What about Bitcoin?
Bitcoin is waiting for strong fundamentals (mostly negative) that would create a new trend otherwise it will continue going up.
I have no setup for the current price action but looking at correlated assets such as Gold that’s doing pretty nice, more and more chances to see move up.
Only some big negative news can screw that up.
Bitcoin is waiting for strong fundamentals (mostly negative) that would create a new trend otherwise it will continue going up.
I have no setup for the current price action but looking at correlated assets such as Gold that’s doing pretty nice, more and more chances to see move up.
Only some big negative news can screw that up.
Bitcoin Update
Even though the price dropped today, it’s still in the formation.
To enter short, wait for a break of the trend line and daily $6800.
Short target $5800 (this is the main swing target).
For the bullish scenario, the trend line has to hold.
If we go back to $7200+, I will be targeting a breakout to $7700.
These are two trade setup, waiting for them to happen.
Even though the price dropped today, it’s still in the formation.
To enter short, wait for a break of the trend line and daily $6800.
Short target $5800 (this is the main swing target).
For the bullish scenario, the trend line has to hold.
If we go back to $7200+, I will be targeting a breakout to $7700.
These are two trade setup, waiting for them to happen.
Bitcoin is spending more than 48 hours at the support which is definitely bearish sign, especially because we’re approaching weekly closure that’s not that bullish at all.
I am still patient, waiting for that closure to happen but if we don’t see some miracle today and pump above $7200, I will be shorting Bitcoin.
These two green areas below are my targets for the short position.
Yes, Bitcoin halving is coming but it's the positive impact will be reflected 3-6 months from its happening and then further into the future.
Just because Bitcoin halving is coming soon, it doesn't mean you should be longing it. With all situation in the world economy and so many people bullish on Bitcoin halving in short term timeframe, I see contra effect that will catch the majority on the wrong side.
I am still patient, waiting for that closure to happen but if we don’t see some miracle today and pump above $7200, I will be shorting Bitcoin.
These two green areas below are my targets for the short position.
Yes, Bitcoin halving is coming but it's the positive impact will be reflected 3-6 months from its happening and then further into the future.
Just because Bitcoin halving is coming soon, it doesn't mean you should be longing it. With all situation in the world economy and so many people bullish on Bitcoin halving in short term timeframe, I see contra effect that will catch the majority on the wrong side.
Crypto Signals via @vote
What’s your opinion on Bitcoin?
anonymous poll
I’m bearish – 171
👍👍👍👍👍👍👍 55%
I’m bullish – 94
👍👍👍👍 30%
I’m neutral – 48
👍👍 15%
👥 313 people voted so far.
anonymous poll
I’m bearish – 171
👍👍👍👍👍👍👍 55%
I’m bullish – 94
👍👍👍👍 30%
I’m neutral – 48
👍👍 15%
👥 313 people voted so far.
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The discounted price of $197 won’t be active forever.
Why am I advertising my Premium Channel so much?
Because I guarantee the value I provide.
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The deal can’t be better.
Others are simply scamming people or buying cheap coins and then pumping them in their paid groups.
Because I guarantee the value I provide.
You get the guide written by me, weekly lesson, an amazing community of other traders, my trading setups and that’s all for one payment of just $197.
The deal can’t be better.
Others are simply scamming people or buying cheap coins and then pumping them in their paid groups.
OIL market recap.
This is not related to the cryptocurrency market a lot but it teaches us a lot about supply and demand and how important the relationship between these two is.
The OIL was the first to tank at the beginning of March for more than 60%, the first time since 1991 and the Gulf War.
Why did OIL drop so much?
The main reason was when OPEC (Organization of the Petroleum Exporting Countries) wasn't able to make an agreement on the production of the OIL. Saudi Arabia wanted to cut its production rate to decrease supply in order to keep prices high in times of lower demand.
They would do that if every other country does the same and cut their production rate as well.
Everything went well until Russia said that they won't agree. Not only that, Russia decided to increase their production rate. Saudi Arabia didn't want to stay behind and did the same.
All this supply increase lead to a huge drop in the price of OIL especially when countries like China started to return OIL tankers because of the decrease in consumption and they didn't need more of it expecting that consumption rate will drop further if the world gets hit by coronavirus pandemic which was at the rise at that time.
Then we had a huge drop in the consumption of OIL because of coronavirus pandemic which affected the price further and we have first countries to fill bankruptcy in that industry sector.
Finally, yesterday OPEC agreed to cut production rate for 10% but that's still not enough to cause a huge increase in the price since the consumption is still low and the supply of the OIL is still huge in the market.
Hope that this teaches you a very important lesson about supply and demand. If there's demand, low supply will always lead to high prices.
That's the power of Bitcoin compared to a traditional system where they can print whenever and whatever they want.
In short term, it may help the economy but in the long term, it weakens the currency because it creates an excess of money which leads to a devaluation of the single bill and its value drops with each and every supply increase.
