BTC daily:
Yesterday candle showing power, until now we see nothing
more than a bearish retest of previous consolidation. To truly
turn bullish we want to see 4450+.
Two day to go to turn monthly good (4723)
Can the bulls preform a miracle?
https://www.tradingview.com/x/eJu84szJ/
Yesterday candle showing power, until now we see nothing
more than a bearish retest of previous consolidation. To truly
turn bullish we want to see 4450+.
Two day to go to turn monthly good (4723)
Can the bulls preform a miracle?
https://www.tradingview.com/x/eJu84szJ/
Bullish scenario: https://www.tradingview.com/x/IJZfXW7K/
Bullish scenario update: https://www.tradingview.com/x/BzMtaXQt/
This is how perfect setup works 😎
Bullish scenario update: https://www.tradingview.com/x/BzMtaXQt/
This is how perfect setup works 😎
Using coinmarketcap.com is good idea totrack market situation?
This is going to be education post about best source to track data about cryptocurrencies.
Firstly, the best solution is to use at least 2 sources of information because to rely just on one source could be risky.
Coinmarketcap.com is the largest website in the category of cryptocurrency and 5th largest website in the category finance with average monthly views around 80 million.
Considering that, it is very popular in crypto community. We saw a lot of rumours about fake data on coinmarket cap.
To start with, for these that do not know, it is not showing data from all exchanges. It is also not showing data from few countries. For example, it excludes Korean exchanges.
That's why the trading volume is different because it exludes some of exchanges. But market cap is still the same because it depends on circulating supply and current average price on all exchanges. So, the market cap is valid but trading volume isn't because it doesn't include all exchanges.
There is a little bit more info that vary but using coinmarketcap.com and combining with one more is more than enough.
The reason for this post was rumours of fake market cap showed on coinmarketcap.com and comparing it with the market cap showed on https://finance.yahoo.com/cryptocurrencies/ for example.
This is very good source of info too but there is huge mistake. Check market cap for ripple. It shows $40 billion while coinmarketcap.com is showing $15 billion.
Because of that, a lot of ripple hypers started to call coinmarketcap.com fake but the truth is that yahoo finance used total supply as circulating supply and because of that mistake, it shows more than 2.5 times bigger market cap for ripple.
So, to conclude, coinmarketcap.com is good source of info but please consider using at least one more in order to confirm information.
To your success, CS Team!
This is going to be education post about best source to track data about cryptocurrencies.
Firstly, the best solution is to use at least 2 sources of information because to rely just on one source could be risky.
Coinmarketcap.com is the largest website in the category of cryptocurrency and 5th largest website in the category finance with average monthly views around 80 million.
Considering that, it is very popular in crypto community. We saw a lot of rumours about fake data on coinmarket cap.
To start with, for these that do not know, it is not showing data from all exchanges. It is also not showing data from few countries. For example, it excludes Korean exchanges.
That's why the trading volume is different because it exludes some of exchanges. But market cap is still the same because it depends on circulating supply and current average price on all exchanges. So, the market cap is valid but trading volume isn't because it doesn't include all exchanges.
There is a little bit more info that vary but using coinmarketcap.com and combining with one more is more than enough.
The reason for this post was rumours of fake market cap showed on coinmarketcap.com and comparing it with the market cap showed on https://finance.yahoo.com/cryptocurrencies/ for example.
This is very good source of info too but there is huge mistake. Check market cap for ripple. It shows $40 billion while coinmarketcap.com is showing $15 billion.
Because of that, a lot of ripple hypers started to call coinmarketcap.com fake but the truth is that yahoo finance used total supply as circulating supply and because of that mistake, it shows more than 2.5 times bigger market cap for ripple.
So, to conclude, coinmarketcap.com is good source of info but please consider using at least one more in order to confirm information.
To your success, CS Team!
Yahoo Finance
Crypto Currencies: prices, changes, trading volume & daily charts - Yahoo Finance
Yahoo Finance's complete list of crypto currencies offers up-to-the-minute prices, percentage change, volume, open interest, and daily charts.
It is November 30th, 2018
BTC dominance is currently at 53.9% (+0.3%). The total market cap is currently at $139.1 billion (+ $3.6 billion). The market volume of the last 24h was $17.3 billion (+ $3.0 billion).
Fundamental analysis
The market is gaining strength but still struggling to close above major resistance levels on higher time frames.
Two days ago we saw the biggest one day growth in Bitcoin price since April 2018. Also, we are getting a lot of positive news new trading desks being opened that will alows more and more people to invest their money. Check out the links below to find out more about the current market fundamentals.
Fidelity Looking to Expand Digital Asset Trading Beyond Bitcoin and Ether
https://www.coindesk.com/fidelity-looking-to-expand-digital-asset-trading-beyond-bitcoin-and-ether
Bitcoin Sees Biggest Single-Day Price Gain Since April
https://www.coindesk.com/bull-reversal-bitcoin-sees-biggest-single-day-price-gain-since-april
Technical analysis
Daily time frame : https://www.tradingview.com/x/En4aPpUi/
It doesn't make sense to use higher time frames for trading because they were too far from resistance and using only lower time frames was more than enough.
Since we are now testing resistance area on higher time frames, we should skip from lower to higher time frames and wait for confirmation.
As long as we are below this resistance, the market is still quite bearish in general. If we see breaking these levels and close above, we can think of continuation of this short uptrend, otherwise we are going to start descending again.
To you success, CS Team!
BTC dominance is currently at 53.9% (+0.3%). The total market cap is currently at $139.1 billion (+ $3.6 billion). The market volume of the last 24h was $17.3 billion (+ $3.0 billion).
Fundamental analysis
The market is gaining strength but still struggling to close above major resistance levels on higher time frames.
Two days ago we saw the biggest one day growth in Bitcoin price since April 2018. Also, we are getting a lot of positive news new trading desks being opened that will alows more and more people to invest their money. Check out the links below to find out more about the current market fundamentals.
Fidelity Looking to Expand Digital Asset Trading Beyond Bitcoin and Ether
https://www.coindesk.com/fidelity-looking-to-expand-digital-asset-trading-beyond-bitcoin-and-ether
Bitcoin Sees Biggest Single-Day Price Gain Since April
https://www.coindesk.com/bull-reversal-bitcoin-sees-biggest-single-day-price-gain-since-april
Technical analysis
Daily time frame : https://www.tradingview.com/x/En4aPpUi/
It doesn't make sense to use higher time frames for trading because they were too far from resistance and using only lower time frames was more than enough.
Since we are now testing resistance area on higher time frames, we should skip from lower to higher time frames and wait for confirmation.
