Back to crypto, the support area I was talking about is doing its job.
Two wicks on a daily time frame that closed above support are a good sign.
However, we approached this area very fast so the certainty I had before that there’s no chance this is going to be broken is not that strong at the moment.
We may get deeper correction but I’m still playing my initial trading setup and waiting for that consolidation in this area that would lead to the move up.
I’ll try to catch that move up if I get confirmation.
Very important monthly close is coming so that’s something to be aware as well.
Two wicks on a daily time frame that closed above support are a good sign.
However, we approached this area very fast so the certainty I had before that there’s no chance this is going to be broken is not that strong at the moment.
We may get deeper correction but I’m still playing my initial trading setup and waiting for that consolidation in this area that would lead to the move up.
I’ll try to catch that move up if I get confirmation.
Very important monthly close is coming so that’s something to be aware as well.
The goal of this channel is to become one of the best, unbiased sources for traders and investors.
The focus on crypto but I will not resist posting my opinion on the other assets as well as the opinions on the important global topic that can directly or indirectly impact financial systems.
I really appreciate the support I'm getting from you and all I can say is that there's more to come.
And don't expect me to start writing in some professional manner. I like to write in everyday language so it's understandable to anyone.
The financial system is already too complicated by its core and I don't want to make it even more complicated by using its jargon and terms known to the minority.
The focus on crypto but I will not resist posting my opinion on the other assets as well as the opinions on the important global topic that can directly or indirectly impact financial systems.
I really appreciate the support I'm getting from you and all I can say is that there's more to come.
And don't expect me to start writing in some professional manner. I like to write in everyday language so it's understandable to anyone.
The financial system is already too complicated by its core and I don't want to make it even more complicated by using its jargon and terms known to the minority.
While I’m waiting for weekly closure in the crypto market, I would like to bring fresh information about coronavirus because this shi*t is getting real.
News about coronavirus are everywhere. Business Insider, New York Times, CNN, national televisions, Twitter, Instagram, Facebook are flooded with news about the virus.
Countries are getting closed, flights are getting canceled, big companies are stopping their production.
The biggest warning sign is that there are no signs of stopping.
We just got information of the first deaths in the US and Australia.
From a medical perspective, I don’t think this is going to kill the human population or something like that because 95% of people who died are 65+ with different disease so they already had a very bad immune system.
But from a market perspective, if this continues, I expect one of the biggest crashes in the stock market. This is not prediction but reality because production will be reduced, purchasing power is decreasing and companies are not producing profits which is going to affect their quarterly earning reports that will probably be a trigger for crash continuation.
We don’t have an example in history where Bitcoin faced a similar scenario but from a technical point, the internet will still be there and that’s the only thing we need for Bitcoin.
We’ll even get more people in their houses sitting in front of computers so maybe this is going to positively affect Bitcoin since they may come across the alternative to the current financial system, especially if it doesn’t drop and stay strong while other markets are nosediving.
You can't even imagine the consequences of this is it continues for 2-3 months which is most likely to happen. What happened in 2008 will be nothing compared to that.
Japan, for example, invested everything in the Summer Olympic Games and just imagine if they're going to be canceled. Their whole economy will set to fire and it will require years to recover.
The worst thing is that the world is in huge debt and new crises are the last thing we need. Just to bring some numbers in perspective, US debt is currently astonishing $23 trillion, Japan's $12 trillion, China's $10 trillion.
If you ask to whom, they're in debt to other countries like Swiss or private investors. So they're in debt to real people and it will have to be paid off, sooner or later.
Not only countries but the whole business model in today's world is to get a loan from the bank and start your business in debt. The bigger you get, the more debt you have and this is not bad debt like college because this debt helps you to scale out your business.
But if your business is not producing enough revenue, this debt is even worse than college debt because it can lead to the complete shut down of your business if you don't have external sources to help you out.
Very excited for the end of this month to see companies quarterly earnings report. At this moment, it's definitely going to be less than previous quarters in 2019 and 2018 but are we going to see some companies without revenue at all ending the first quarter of 2020 in the negative?
