GTWCA-50 | Bitcoin Still Controlled By Bears!
And again. Hello my dearest friends.
I am Gandalf The White and this is my opinion on the actual crypto market situation – talking about btc and ada.
BTC
And bitcoin keeps going down. Next support at 3,500$. A few days ago I have started to short the market although it was quite sketchy. Now it is even riskier. You have my apologies for forgetting to mention my future trading plans in my last #gtwca, my dearest friends. I simply was too tired (and probably thought btc would bounce, well, our coin did not), I am tired again but I will share my thoughts with you, no matter what. So, I am very sorry. You still could open a new position but do not forget to place your stop loss! I have already partly closed my position. I really hope xbt soon will go up "again". The chart already made a new all time low of this correction. Unfortunately, the graph did not form a bear trap.
One btc is worth around 4k$ - decreased by around 1.5k. Below the Ichimoku Cloud. Under the Fibonacci levels: 0.618 and (even under the) 0.786.
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:
Price scale at the right (orange number shows current price), time scale at the bottom (trading volume right above it), seven new candles, two green former support lines, red dashed resistance line (actually kind of a support), black horizontal Fibonacci lines (highest: 0.5, mid: 0.618 and lowest: 0.786) and lastly the Ichimoku Cloud (red shaded area) with its lines (turquoise, blue and orange).
I have simply "copied" some parts for this explanation from my #gtwca number 40, more or less.
ADA
Obviously, ada had to form a new atl. Dropping and dropping.
1ada=~0.04$ - a decrease by about 0.02. Under the cloud.
How much further will our beloved cryptocurrency market drop?! Should not be too much, but I have been saying this for quite some time although I always told you and we all (should) know that this is crypto. And crypto is very young, volatile, unregulated, risky etc. However, some worst case scenarios took place (supports were not strong enough) and this is why bitcoin fell, once again. Big whales out there. I still wish the price finally would start going up. I guess, we can only wait and see. Our price graph highly probably will not reach 15k$ this year, presumably 10k$ neither.
Most importantly, this is my 50th #gtwca. Time flies, my dearest friends.
I am still very busy and hardly find time for crypto and Steemit which is very sad. However, in the coming weeks I will try to do something 'special' for my great followers, like a recapitulation or something similar.
Biggest thanks to these amazingly loyal and great friends: @solominer, @culgin, @steem-oracle, @vietthuy [Is this a bot or second account from you @culgin my kind brother? If you (@vietthuy) are a different person then please forgive my ignorance.] and @sbi4 (thanks to the genuine @steem-oracle).
Give them a follow.
And of course thanks to all the other steady, nice and new upvoters.
If you have any questions (for example on coins, technical analysis, buy/sell options,...), just ask please. I would love to help you.
You know what I am about to write: Trade safe and stay strong, my dearest friends! (;
Yours truly,
Gandalf The White
PS: Sorry for my bad Afar.
And I am not a qualified financial advisor or anything like that - everything here is for educational/informational purpose; only my own opinion! Always do your own research.
#gtw #gtwca #gandalfthewhite #cryptoanalysis
#cryptocurrencies #cryptos #alternativecoins #altcoins #alts
#cryptomarket #cryptomarketanalysis #cryptocurrencymarket
#steemit #money #blockchain #trading #hodl #tlotr
#ada #cardano
Hello my friend. Hope you are well. @vietthuy is a close friend of mine and she is following all my votes by using SteemAuto :)
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Hello fellow. I am fine, more or less. Thank you, I hope you are fine too.
Alright, thank you for clarifying this point. I think, I have never heard of SteemAuto before. Would you be so kind and explain it in a (few) sentence (-s)? Only if you want to, my friend. (:
Sure thing my friend. SteemAuto is a service provided to help people vote and collect rewards automatically. There are certain options you can configure and it is basically a productivity tool on Steem
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Thank you culgin for this short and helpful answer. Now I understand.
@culgin
I love SteemAuto! Probably my most useful Dapp.
I think I jinxed it saying it could go into the high hundreds. I still think thats a possibility.
I really hope not as most of my masternodes will become unprofitable at that point, and im already having to make changes to their tiers right now just to stay in the green.
Haha, no you did not, my friend. It is still highly probable to do so but the more bitcoin decreases in prize the longer it will take to moon.
Yes, I looked at your posts and watched some videos concerning your node positions. It is pretty sad/demotivating to see this happen but we have to be strong and make the best of it - these hard times.
I really hope btc's current support is strong enough and makes the price go up again.
@gandalfthewhite
Yeah I didnt really care when people complained about the price dropping from 20k to 10k or even down to 5k. But below that infrastructure starts suffering. Im sure some die hard enthusiasts will keep mining. But most miners that are business minded will stop.
Actually, the correction really was necessary but I had never thought that it would be this extensive (below 5k "caught me a little off guard").
I completely agree with you, my friend.
I really hope btc is going to bounce instead of making a new atl.