As long as we are below this resistance, the market is still quite bearish in general. If we see breaking these levels and close above, we can think of continuation of this short uptrend, otherwise we are going to start descending again.
To you success, CS Team!
CoinDesk
Fidelity Looking to Expand Digital Asset Trading Beyond Bitcoin and Ether
Fidelity Investments is looking to expand its institutional crypto asset platform to include trading services for the top five to seven cryptocurrencies by market cap.
It is December 1st, 2018
BTC dominance is currently at 53.5% (-0.4%). The total market cap is currently at $130.9 billion (- $8.2 billion). The market volume of the last 24h was $16.3 billion (- $1.0 billion).
Fundamental analysis
Bitcoin Price Nearing ‘Capitulation Moment’: IG Market Analyst
We would like to point out one quote from this article:
"While casual traders and newcomers are finding their way out of the market, older investors with a longer time horizon are taking advantage of the depressed bitcoin price to acquire more of the asset."
Nasdaq CEO: Cryptocurrency plays a role in the future
https://money.cnn.com/video/news/2018/05/09/nasdaq-ceo-future-technology.cnnmoney/index.html
Technical analysis
1h time frame :https://www.tradingview.com/x/gR0VkigZ/
BTC is holding strongly above 3900 support. We shared in our paid channel yesterday to not panic as long as BTC is above 3900 since it is solid daily support.
Close below 3900 would lead us again to 3600 and more likely to new low. But if we see few more rejections by this support, we may see price again above 4000 and maybe test of previous high (4400).
To your success, CS Team!
BTC dominance is currently at 53.5% (-0.4%). The total market cap is currently at $130.9 billion (- $8.2 billion). The market volume of the last 24h was $16.3 billion (- $1.0 billion).
Fundamental analysis
Bitcoin Price Nearing ‘Capitulation Moment’: IG Market Analyst
We would like to point out one quote from this article:
"While casual traders and newcomers are finding their way out of the market, older investors with a longer time horizon are taking advantage of the depressed bitcoin price to acquire more of the asset."
Nasdaq CEO: Cryptocurrency plays a role in the future
https://money.cnn.com/video/news/2018/05/09/nasdaq-ceo-future-technology.cnnmoney/index.html
Technical analysis
1h time frame :https://www.tradingview.com/x/gR0VkigZ/
BTC is holding strongly above 3900 support. We shared in our paid channel yesterday to not panic as long as BTC is above 3900 since it is solid daily support.
Close below 3900 would lead us again to 3600 and more likely to new low. But if we see few more rejections by this support, we may see price again above 4000 and maybe test of previous high (4400).
To your success, CS Team!
CNNMoney
Nasdaq CEO: Cryptocurrency plays a role in the future
Nasdaq CEO Adena Friedman tells CNN's Poppy Harlow she is optimistic that blockchain, the technology underpinning cryptocurrencies, will play a role in the economy of the future.
It is December 2nd, 2018
BTC dominance is currently at 53.7% (+0.2%). The total market cap is currently at $135.4 billion (+ $4.6 billion). The market volume of the last 24h was $15.1 billion (- $1.2 billion).
Fundamental analysis
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
https://www.coindesk.com/bitcoin-etf-seekers-met-with-sec-monday-in-latest-pitch-for-approval
Dont give up even If you have lost more than 80%
https://medium.com/@tradingroomapp/dont-give-up-even-if-you-have-lost-more-than-80-7b752a558ac5
Technical analysis
Daily time frame : https://www.tradingview.com/x/mEsACmjB/
After BTC hit our long targets, it is time for new trigger etiher for long or short. To remain bullish, BTC has to close daily above 4250.
To become bearish again, it has to close daily below 4150 and form bearish candlestick.
Target for long is 4400 and target for short is 3950.
Waiting for confrimation, tomorrow we expect one more interesting day once confirmation happens.
To your success, CS Team!
BTC dominance is currently at 53.7% (+0.2%). The total market cap is currently at $135.4 billion (+ $4.6 billion). The market volume of the last 24h was $15.1 billion (- $1.2 billion).
Fundamental analysis
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
https://www.coindesk.com/bitcoin-etf-seekers-met-with-sec-monday-in-latest-pitch-for-approval
Dont give up even If you have lost more than 80%
https://medium.com/@tradingroomapp/dont-give-up-even-if-you-have-lost-more-than-80-7b752a558ac5
Technical analysis
Daily time frame : https://www.tradingview.com/x/mEsACmjB/
After BTC hit our long targets, it is time for new trigger etiher for long or short. To remain bullish, BTC has to close daily above 4250.
To become bearish again, it has to close daily below 4150 and form bearish candlestick.
Target for long is 4400 and target for short is 3950.
Waiting for confrimation, tomorrow we expect one more interesting day once confirmation happens.
To your success, CS Team!
CoinDesk
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
VanEck, SolidX and Cboe met with SEC staff on Monday to demonstrate how the bitcoin market is ready for an ETF.
It is December 3rd, 2018
BTC dominance is currently at 53.6% (-0.1%). The total market cap is currently at $131.1 billion (- $4.3 billion). The market volume of the last 24h was $13.9 billion (- $1.2 billion).
Technical analysis
Hourly time frame : https://www.tradingview.com/x/SnFea8NB/
BTC daily close below 4250 triggered short trade setup and we saw drop. Then the support area was strong enough one more time and caused bounce off.
Now for next clear trend, we need daily close below 3850 or 4250 to trade with the trend. Otherwise, we can catch those ups and downs that are developing in this trading range.
BTC dominance is currently at 53.6% (-0.1%). The total market cap is currently at $131.1 billion (- $4.3 billion). The market volume of the last 24h was $13.9 billion (- $1.2 billion).
Technical analysis
Hourly time frame : https://www.tradingview.com/x/SnFea8NB/
BTC daily close below 4250 triggered short trade setup and we saw drop. Then the support area was strong enough one more time and caused bounce off.
Now for next clear trend, we need daily close below 3850 or 4250 to trade with the trend. Otherwise, we can catch those ups and downs that are developing in this trading range.
It is December 4th, 2018
BTC dominance is currently at 53.8% (+0.2%). The total market cap is currently at $125.5 billion (- $5.6 billion). The market volume of the last 24h was $13.7 billion (- $0.2 billion).