If that happens, it would propel the stock prices of that company to new lows.
I'm just happy that I found an alternative in the crypto market because the current world is getting crazy and there's the point where it would have to stop.
Maybe we're just a few weeks from the point, maybe not but luckily, I have the alternative for that scenario anyhow.
News about coronavirus are everywhere. Business Insider, New York Times, CNN, national televisions, Twitter, Instagram, Facebook are flooded with news about the virus.
Countries are getting closed, flights are getting canceled, big companies are stopping their production.
The biggest warning sign is that there are no signs of stopping.
We just got information of the first deaths in the US and Australia.
From a medical perspective, I don’t think this is going to kill the human population or something like that because 95% of people who died are 65+ with different disease so they already had a very bad immune system.
But from a market perspective, if this continues, I expect one of the biggest crashes in the stock market. This is not prediction but reality because production will be reduced, purchasing power is decreasing and companies are not producing profits which is going to affect their quarterly earning reports that will probably be a trigger for crash continuation.
We don’t have an example in history where Bitcoin faced a similar scenario but from a technical point, the internet will still be there and that’s the only thing we need for Bitcoin.
We’ll even get more people in their houses sitting in front of computers so maybe this is going to positively affect Bitcoin since they may come across the alternative to the current financial system, especially if it doesn’t drop and stay strong while other markets are nosediving.
You can't even imagine the consequences of this is it continues for 2-3 months which is most likely to happen. What happened in 2008 will be nothing compared to that.
Japan, for example, invested everything in the Summer Olympic Games and just imagine if they're going to be canceled. Their whole economy will set to fire and it will require years to recover.
The worst thing is that the world is in huge debt and new crises are the last thing we need. Just to bring some numbers in perspective, US debt is currently astonishing $23 trillion, Japan's $12 trillion, China's $10 trillion.
If you ask to whom, they're in debt to other countries like Swiss or private investors. So they're in debt to real people and it will have to be paid off, sooner or later.
Not only countries but the whole business model in today's world is to get a loan from the bank and start your business in debt. The bigger you get, the more debt you have and this is not bad debt like college because this debt helps you to scale out your business.
But if your business is not producing enough revenue, this debt is even worse than college debt because it can lead to the complete shut down of your business if you don't have external sources to help you out.
Very excited for the end of this month to see companies quarterly earnings report. At this moment, it's definitely going to be less than previous quarters in 2019 and 2018 but are we going to see some companies without revenue at all ending the first quarter of 2020 in the negative?
If that happens, it would propel the stock prices of that company to new lows.
I'm just happy that I found an alternative in the crypto market because the current world is getting crazy and there's the point where it would have to stop.
Maybe we're just a few weeks from the point, maybe not but luckily, I have the alternative for that scenario anyhow.
Bitcoin is currently at support and as long as that area holds, the upside targets are still active.
On a weekly timeframe, we got rejected by the resistance and that’s not good signs for bulls.
As I said, as long as the green area holds, target at $9250 is still active.
Otherwise, we’re going to target a low $8k area.
On a weekly timeframe, we got rejected by the resistance and that’s not good signs for bulls.
As I said, as long as the green area holds, target at $9250 is still active.
Otherwise, we’re going to target a low $8k area.
Coronavirus is fundamentally bullish for Bitcoin
Have you seen how in China they are disinfecting paper money?
As the virus stays alive on surfaces, people and the Chinese government are moving to credit cards, Alipay etc and of course, this is in favor of Crypto. Crypto needs nothing to touch. Completely hygienic.
This crisis is becoming a traumatic experience and one thing out of it will be that people won't want to touch "dirty" money anymore because they don't know if a virus will transmit. All it needs is to touch virus-infected money someone sneezed on or coughed on. (Virus stays alive for minimum 5 days and up to 3 weeks).
The bottom line is that paper money will get a big blow throughout the world once the media outside China starts reporting money as the porter of the virus from person to person. Then people won't want to touch money and will want alternatives.
