This limbo is proving difficult to predict.
Move your mouse over the anchors to see trend and chart patterns explained.
I am hesitant to say that we will break $20k, because the whales are defending the fib lines vigorously. The only way we will see an upward break is if the selling pressure seizes (if the whales allow). Don't get me wrong - long term I am still bullish on BTCUSD, but for the NEAR term, it is difficult to say.
Making a move now, is blind gambling. There are no clear indicators of where the SHORT and NEAR term is heading. From the indicators it seems that things are moving into a consolidated cluster and from here there are only two options : up or down. Which one will it be? That is like trying to predict the future. Keep in mind we are not talking about the longer term, we are talking short and near term.
So what can we watch?
- Titter and social media (for example threats of regulation or the CEO of coinbase doing some market manipulation)
- RSI
- Volume
- Whale alerts
- Set price alerts
Another thing I also want to point out, is institutions claiming on social media how they have just bought X amount of extra Bitcoin. Keep in mind that they fail to say at which price they bought in. Would they really be so stupid to buy in close to the ATH? I don't think so. Generally this would be considered market manipulation but as crypto is not yet clearly regulated, they can play away.
Keep all of the above in mind and do your own. This is the safest way to make sure that when you decide to make either a short or a long, you have made the decision with all the informational available to you at that time and to your best knowledge. To make a move in limbo without clear indications, is blind gambling.
Thank you for your support and please hit like 👍
Follow me for updates on when I make a post👀
Best Regards
Ev
Move your mouse over the anchors to see trend and chart patterns explained.
I am hesitant to say that we will break $20k, because the whales are defending the fib lines vigorously. The only way we will see an upward break is if the selling pressure seizes (if the whales allow). Don't get me wrong - long term I am still bullish on BTCUSD, but for the NEAR term, it is difficult to say.
Making a move now, is blind gambling. There are no clear indicators of where the SHORT and NEAR term is heading. From the indicators it seems that things are moving into a consolidated cluster and from here there are only two options : up or down. Which one will it be? That is like trying to predict the future. Keep in mind we are not talking about the longer term, we are talking short and near term.
So what can we watch?
- Titter and social media (for example threats of regulation or the CEO of coinbase doing some market manipulation)
- RSI
- Volume
- Whale alerts
- Set price alerts
Another thing I also want to point out, is institutions claiming on social media how they have just bought X amount of extra Bitcoin. Keep in mind that they fail to say at which price they bought in. Would they really be so stupid to buy in close to the ATH? I don't think so. Generally this would be considered market manipulation but as crypto is not yet clearly regulated, they can play away.
Keep all of the above in mind and do your own. This is the safest way to make sure that when you decide to make either a short or a long, you have made the decision with all the informational available to you at that time and to your best knowledge. To make a move in limbo without clear indications, is blind gambling.
Thank you for your support and please hit like 👍
Follow me for updates on when I make a post👀
Best Regards
Ev