Fundamental analysis
The SEC met again with the VanEck SolidX Bitcoin Trust team to discuss a bitcoin ETF.
https://www.sec.gov/comments/sr-cboebzx-2018-040/srcboebzx2018040-4691015-176590.pdf
G20 Agrees to Regulate Crypto, But is This Good or Bad for the Market?
https://www.ccn.com/g20-agrees-to-regulate-crypto-but-is-this-good-or-bad-for-the-market/
Technical analysis
Daily time frame : https://www.tradingview.com/x/5EXjPhkI/
BTC broke 3900 support and if it doesn't invalidate this bearish close today or at least tomorrow, we expect 3600, 3300 and probably 3000 on the way down to be reached.
In the area between 2800-3100 we expect to see major support to be formed. In that case this whole downtrend would find strong support. Breaking that area would endanger short term price of Bitcoin, maybe even long term.
To your success, CS Team!
BTC dominance is currently at 53.8% (+0.2%). The total market cap is currently at $125.5 billion (- $5.6 billion). The market volume of the last 24h was $13.7 billion (- $0.2 billion).
Fundamental analysis
The SEC met again with the VanEck SolidX Bitcoin Trust team to discuss a bitcoin ETF.
https://www.sec.gov/comments/sr-cboebzx-2018-040/srcboebzx2018040-4691015-176590.pdf
G20 Agrees to Regulate Crypto, But is This Good or Bad for the Market?
https://www.ccn.com/g20-agrees-to-regulate-crypto-but-is-this-good-or-bad-for-the-market/
Technical analysis
Daily time frame : https://www.tradingview.com/x/5EXjPhkI/
BTC broke 3900 support and if it doesn't invalidate this bearish close today or at least tomorrow, we expect 3600, 3300 and probably 3000 on the way down to be reached.
In the area between 2800-3100 we expect to see major support to be formed. In that case this whole downtrend would find strong support. Breaking that area would endanger short term price of Bitcoin, maybe even long term.
To your success, CS Team!
It is December 5th, 2018
BTC dominance is currently at 53.9% (+0.1%). The total market cap is currently at $127.8 billion (+ $2.3 billion). The market volume of the last 24h was $13.7 billion (+ $0.0 billion).
Fundamental analysis
Confirmed: Nasdaq’s Bitcoin Futures Will Launch in 'First Half' of 2019
https://cointelegraph.com/news/confirmed-nasdaqs-bitcoin-futures-will-launch-in-first-half-of-2019
Adoption: Binance Users Can Book 450,000 Hotels Using Crypto Token BNB
https://www.ccn.com/adoption-binance-users-can-book-450000-hotels-using-crypto-token-bnb/
Technical analysis : https://www.tradingview.com/x/mIscUICq/
Bitcoin is respecting our price levels again. It broke through our resistance and now it is resting at 3900 area as potential support level.
You can see clearly the triangle it is forming at the moment. The next move is going to happen once we see break from this triangle, either up or down move.
Fundamentally it looks very good. More and more merchants are accepting crypto, more and more big exchanges are offering crypto trading. This is what crypto needs! Once big bull run starts, we will have ev erything ready to gain maximum potential.
To your success, CS Team!
BTC dominance is currently at 53.9% (+0.1%). The total market cap is currently at $127.8 billion (+ $2.3 billion). The market volume of the last 24h was $13.7 billion (+ $0.0 billion).
Fundamental analysis
Confirmed: Nasdaq’s Bitcoin Futures Will Launch in 'First Half' of 2019
https://cointelegraph.com/news/confirmed-nasdaqs-bitcoin-futures-will-launch-in-first-half-of-2019
Adoption: Binance Users Can Book 450,000 Hotels Using Crypto Token BNB
https://www.ccn.com/adoption-binance-users-can-book-450000-hotels-using-crypto-token-bnb/
Technical analysis : https://www.tradingview.com/x/mIscUICq/
Bitcoin is respecting our price levels again. It broke through our resistance and now it is resting at 3900 area as potential support level.
You can see clearly the triangle it is forming at the moment. The next move is going to happen once we see break from this triangle, either up or down move.
Fundamentally it looks very good. More and more merchants are accepting crypto, more and more big exchanges are offering crypto trading. This is what crypto needs! Once big bull run starts, we will have ev erything ready to gain maximum potential.
To your success, CS Team!
Cointelegraph
Confirmed: Nasdaq’s Bitcoin Futures Will Launch in 'First Half' of 2019
The world’s second largest stock exchange Nasdaq has confirmed it plans to launch Bitcoin futures in the first half of 2019.
It is December 6th, 2018
BTC dominance is currently at 55.0% (+1.1%). The total market cap is currently at $111.4 billion (- $16.4 billion). The market volume of the last 24h was $16.2 billion (+ $2.5 billion).
Fundamental analysis
SEC Delays Decision on Bitcoin ETF, Sets Deadline for Late February
https://cointelegraph.com/news/sec-delays-decision-on-bitcoin-etf-sets-deadline-for-late-february
Bets On Bitcoin Price Decline Hit 6-Week High
https://www.coindesk.com/bets-on-bitcoin-price-decline-hit-6-week-high
Technical analysis
4H time frame : https://www.tradingview.com/x/2yN2q72a/
It was very clear on this chart where we are heading next. We saw breakdown, retest of previous support and once price was rejected, it dropped heavily.
We told you to follow this triangle in our post 2 days ago. The triangle is going to determine price movememnt for upcoming couple of days.
Now, it is targeting 2800-3200 area. Once that area gets reached, we expect to see long term support to be established there. If that happens, we can call this healthy correction for future of BTC but if that fails to happen and we see break through this level all the way down to $1800, then it can take a lot of time until new all time high.
P.S. We were offline last 36h and we apologise for inactivity last 2 days. We are back with full power now and we are going to deliver best content for you.
To your success, CS Team!
BTC dominance is currently at 55.0% (+1.1%). The total market cap is currently at $111.4 billion (- $16.4 billion). The market volume of the last 24h was $16.2 billion (+ $2.5 billion).
Fundamental analysis
SEC Delays Decision on Bitcoin ETF, Sets Deadline for Late February
https://cointelegraph.com/news/sec-delays-decision-on-bitcoin-etf-sets-deadline-for-late-february
Bets On Bitcoin Price Decline Hit 6-Week High
https://www.coindesk.com/bets-on-bitcoin-price-decline-hit-6-week-high
Technical analysis
4H time frame : https://www.tradingview.com/x/2yN2q72a/
It was very clear on this chart where we are heading next. We saw breakdown, retest of previous support and once price was rejected, it dropped heavily.
We told you to follow this triangle in our post 2 days ago. The triangle is going to determine price movememnt for upcoming couple of days.
