GTWCA-30 | Bitcoin Is Going Up?!
Again, dearest friends
It is Gandalf The White & this is my opinion on the actual cryptocurrency market situation - moreover xbt and ada.
BTC
My dearest friends, bitcoin looks good. Maybe this coin really is in a huge bear trap, hopefully simply not in a bull trap. Many bearish weeks behind us - bullish movement is important and needed. Looks like btc broke through the resistance - we still have to wait a bit. Xbt should not drop below 6000$ again.
Btc still is around 6500$ - did not increase too much since last week. It is below the Ichimoku Cloud and the relevant 0.618 Fibonacci level.
Tradingview chart - XBT/USD, daily, Kraken - one month ago:
Click on any image for a bigger version of it
Three weeks ago:
Two weeks ago:
Last week:
Today:
Explanation:
Again, the price scale on the right (orange number pictures the current price), time scale on the bottom (trading volume right above), seven new candles, two black horizontal Fibonacci lines (higher one is the 0.5 mark, lower line is the 0.618 mark) and lastly the Ichimoku Cloud (red shaded area) with its lines (turquoise, blue and orange).
No adjustments since last time respectively just look at the two previous graphs - moreover at the two (respectively three) green support lines. You can see the possible bear and bull trap. Let us hope for a bear trap.
The other lines:
- Red resistance lines
- Orange ABC Elliott Correction Wave
- Turquoise and blue 1, 2, 3, 4 and 5 Elliott Impulse Waves
ADA
Another time quite similar to btc. Current price: ~0.14$ - no real increase since my previous #gtwca. Ada is under the cloud as well.
Maybe btc did it, maybe not - only time will tell. If it does not fall again/too soon btc definitely could pass the 7000 and 8000$ area. We will see.
If you have any questions - simply ask. I would be glad to help you out.
As always, do not trade with emotion and do not lose money! ;D
Yours truly,
Gandalf The White
PS: Sorry for my bad Kyrgyz.
I am not a financial advisor - everything here is for informational purpose; only my own opinion! Always do your own research!
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#cryptocurrencies #cryptos #alternativecoins #altcoins #alts #cryptomarket #cryptocurrencymarket #cryptocurrencymarketanalysis #steemit #money #blockchain #trading #hodl
#ada #cardano
Bitcoin (and all significant crypto's with some extra features with it) constantly.
It just falls from time to time, just cleaning the house of those who can't take risk and loss.
Dear multialtcoin.com,
No, that is not true at all my friend. Just take a look at the history (eg. of btc). It falls and goes up again, as long as there is progress and moreover supply and demand. Like in pretty every market.
Nevertheless, this is true "just cleaning the house..."; some people lose others win, that is how it goes. After such a big hype there has to happen a correction.
Yours truly,
Gandalf The White
Almost all BTC is already mined. Mining block rewards will get smaller and smaller. Mining is expensive.
In 2012-14, it was easy money for early adopters. Nowadays, you don't buy Pizza with 5000 BTC :)
Offer is almost constant (mining reward dropping, almost zero emission of new coins) but the real life business demand for BTC is growing (just not confidence of traders).
Price will go up.
Not completely correct but I believe I know what you mean. And I think that is right, mining is not for everyone because it is not cheap.
True but it still is not too late. Nowadays you only need a fraction of that. ;D
Yes, you are right, partly.
However, it still looks good my friend.