Take the financial crisis, potential hyperinflation and combination with hygienic reasons, we have crypto becoming the only means of the financial transaction other than gold, silver.
P.S. This text was written by one of our members. Thank you for contributing to our channel 🙏
Have you seen how in China they are disinfecting paper money?
As the virus stays alive on surfaces, people and the Chinese government are moving to credit cards, Alipay etc and of course, this is in favor of Crypto. Crypto needs nothing to touch. Completely hygienic.
This crisis is becoming a traumatic experience and one thing out of it will be that people won't want to touch "dirty" money anymore because they don't know if a virus will transmit. All it needs is to touch virus-infected money someone sneezed on or coughed on. (Virus stays alive for minimum 5 days and up to 3 weeks).
The bottom line is that paper money will get a big blow throughout the world once the media outside China starts reporting money as the porter of the virus from person to person. Then people won't want to touch money and will want alternatives.
Take the financial crisis, potential hyperinflation and combination with hygienic reasons, we have crypto becoming the only means of the financial transaction other than gold, silver.
P.S. This text was written by one of our members. Thank you for contributing to our channel 🙏
The central bank cut interest rates by half a percentage point, its biggest single cut in more than a decade, as a pre-emptive move to protect the economy from the coronavirus.
In an extraordinary attempt to contain the coronavirus’s economic fallout, the Federal Reserve slashed interest rates on Tuesday as policymakers unanimously approved their biggest one-time cut — and first emergency rate move — since the depths of the 2008 financial crisis.
This sudden move won't help the stock market if coronavirus continues spreading across the globe—currently, the major outbreaks taking hold in South Korea, Japan, Iran and Italy.
Everything is fine 🙃
In an extraordinary attempt to contain the coronavirus’s economic fallout, the Federal Reserve slashed interest rates on Tuesday as policymakers unanimously approved their biggest one-time cut — and first emergency rate move — since the depths of the 2008 financial crisis.
This sudden move won't help the stock market if coronavirus continues spreading across the globe—currently, the major outbreaks taking hold in South Korea, Japan, Iran and Italy.
Everything is fine 🙃
Bitcoin close to beginning a new trend and ending up this consolidation.
For a move up, we need close above resistance while a close below the support would probably lead to a new low.
What’s more likely to happen?
I give more chances to move up because of all fundamentals in the market that are in favor of Bitcoin.
If it doesn't go up after all these bullish fundamentals, I would be really worried for it's future.
Upcoming halving, coronavirus, Federal Reserve rate cut, Indian government canceled the ban on crypto trading which allowed more than billion people to trade crypto...
What else do we need for a move up?
For a move up, we need close above resistance while a close below the support would probably lead to a new low.
What’s more likely to happen?
I give more chances to move up because of all fundamentals in the market that are in favor of Bitcoin.
If it doesn't go up after all these bullish fundamentals, I would be really worried for it's future.
Upcoming halving, coronavirus, Federal Reserve rate cut, Indian government canceled the ban on crypto trading which allowed more than billion people to trade crypto...
What else do we need for a move up?
ETH broke out of the triangle, which is very good signs for bullish.
Before you start targeting the previous high, wait for the red area to be broken because if we form resistance there, this consolidation can form another pattern (rising wedge) that would actually be bearish. This is just hypothetical, but we need to observe all possible scenarios and choose the most probable one.
So far, the most probable one is a continuation of the move up.
Before you start targeting the previous high, wait for the red area to be broken because if we form resistance there, this consolidation can form another pattern (rising wedge) that would actually be bearish. This is just hypothetical, but we need to observe all possible scenarios and choose the most probable one.
So far, the most probable one is a continuation of the move up.
Crypto Signals
Bitcoin is breakout out of the falling wedge. This is the first bullish sign since the beginning of this retracement and it’s happening exactly at the support, which adds confluence to this setup. The first major target and resistance is at $9250.
We’re very close to reaching the first major target and resistance.
Crypto Signals
Bitcoin is breakout out of the falling wedge. This is the first bullish sign since the beginning of this retracement and it’s happening exactly at the support, which adds confluence to this setup. The first major target and resistance is at $9250.