Now, it is targeting 2800-3200 area. Once that area gets reached, we expect to see long term support to be established there. If that happens, we can call this healthy correction for future of BTC but if that fails to happen and we see break through this level all the way down to $1800, then it can take a lot of time until new all time high.
P.S. We were offline last 36h and we apologise for inactivity last 2 days. We are back with full power now and we are going to deliver best content for you.
To your success, CS Team!
Cointelegraph
SEC Delays Decision on Bitcoin ETF, Sets Deadline for Late February
The SEC has delayed its decision on rule change proposals to list a VanEck, SolidX Bitcoin ETF until Feb. 27, 2019.
It is December 7th, 2018
BTC dominance is currently at 55.3% (+0.3%). The total market cap is currently at $108.2 billion (- $3.2 billion). The market volume of the last 24h was $18.1 billion (+ $1.9 billion).
Fundamenatl analysis
‘Don’t Hold Your Breath,’ Waiting for Bitcoin ETF Says SEC ‘Crypto Mom’
https://cointelegraph.com/news/dont-hold-your-breath-waiting-for-bitcoin-etf-says-sec-crypto-mom
When Bitcoin’s Price Breaks Down, It Follows a Pattern
https://www.coindesk.com/when-bitcoins-price-breaks-down-it-follows-a-pattern
Morgan Creek Is Betting $1 Million That Crypto Can Beat the S&P
https://www.coindesk.com/morgan-creek-digital-is-betting-1-million-that-crypto-can-beat-the-sp-500
Technical analyis
H4 time frame : https://www.tradingview.com/x/VPL2nCXI/
After cleaer breakdown, BTC price is consolidating around 3400 price level. If we zoom out, we see clearly that it is targeting next weekly support at 2900-3000 area.
If we check the history, the second news today shared in this update (When Bitcoin’s Price Breaks Down, It Follows a Pattern), shows us something very interesting. Last few years, BTC price always used to create triangle and the outcome was always the same, breakdown. But after that breakdown, the outcome was always the same, uptrend.
Let's see if this time BTC price is going to follow the pattern or not!
To your success, CS Team!
BTC dominance is currently at 55.3% (+0.3%). The total market cap is currently at $108.2 billion (- $3.2 billion). The market volume of the last 24h was $18.1 billion (+ $1.9 billion).
Fundamenatl analysis
‘Don’t Hold Your Breath,’ Waiting for Bitcoin ETF Says SEC ‘Crypto Mom’
https://cointelegraph.com/news/dont-hold-your-breath-waiting-for-bitcoin-etf-says-sec-crypto-mom
When Bitcoin’s Price Breaks Down, It Follows a Pattern
https://www.coindesk.com/when-bitcoins-price-breaks-down-it-follows-a-pattern
Morgan Creek Is Betting $1 Million That Crypto Can Beat the S&P
https://www.coindesk.com/morgan-creek-digital-is-betting-1-million-that-crypto-can-beat-the-sp-500
Technical analyis
H4 time frame : https://www.tradingview.com/x/VPL2nCXI/
After cleaer breakdown, BTC price is consolidating around 3400 price level. If we zoom out, we see clearly that it is targeting next weekly support at 2900-3000 area.
If we check the history, the second news today shared in this update (When Bitcoin’s Price Breaks Down, It Follows a Pattern), shows us something very interesting. Last few years, BTC price always used to create triangle and the outcome was always the same, breakdown. But after that breakdown, the outcome was always the same, uptrend.
Let's see if this time BTC price is going to follow the pattern or not!
To your success, CS Team!
Cointelegraph
‘Don’t Hold Your Breath,’ Waiting for Bitcoin ETF Says SEC ‘Crypto Mom’
U.S. SEC Commissioner Hester Peirce, dubbed “Crypto Mom” for her pro-crypto stance, said the future of a Bitcoin ETF is still uncertain.
Shorts at new all time high (ATH)
It is clear that Bitcoin price was a bubble. Too high or too much of everything can cause a bubble, like a Tulip bubble.
Our channel warned the community on December 17th, 2017 of potential bubble just few hours before the beginning of the drop.
Now we warns you of potential short positions bubble, also known as, short squeeze.
https://www.tradingview.com/x/G0q0nb74/
https://www.tradingview.com/x/yY15RcyY/
Once we hit the support, the area of interest for whales, move of $500-1000 could happen in couple of minutes and close all these short positions.
Every opened long position has to be close by openingn short one. Every short opened position has to be closed by opening the long one.
All these short positions are going to become long sooner or later. It is automatiaclly buy. Even if the market is bearish, once the stop loss area is reached by small pump, the chain reaction could create huge spike.
If that happens, I am sure it will because all types of bubbles come to an end sooner or later, your stop loss if you were short wont be filled at your price but it can be filled few dollars or in extreme situations even few hundred dollars from yout stop loss price. If you remember in August 2018 when Bitmex was down, the chain reaction happened that pumped BTC from 6400 all the way up to 7100. Some of our friends get stopped out even $300 from their stop loss prices. If you are using too big position, it could literally vanish your whole account.
Be careful!
To your success, CS Team!
It is clear that Bitcoin price was a bubble. Too high or too much of everything can cause a bubble, like a Tulip bubble.
Our channel warned the community on December 17th, 2017 of potential bubble just few hours before the beginning of the drop.
Now we warns you of potential short positions bubble, also known as, short squeeze.
https://www.tradingview.com/x/G0q0nb74/
https://www.tradingview.com/x/yY15RcyY/
Once we hit the support, the area of interest for whales, move of $500-1000 could happen in couple of minutes and close all these short positions.
Every opened long position has to be close by openingn short one. Every short opened position has to be closed by opening the long one.
All these short positions are going to become long sooner or later. It is automatiaclly buy. Even if the market is bearish, once the stop loss area is reached by small pump, the chain reaction could create huge spike.
If that happens, I am sure it will because all types of bubbles come to an end sooner or later, your stop loss if you were short wont be filled at your price but it can be filled few dollars or in extreme situations even few hundred dollars from yout stop loss price. If you remember in August 2018 when Bitmex was down, the chain reaction happened that pumped BTC from 6400 all the way up to 7100. Some of our friends get stopped out even $300 from their stop loss prices. If you are using too big position, it could literally vanish your whole account.
Be careful!
To your success, CS Team!
It is December 8th, 2018
BTC dominance is currently at 54.7% (-0.6%). The total market cap is currently at $109.2 billion (+ $1.0 billion). The market volume of the last 24h was $15.7 billion (- $2.4 billion).
