which is normally what supports us and is normally the end of the bear market, but, we never had such a massive bull market has this one, this MA normally breaks after huge bubbles,the last 2 time it broke was in the dotcom bubble and the house market bubble, and BTC just went through one of the biggest bubbles it ever had...
If you look at all the other bear markets, they normally go to the previous ATH, that would mean we would actually retrace to 1100$ on this one, I'm not expecting us to go there, but if we did, or even to 1800$ which is another strong support, that would be a huge difference in the long term... in the investment department
Let's do the math, if you invest 1k at 3200 and btc goes to 100k, you gain 31k...Now if you invest 1k at 1.8k, you gain 55k, an extra 20k, I'm just saying, it's better to wait for the reversal of the market, which is pretty easy to spot, no need to invest now without any clear signs of a reversal...
If you invest on the way down you will have an average price above of the one if you would have if you invested with everything on the confirmation of the reversal, really... if you don't want to read the post, let me just put an image here
Look at the image, that is the 2014 BTC bubble, the box is the price that I would have bought in if I used this method, which is 40% of the bottom, not very much tbh...
The only reason why I'm trying to push this is because we don't have that much good TA on STEEM, and most Steemians know next to 0 on when to invest, I'm trying to teach people when the best time to buy in is, maybe we have already hit bottom on this bear market, we don't know yet, we would only know when we do that breakout and confirmation of the trendline, but at least, if some of the Steemians learn that, they can be better prepared for the next bubble!!
And, I know u are an investor, just like me, so, if you learn this you might be able to make the right decision in the next bubble, which is the buy on the Trendline breakout method!
Sorry for the huge response :P Just wanted to teach you that since I know u are a smartguy and might learn and apply that knowledge in the future :D
I have a light interest in technical analysis, but I have an even stronger interest in exiting fiat and proving to the cryptoverse that I'm here for the long haul.
Regardless, this is good information to know and obviously relevant to the OP.
hey buddy! :)
do you think we already bottomed?
Still not enough data to know with 100% certainty if we have or not, we have the 21MA above us which has been making us dump at every pump since January 2018, we haven't broken any trendlines, we have the 1W stoch RSI at an ATH which is like loading a pistol with a dump bullet, last time we were this high in the stoch RSI was in January 2018 before the bubble bursted, the only thing hodling us up atm is the 200MA weekly, which I don't think will hodl. I'm expecting us to see 1800$ very soon (3 weeks max), we still have 1 more pump to close the CME future gap at 3950 and the daily stoch RSI is at the bottom which is like loading a mini pump bullet.
Don't know if I explained it well enough, the most probable scenario atm is for a pump to 3950 and a massive dump to 2.2k-1800$... If you want to know how to spot a reversal come by my blog and read this one, and this one, the first one is the simplest way there is to spot a reversal in the market to bull market, and it is what big investors with millions of dollars use to know when to buy in.
Im honestly not really into technical analysis, neither do I really care about it.
I think it's just a very little part. That's because Bitcoin is the first of its kind. There was nothing even close before and therefore I dont think you can apply stock market analysis to it.
But what do I know, Im only 20 years old and wait for months now for a good entry point.
I will still look at your posts :)
I really liked your articles. Got a new follower ;)
Posted using Partiko Android
Thanks! I always try to provide the best content for the blockchain... the words we write and the posts we make are going to be coded in a blockchain for all eternity or at least until the blockchain dies, so it must of the best quality I can make :)