From support to a major resistance and then rejection.
The main resistance was front-run by $25 but it’s still an awesome market move of more than $600.
The main resistance was front-run by $25 but it’s still an awesome market move of more than $600.
Crypto Signals
ETH broke out of the triangle, which is very good signs for bullish. Before you start targeting the previous high, wait for the red area to be broken because if we form resistance there, this consolidation can form another pattern (rising wedge) that would…
The move down shouldn’t be a negative sign at all.
For ETHUSD for example, if this area holds, we can expect uptrend to continue.
On the other side, if it closes below, the price action above was a shakeout and the opportunity to catch the majority on the wrong side.
So, wait for it to show you sign, don’t guess what’s about to happen.
For ETHUSD for example, if this area holds, we can expect uptrend to continue.
On the other side, if it closes below, the price action above was a shakeout and the opportunity to catch the majority on the wrong side.
So, wait for it to show you sign, don’t guess what’s about to happen.
The whole world is entering the phase where nothing is impossible.
We just woke up with the biggest opening gap in the history of Crude Oil.
Guys, this is the weekly timeframe and look at this gap that’s more than 1000 pips 🤯
Just two months ago, OIL was trading at around $60 and now it’s down to $30.
It’s a drop of more than 50% having in mind that the low is around $26-27 area.
When someone says that Bitcoin is too volatile, show them this chart so they can question what they’ve just said.
Yes, it’s volatile but so others commodities and currencies are that are way bigger and those drops actually affect the whole economy.
When Bitcoin drops 50%, it’s a loss of $50-100 billion. When this happens with OIL for example, we’re talking about trillions…
We are waiting for the US stock market to opens because we may be witnessing one of the biggest drops having in mind how important role OIL has in the US industry.
We just woke up with the biggest opening gap in the history of Crude Oil.
Guys, this is the weekly timeframe and look at this gap that’s more than 1000 pips 🤯
Just two months ago, OIL was trading at around $60 and now it’s down to $30.
It’s a drop of more than 50% having in mind that the low is around $26-27 area.
When someone says that Bitcoin is too volatile, show them this chart so they can question what they’ve just said.
Yes, it’s volatile but so others commodities and currencies are that are way bigger and those drops actually affect the whole economy.
When Bitcoin drops 50%, it’s a loss of $50-100 billion. When this happens with OIL for example, we’re talking about trillions…
We are waiting for the US stock market to opens because we may be witnessing one of the biggest drops having in mind how important role OIL has in the US industry.
What’s the most terrifying are the news that are coming from Italy where there’s a huge surge in a number of people who died from Coronavirus.
If you don’t know, 25% of Italy is in quarantine and everything is locked down in the whole country until at least April 3rd.
Do you know how much this is going to impact the Italian economy?
They’re living out of tourism and now everything will be closed for months and people will still be afraid to go there after hopefully the virus is gone.
Italy is still a small factor in world’s economy but just imagine what would happen to the world’s economy if something like this happens in a bigger country like the US?
People are asking is it smart to short S&P500 or and bet against it.
If the worst scenario will happen, all you need is food and water because nobody will care about how much money you have if it’s going to lose in value.
I’m not saying it’s going to happen, but after this drop of Crude Oil, nothing is impossible, especially in the bubble we’re living.
Stay safe!
If you don’t know, 25% of Italy is in quarantine and everything is locked down in the whole country until at least April 3rd.
Do you know how much this is going to impact the Italian economy?
They’re living out of tourism and now everything will be closed for months and people will still be afraid to go there after hopefully the virus is gone.
Italy is still a small factor in world’s economy but just imagine what would happen to the world’s economy if something like this happens in a bigger country like the US?
People are asking is it smart to short S&P500 or and bet against it.
If the worst scenario will happen, all you need is food and water because nobody will care about how much money you have if it’s going to lose in value.
I’m not saying it’s going to happen, but after this drop of Crude Oil, nothing is impossible, especially in the bubble we’re living.
Stay safe!