Fundamental analysis
thereum Constantinople Hard Fork to Come in Mid-January, Based on Dev’s New Agreement
https://cointelegraph.com/news/ethereum-constantinople-hard-fork-to-come-in-mid-january-based-on-devs-new-agreement
Why You Shouldn’t Fear the Blockchain Regulators
https://www.coindesk.com/why-you-shouldnt-fear-the-blockchain-regulators
Technical analysis
Daily time frame : https://www.tradingview.com/x/9G6Ejuts/
BTC made very nice bounce off yesterday and today holding above $3300 area. If this daily candle closes above 3400 forming doji candle, we may see green day tomorrow that can spark the potential uptrend that can lead us towards testing important daily resistance at 3700 area.
BTC shorts are still ridiculously high and that is something that is just the question of time when short squeeze is going to happen and we are going to see big spike up. Simply, every opened short position has to be closed by opening long position.
Shorts are at all time high, so it is huge number of longs that are going to be opened sooner or later.
So even if the market sentiment is very bearish, just quite small manipulation by whales can hit the stop loss area and start the chain reaction.
Keep that in mind when you are shorting. It is still profitable because price is keeps going down but always keep your stop losses tight.
To your success, CS Team!
BTC dominance is currently at 54.7% (-0.6%). The total market cap is currently at $109.2 billion (+ $1.0 billion). The market volume of the last 24h was $15.7 billion (- $2.4 billion).
Fundamental analysis
thereum Constantinople Hard Fork to Come in Mid-January, Based on Dev’s New Agreement
https://cointelegraph.com/news/ethereum-constantinople-hard-fork-to-come-in-mid-january-based-on-devs-new-agreement
Why You Shouldn’t Fear the Blockchain Regulators
https://www.coindesk.com/why-you-shouldnt-fear-the-blockchain-regulators
Technical analysis
Daily time frame : https://www.tradingview.com/x/9G6Ejuts/
BTC made very nice bounce off yesterday and today holding above $3300 area. If this daily candle closes above 3400 forming doji candle, we may see green day tomorrow that can spark the potential uptrend that can lead us towards testing important daily resistance at 3700 area.
BTC shorts are still ridiculously high and that is something that is just the question of time when short squeeze is going to happen and we are going to see big spike up. Simply, every opened short position has to be closed by opening long position.
Shorts are at all time high, so it is huge number of longs that are going to be opened sooner or later.
So even if the market sentiment is very bearish, just quite small manipulation by whales can hit the stop loss area and start the chain reaction.
Keep that in mind when you are shorting. It is still profitable because price is keeps going down but always keep your stop losses tight.
To your success, CS Team!
Cointelegraph
Ethereum Constantinople Hard Fork to Come in Mid-January, Based on Dev’s New Agreement
Ethereum core developers have decided to activate the Constantinople upgrade at block 7,080,000.
It is December 9th, 2018
BTC dominance is currently at 54.8% (+0.1%). The total market cap is currently at $111.0 billion (+ $1.8 billion). The market volume of the last 24h was $13.8 billion (- $1.9 billion).
Fundamental analysis
Whale activity: Someone bought $50 worth of Ethereum and pumped the price almost 10%
https://twitter.com/TommyWorldPower/status/1071127272290050048?s=19
Why Bitcoin is Not in a Death Spiral, According to Andreas Antonopoulos
https://www.ccn.com/why-bitcoin-is-not-in-a-death-spiral-according-to-andreas-antonopoulos/
Technical analysis
Daily time frame : https://www.tradingview.com/x/FjPd85OR/
H1 time frame : https://www.tradingview.com/x/Pc5TAmQZ/
Considering daily close, 2 strong bounces, lower volume on second drop also known as bullish divergance, potential invesrse H&S price pattern, we do believe that if we see price above 3500, we can expect to see at least test of 3800 resistance area.
The whole market is extremely bearish, eveyone is talking of price going to zero, eveyon is talking about selling but the truth is that volume is not confirming these talks. The sellers were more intense on previous drop than this time.
We do believe that market could see some green days. It is too far from end of bear market, but some kind of positive consolidation could happen.
The number of shorts that are reaching all time high are also scary because who will pay these shorts? Be sure that the majority will never feed the minority!
So, we are too far from even thinking of end of bear market. We do believe that it will last for at least couple of months and it is perfect for everybody to accumulate. We think Bitcoin will visit below 3k sooner or later but it looks not this time. The market is too one sided that even small whales manipulation can pump the price, make them profit that will be used for accumulation once price approaches these and lower levels again.
To your success, CS Team!
BTC dominance is currently at 54.8% (+0.1%). The total market cap is currently at $111.0 billion (+ $1.8 billion). The market volume of the last 24h was $13.8 billion (- $1.9 billion).
Fundamental analysis
Whale activity: Someone bought $50 worth of Ethereum and pumped the price almost 10%
https://twitter.com/TommyWorldPower/status/1071127272290050048?s=19
Why Bitcoin is Not in a Death Spiral, According to Andreas Antonopoulos
https://www.ccn.com/why-bitcoin-is-not-in-a-death-spiral-according-to-andreas-antonopoulos/
Technical analysis
Daily time frame : https://www.tradingview.com/x/FjPd85OR/
H1 time frame : https://www.tradingview.com/x/Pc5TAmQZ/
Considering daily close, 2 strong bounces, lower volume on second drop also known as bullish divergance, potential invesrse H&S price pattern, we do believe that if we see price above 3500, we can expect to see at least test of 3800 resistance area.
The whole market is extremely bearish, eveyone is talking of price going to zero, eveyon is talking about selling but the truth is that volume is not confirming these talks. The sellers were more intense on previous drop than this time.
We do believe that market could see some green days. It is too far from end of bear market, but some kind of positive consolidation could happen.
The number of shorts that are reaching all time high are also scary because who will pay these shorts? Be sure that the majority will never feed the minority!
So, we are too far from even thinking of end of bear market. We do believe that it will last for at least couple of months and it is perfect for everybody to accumulate. We think Bitcoin will visit below 3k sooner or later but it looks not this time. The market is too one sided that even small whales manipulation can pump the price, make them profit that will be used for accumulation once price approaches these and lower levels again.
To your success, CS Team!
Twitter
Tommy World Power 💹
Someone just swooped up ~$50M of ETH pushing the price up $10 from $85 and $95. Don’t expect ETH prices to hang around here for 6 months to a year.
The bullishness resulted by pushing the price up above 3500 and it is now approaching new resistance at 3600 and we think it will try to test further resistance at 3700 and 3800.
https://www.tradingview.com/x/BzGM0Eud/
https://www.tradingview.com/x/BzGM0Eud/
There is an Auto-Download Crypto Virus spreading on Telegram 🚨🚨
Everyone needs to turn off auto downloads in Telegram settings, even on mobile!
