Simple Technical Analysis on BTC; follow-up to previous post.
About three days ago I posted at the time what I thought would be the route to follow for BTC; this post is written as a follow up on such a post.
As mentioned, here again, this is simple straight forward technical analyses. No fundamental or know-how of the finances of market at all. I do believe that all the HISTORY of a commodity is already there embedded in the charts; so why look somewhere else?
In any case, today I dare to say this:
The target of 3000 still stands NOT TESTED yet. Be ready, if it breaks it, jump on, otherwise might want to consider going short.
The large volume of transactions was a good signal of acquisition; gives some tranquility to those holding the asset. (today July 21st, volume so far is kept below yesterday’s high which is a good signal)
The large change in price for the asset say the market is looking to ascertain a better value for their money – i.e. willing to pay more for a higher ROI.
Remember, as before, I say:
S = support
R = resistance
V = volume
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I also bought about 8btc
I'm looking forward to btc going through the sky.
Certainly interesting days ahead!! Let's hold on and hope for that breech of resistance!!
what I am looking for is a strong break of the 3000 ... if it goes through next resistance is the sky .. who knows?? if it bounces, humm market in doubt. Txs. Cheers.
Good nes we have :)
https://steemit.com/news/@niceviewsua/antpool-and-bitcoin-com-began-to-procure-blocks-with-segwit-support
yeap nice ... still I do see all history for the asset in the charts ... perhaps yesterdays increase was preamble for good things to come ... LOL ..
Yes.. nice chart. Same as mine. But I'm not thinking it will go higher for bitcoin this time around.. should be several month. Although it seem to be going up few days Ago. It still time to go ranging.
Absolutely; that is the purpose of keeping on eye on the charts. All is there. I do not think it will go higher, just look how the charts acts and take action accordingly. If it breaks resistances buy, otherwise short or stand on the sidelines. Cheers.
My theory is that it will double every six months.
I know little about bitcoin, so hope this article helps, everyone, success is always for you.