Go to Settings -> Data and storage -> Disable auto downloads
Everyone needs to turn off auto downloads in Telegram settings, even on mobile!
Go to Settings -> Data and storage -> Disable auto downloads
It is December 10th, 2018
BTC dominance is currently at 55.1% (+0.3%). The total market cap is currently at $112.4 billion (+ $1.4 billion). The market volume of the last 24h was $14.2 billion (+ $0.4 billion).
Fundamental analysis
Why Billionaire Investors Still Remain Positive on Long-Term Trend of Crypto
https://www.ccn.com/why-billionaire-investors-still-remain-positive-on-long-term-trend-of-crypto/
2019 Will Be a Big Year for Stablecoins
https://www.coindesk.com/2019-will-be-a-big-year-for-stablecoins
Technical analysis
Daily time frame : https://www.tradingview.com/x/UBThDQea/
Hourly time frame : https://www.tradingview.com/x/FAuIu7TJ/
After BTC achieved some of our long targets, it still has room to grow. Next long target is 3700 and if that one gets broken with good volume, we can see very nice up move.
In order to see new up move, we need to stay above green area around 3450. As long as we are above this price area, the uptrend is likely to happen because of bullish momentum on higher time frames such as 1D.
But considering weekly bearish close, this up move has chance to go up to 3900 and that's probably the highest target and after that, because of bearish weekly close, we may see price again in this or even lower areas.
Anything above 3900 would spark the hope for end of local downtrend but for that we need weekly close above 4100. This is too far but since it is Monday, we think it is important to mention weekly levels because this time frame plays very important role and decides a lot of movement that gets later confirmed on lower one such as D1 and H4.
So, our current situation after good yesterday's long trade is to wait for next trigger. We need few rejections from this 3450 support area to confirm that support is active. Then we would like for new long trade with targets around 3650-3700 area.
If we see break through the support area with higher volume, we would start looking for short entries.
To your success, CS Team!
BTC dominance is currently at 55.1% (+0.3%). The total market cap is currently at $112.4 billion (+ $1.4 billion). The market volume of the last 24h was $14.2 billion (+ $0.4 billion).
Fundamental analysis
Why Billionaire Investors Still Remain Positive on Long-Term Trend of Crypto
https://www.ccn.com/why-billionaire-investors-still-remain-positive-on-long-term-trend-of-crypto/
2019 Will Be a Big Year for Stablecoins
https://www.coindesk.com/2019-will-be-a-big-year-for-stablecoins
Technical analysis
Daily time frame : https://www.tradingview.com/x/UBThDQea/
Hourly time frame : https://www.tradingview.com/x/FAuIu7TJ/
After BTC achieved some of our long targets, it still has room to grow. Next long target is 3700 and if that one gets broken with good volume, we can see very nice up move.
In order to see new up move, we need to stay above green area around 3450. As long as we are above this price area, the uptrend is likely to happen because of bullish momentum on higher time frames such as 1D.
But considering weekly bearish close, this up move has chance to go up to 3900 and that's probably the highest target and after that, because of bearish weekly close, we may see price again in this or even lower areas.
Anything above 3900 would spark the hope for end of local downtrend but for that we need weekly close above 4100. This is too far but since it is Monday, we think it is important to mention weekly levels because this time frame plays very important role and decides a lot of movement that gets later confirmed on lower one such as D1 and H4.
So, our current situation after good yesterday's long trade is to wait for next trigger. We need few rejections from this 3450 support area to confirm that support is active. Then we would like for new long trade with targets around 3650-3700 area.
If we see break through the support area with higher volume, we would start looking for short entries.
To your success, CS Team!
CCN.com
Why Billionaire Investors Remain Positive on Long-Term Trend of Crypto
Many billionaire investors in the traditional financial market who remain optimistic towards the long-term trend of crypto.
It is December 11th, 2018
BTC dominance is currently at 55.0% (-0.1%). The total market cap is currently at $110.5 billion (- $1.9 billion). The market volume of the last 24 was $13.1 billion (- $1.1 billion).
As there is no significant news, we do not want to cover you with news about some banks and things like that. We would rather take time to share our view of current market situation and what could happen in upcoming days/weeks.
As you all now, Bitcoin has dropped from accumulation area of 6k all the way down to low 3k area and now we are testing long term weekly support levels.
So far, the first one at 3600 was broken and the price is heading towards next one in 2900-3000 area.
But, downtrend doesn't mean straight move down same as the uptrend doesn't mean straight line up. Check the uptrend from 2017 and you will see a lot of retracements of even 50% and after that we managed to go up.
So, that being said, even in extremely bearish market, you have to know that there will be up moves too and for traders, even move of $50-100 is enough to stop out them. That's why we suggest you to wait for right setup and only once it gets confirmed, you should enter the position.
Let's check the chart and see where are the important areas.
4h time frame : https://www.tradingview.com/x/8ezuXfl2/
This one shows us very clear where are the important areas. We have 2 trading areas.
First one is 4350-3650 and second one is 3650-3300.
We are currently in the middle of second trading area and any trade would be naive move because this is the area where at the higher time frame everything is possible. Price manipulation, 5m candle fo $200, everything is possible because it wont affect higher picture too much. Because it can happen and wont affect higher time frames such as daily and weekly, this move could be in any direction.
BTC dropped 50% in less than a month and now newbies are starting to short it 🙈
Easy money on short position has gone.
Most of traders ignore trading volume. Look at the volume. It is constantly dropping and by dropping it is forming bullish divergance. Volume bullish divergance is one of the strongest signs you may get. It means that leading trend is losing strength.
The point of this post is to give you an overal point. Even if that is dropping, do not short is just because it is dropping but rather wait for safe trade setup. On the other side, do not long just because we are too low but again wait for confirmation and safe entry.
Considering that we are in the middle of the trading area, the trading is suggested at the lower or upper side of the trading channel. In case we leave this channel from above or below, the perfet trade would be on retest.
Focus on confirmation and waiting for trade setup. Once it happens, enter the trade and wait for profit to come.
The second trading channel is important because it will determine the next few dasy/weeks. If it enters uppwer trading channel, we can see BTC again above 4000. On the other side, if we see drop outside of this trading channel, new low is probably going to be established and we will move towards next weekly support at 2900.
To your success, CS Team!
BTC dominance is currently at 55.0% (-0.1%). The total market cap is currently at $110.5 billion (- $1.9 billion). The market volume of the last 24 was $13.1 billion (- $1.1 billion).
As there is no significant news, we do not want to cover you with news about some banks and things like that. We would rather take time to share our view of current market situation and what could happen in upcoming days/weeks.
As you all now, Bitcoin has dropped from accumulation area of 6k all the way down to low 3k area and now we are testing long term weekly support levels.
So far, the first one at 3600 was broken and the price is heading towards next one in 2900-3000 area.
But, downtrend doesn't mean straight move down same as the uptrend doesn't mean straight line up. Check the uptrend from 2017 and you will see a lot of retracements of even 50% and after that we managed to go up.
So, that being said, even in extremely bearish market, you have to know that there will be up moves too and for traders, even move of $50-100 is enough to stop out them. That's why we suggest you to wait for right setup and only once it gets confirmed, you should enter the position.
Let's check the chart and see where are the important areas.
4h time frame : https://www.tradingview.com/x/8ezuXfl2/
This one shows us very clear where are the important areas. We have 2 trading areas.
First one is 4350-3650 and second one is 3650-3300.
We are currently in the middle of second trading area and any trade would be naive move because this is the area where at the higher time frame everything is possible. Price manipulation, 5m candle fo $200, everything is possible because it wont affect higher picture too much. Because it can happen and wont affect higher time frames such as daily and weekly, this move could be in any direction.
BTC dropped 50% in less than a month and now newbies are starting to short it 🙈
Easy money on short position has gone.
Most of traders ignore trading volume. Look at the volume. It is constantly dropping and by dropping it is forming bullish divergance. Volume bullish divergance is one of the strongest signs you may get. It means that leading trend is losing strength.
The point of this post is to give you an overal point. Even if that is dropping, do not short is just because it is dropping but rather wait for safe trade setup. On the other side, do not long just because we are too low but again wait for confirmation and safe entry.
Considering that we are in the middle of the trading area, the trading is suggested at the lower or upper side of the trading channel. In case we leave this channel from above or below, the perfet trade would be on retest.
Focus on confirmation and waiting for trade setup. Once it happens, enter the trade and wait for profit to come.
The second trading channel is important because it will determine the next few dasy/weeks. If it enters uppwer trading channel, we can see BTC again above 4000. On the other side, if we see drop outside of this trading channel, new low is probably going to be established and we will move towards next weekly support at 2900.
To your success, CS Team!
The news is 7 days old but since the Ethereum Classic didn't see major dump, we think that sharing now has a lot of value to ETC holders.
32
A leading development firm behind Ethereum Classic (ETC) will be shutting down immediately. ETCDev had struggled to raise sufficient funds in order to continue its operations. The company, which had been in operation for two and a half years, said its financing issues partly stemmed from the crypto market downturn.
This is one of the issues that coins are facing with in this bear market. This is the reality of bear market. Coin holders are not the only that are facing with financial losses but also companies such as ETC Dev.
This is a warning for ETH holders. This is not a sell off action. This could be also manipulation by their team. This is just warning for you to take attention. Maybe solution could be to tight up your stop loss. It is up to you. We wanted to warn you because there is no point in holding coins that could go to zero.
Warn your friends too 🙏
https://twitter.com/etcdev/status/1069625401515872256?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1069625401515872256&ref_url=https%3A%2F%2Fcryptobriefing.com%2Fetcdev-ethereum-classic%2F
32
A leading development firm behind Ethereum Classic (ETC) will be shutting down immediately. ETCDev had struggled to raise sufficient funds in order to continue its operations. The company, which had been in operation for two and a half years, said its financing issues partly stemmed from the crypto market downturn.
This is one of the issues that coins are facing with in this bear market. This is the reality of bear market. Coin holders are not the only that are facing with financial losses but also companies such as ETC Dev.
This is a warning for ETH holders. This is not a sell off action. This could be also manipulation by their team. This is just warning for you to take attention. Maybe solution could be to tight up your stop loss. It is up to you. We wanted to warn you because there is no point in holding coins that could go to zero.
Warn your friends too 🙏
https://twitter.com/etcdev/status/1069625401515872256?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1069625401515872256&ref_url=https%3A%2F%2Fcryptobriefing.com%2Fetcdev-ethereum-classic%2F
Twitter
ETCDEV
Unfortunately ETCDEV cannot continue to work in the current situation and has to announce shutdown of our current activities
It is December 12th, 2018
BTC dominance is currently at 55.0% (+0.0%). The total market cap is currently at $109.5 billion (- $1.0 billion). The market volume of the last 24h was $12.7 billion (- $0.4 billion).
Fundamental side of the crypto market is still full of news about mainstream adoption, banks and similar things. We are not saying that it is not important but at the moment, these news are not affecting crypto market directly but indirectly that will be visible in the future. Mainstream adoption is slow proces but the proces that will positively affect the price in the future.
Technical analysis
Daily time frame : https://www.tradingview.com/x/QoQpCedm/
H4 time frame : https://www.tradingview.com/x/uXzPE8K4/
Considering these 2 charts, we are still in the middle of nowhere. We are too far from next weekly support at around 2900 but also we are too far from 3700-3800 area that will be bullish sign if gets crossed.
Now, at this moment we have few important price levels. First one is red line that is considered as the border between bullish and bearish area. Also, do now forget bullish divergance on daily time frame. Our 3300 level on h4 resisted all tests and still holding.
In general, the situation is not clear. We should wait for clear sign. The only clear sign is that opening swing short is not that smart idea at this price. It is better to wait for up move and to think of shorting after that move that could be even to 4500 area.
Once we decide to enter swing position, we are going to share with you!
To your success, CS Team!
BTC dominance is currently at 55.0% (+0.0%). The total market cap is currently at $109.5 billion (- $1.0 billion). The market volume of the last 24h was $12.7 billion (- $0.4 billion).
Fundamental side of the crypto market is still full of news about mainstream adoption, banks and similar things. We are not saying that it is not important but at the moment, these news are not affecting crypto market directly but indirectly that will be visible in the future. Mainstream adoption is slow proces but the proces that will positively affect the price in the future.
Technical analysis
Daily time frame : https://www.tradingview.com/x/QoQpCedm/
H4 time frame : https://www.tradingview.com/x/uXzPE8K4/
Considering these 2 charts, we are still in the middle of nowhere. We are too far from next weekly support at around 2900 but also we are too far from 3700-3800 area that will be bullish sign if gets crossed.
Now, at this moment we have few important price levels. First one is red line that is considered as the border between bullish and bearish area. Also, do now forget bullish divergance on daily time frame. Our 3300 level on h4 resisted all tests and still holding.
In general, the situation is not clear. We should wait for clear sign. The only clear sign is that opening swing short is not that smart idea at this price. It is better to wait for up move and to think of shorting after that move that could be even to 4500 area.
Once we decide to enter swing position, we are going to share with you!
To your success, CS Team!
December 2017 vs December 2018
It looks like there is something magical about December. Last year, it was the time of the biggest euphoria in the market and this year it is the time of the biggest panic in the market.
In this post, our team would like to go through this market cycle and give you an overview.
It all started in Mart-April 2017 when the spark of the bull market did happen. We tested all time high for the first time after almost 4 years. New all time was established but after that we got rejected. Price dropped to $800 area.
At that time, everybodies get excited about Bitcoin. They dreamed of $3000. At that time $5000 target would magical target.
It happened. June 2017 was the month when we reached $3000 but we was heavily rejected. Price dropped below $1800. The reason was Bitcoin hard fork. At that time, very few people understood the meaning of hard fork. They thought that Bitcoin will disappear since it is going to be splitted into 2 new coins. We were in the bear market, price dropped almost 40%. The panic was everywhere.
Then, all of a sudden, the market got information that these who hold Bitcoin are going to get new coin for "FREE". That was explaination of hardfork and the reason why Bitcoin rallied to new all time high all the way up to $5000. The magic target was reached in September.
New FUD. China is going to ban crypto trading. New drop!
This time price dropped from 5000 all the way down to $3000. It was one more time drop of 40% that happened in less than a week.
It was the time everybody was scared. China is one of the top world's countries. This was not joke or rumour. The ban actually happened. They banned crypto exchanges.
Did this stop the bull run?
You already know the answer. This was the last correction before the biggest bull run that happned so far. People were euphoric. Everybody was buying. USDT was printed almost every day. New money was coming.
These who targeted $5000 became greedy and started to target $10000. It happened. $10000 has been reached. They wanted more. They targeted $20000.
$20000 has been reached. They wanted more and they targeted $50000.
It was the time when common sense was out of the game. The greed was at all time high. I wish I bought at $5000 was the most used phrase. I wish....
The market reached $20000 and just few days after that we were testing $10 000.
People were hoping to see $20 000 again so they can book the profit. Price went to $17000 and dropped all the way down to $6000. Market was shocked. They were hoping for $15 000 so they can book the profit. Price went up to $12 000, they didn't sell and price dropped again. They started to hope for $12 000 to happen so they can book the profit. Market offered them $10 000 and they wanted more. Price dropped again. They started to hope for $10 000. Market offered them $8500, they wanted more! Price dropped again.
Magical $6000 area was holding for months. People were buying and accumulating. Price dropped again.
We were at $5500 and people were hoping for $6000 so they can sell and cut their losses. Price dropped again.
We are currently at $3400 and what is happening in the market? Everybody is talking about selling. Are there people that are buying? There are and a lot of them but they are silent. They have the reason why they do it. Twitter shillers are at its peak of bearish euphoria. They are calling $2700, $1100, $850, $100, 0.
Let me ask you a question: Do you see a pattern?
The current situation we have now is the same situation we had 12 months ago.
The same way they increased they target point for bull run, the same way they lower their target point for bear market. It will be happening until, until we see huge spike up.Same spike that ended bull market will end bear market. People will start hopping for double bottom so they can buy. Price will drop but wont make double bottom and they are going to miss the entry point. They will hope for double bottom again and again until price enters new bull run and until whole market becomes extra bullish again.
It looks like there is something magical about December. Last year, it was the time of the biggest euphoria in the market and this year it is the time of the biggest panic in the market.
In this post, our team would like to go through this market cycle and give you an overview.
It all started in Mart-April 2017 when the spark of the bull market did happen. We tested all time high for the first time after almost 4 years. New all time was established but after that we got rejected. Price dropped to $800 area.
At that time, everybodies get excited about Bitcoin. They dreamed of $3000. At that time $5000 target would magical target.
It happened. June 2017 was the month when we reached $3000 but we was heavily rejected. Price dropped below $1800. The reason was Bitcoin hard fork. At that time, very few people understood the meaning of hard fork. They thought that Bitcoin will disappear since it is going to be splitted into 2 new coins. We were in the bear market, price dropped almost 40%. The panic was everywhere.
Then, all of a sudden, the market got information that these who hold Bitcoin are going to get new coin for "FREE". That was explaination of hardfork and the reason why Bitcoin rallied to new all time high all the way up to $5000. The magic target was reached in September.
New FUD. China is going to ban crypto trading. New drop!
This time price dropped from 5000 all the way down to $3000. It was one more time drop of 40% that happened in less than a week.
It was the time everybody was scared. China is one of the top world's countries. This was not joke or rumour. The ban actually happened. They banned crypto exchanges.
Did this stop the bull run?
You already know the answer. This was the last correction before the biggest bull run that happned so far. People were euphoric. Everybody was buying. USDT was printed almost every day. New money was coming.
These who targeted $5000 became greedy and started to target $10000. It happened. $10000 has been reached. They wanted more. They targeted $20000.
$20000 has been reached. They wanted more and they targeted $50000.
It was the time when common sense was out of the game. The greed was at all time high. I wish I bought at $5000 was the most used phrase. I wish....
The market reached $20000 and just few days after that we were testing $10 000.
People were hoping to see $20 000 again so they can book the profit. Price went to $17000 and dropped all the way down to $6000. Market was shocked. They were hoping for $15 000 so they can book the profit. Price went up to $12 000, they didn't sell and price dropped again. They started to hope for $12 000 to happen so they can book the profit. Market offered them $10 000 and they wanted more. Price dropped again. They started to hope for $10 000. Market offered them $8500, they wanted more! Price dropped again.
Magical $6000 area was holding for months. People were buying and accumulating. Price dropped again.
We were at $5500 and people were hoping for $6000 so they can sell and cut their losses. Price dropped again.
We are currently at $3400 and what is happening in the market? Everybody is talking about selling. Are there people that are buying? There are and a lot of them but they are silent. They have the reason why they do it. Twitter shillers are at its peak of bearish euphoria. They are calling $2700, $1100, $850, $100, 0.
Let me ask you a question: Do you see a pattern?
The current situation we have now is the same situation we had 12 months ago.
The same way they increased they target point for bull run, the same way they lower their target point for bear market. It will be happening until, until we see huge spike up.Same spike that ended bull market will end bear market. People will start hopping for double bottom so they can buy. Price will drop but wont make double bottom and they are going to miss the entry point. They will hope for double bottom again and again until price enters new bull run and until whole market becomes extra bullish again.