That's why cash is not a good store of value and why people want to store something that's more scarce and hard to produce, such as gold and hopefully Bitcoin.
The same way you can't create Bitcoin out of anywhere, you can't produce gold out of other metals.
No matter what alchemist says, gold is gold and you can't replicate it the same way as Bitcoin and that's why gold was that valuable throughout the centuries and hopefully, Bitcoin will be the same in the years that are ahead of us.
This is not related to the cryptocurrency market a lot but it teaches us a lot about supply and demand and how important the relationship between these two is.
The OIL was the first to tank at the beginning of March for more than 60%, the first time since 1991 and the Gulf War.
Why did OIL drop so much?
The main reason was when OPEC (Organization of the Petroleum Exporting Countries) wasn't able to make an agreement on the production of the OIL. Saudi Arabia wanted to cut its production rate to decrease supply in order to keep prices high in times of lower demand.
They would do that if every other country does the same and cut their production rate as well.
Everything went well until Russia said that they won't agree. Not only that, Russia decided to increase their production rate. Saudi Arabia didn't want to stay behind and did the same.
All this supply increase lead to a huge drop in the price of OIL especially when countries like China started to return OIL tankers because of the decrease in consumption and they didn't need more of it expecting that consumption rate will drop further if the world gets hit by coronavirus pandemic which was at the rise at that time.
Then we had a huge drop in the consumption of OIL because of coronavirus pandemic which affected the price further and we have first countries to fill bankruptcy in that industry sector.
Finally, yesterday OPEC agreed to cut production rate for 10% but that's still not enough to cause a huge increase in the price since the consumption is still low and the supply of the OIL is still huge in the market.
Hope that this teaches you a very important lesson about supply and demand. If there's demand, low supply will always lead to high prices.
That's the power of Bitcoin compared to a traditional system where they can print whenever and whatever they want.
In short term, it may help the economy but in the long term, it weakens the currency because it creates an excess of money which leads to a devaluation of the single bill and its value drops with each and every supply increase.
That's why cash is not a good store of value and why people want to store something that's more scarce and hard to produce, such as gold and hopefully Bitcoin.
The same way you can't create Bitcoin out of anywhere, you can't produce gold out of other metals.
No matter what alchemist says, gold is gold and you can't replicate it the same way as Bitcoin and that's why gold was that valuable throughout the centuries and hopefully, Bitcoin will be the same in the years that are ahead of us.
Bitcoin is getting a little bit tricky with the recent price action.
Most likely we’re about to see fourth doji candlestick on a daily time frame - a sign of big market uncertainty.
Below $6800, Bitcoin is bearish!
Close above $7200, Bitcoin is bullish!
What happens in between doesn’t matter and will serve both sides to get rid of inpatient traders.
I’m out from the market, not in a position.
I was bearish going into this week after weekly candlestick close but almost 48h since that close and bears didn’t appear or maybe better to say, bulls successfully stopped them from dropping the price.
Whatever I use to interpret current market conditions, it’s not bearish as it was 2 days ago.
Both sides can happen and now it’s waiting for either $6800 or $7200 to get broken.
Weak technicals with strong upcoming fundamentals can push the price in either direction.
We have to wait.
Most likely we’re about to see fourth doji candlestick on a daily time frame - a sign of big market uncertainty.
Below $6800, Bitcoin is bearish!
Close above $7200, Bitcoin is bullish!
What happens in between doesn’t matter and will serve both sides to get rid of inpatient traders.
I’m out from the market, not in a position.
I was bearish going into this week after weekly candlestick close but almost 48h since that close and bears didn’t appear or maybe better to say, bulls successfully stopped them from dropping the price.
Whatever I use to interpret current market conditions, it’s not bearish as it was 2 days ago.
Both sides can happen and now it’s waiting for either $6800 or $7200 to get broken.
Weak technicals with strong upcoming fundamentals can push the price in either direction.
We have to wait.
There will be new Q&A in the channel. Send your questions to @CryptoSignalsAdmin.
After 4 consecutive daily closes as some sort of doji candle, we finally got direction in the market.
Bitcoin below blue area is bearish with the target at $5800 ($6000 in case of the potential front run).
Bitcoin is bullish if it closes above $7000.
Those are my levels that create my bias in the market and trade setups will be on lower timeframes (H4)
Bitcoin below blue area is bearish with the target at $5800 ($6000 in case of the potential front run).
Bitcoin is bullish if it closes above $7000.
Those are my levels that create my bias in the market and trade setups will be on lower timeframes (H4)
Forwarded from Crypto Signals Premium Channel
Seems like we can finally see the test of the resistance for ETH/BTC pair.
Just to remind you one more time, ETH/BTC is higher timeframe bullish if it closes above 0.025.
The close has to be at least at daily but weekly has to confirm it as well.
Then we can expect 15-20% moves up.
Otherwise, this will be range forever.
Just to remind you one more time, ETH/BTC is higher timeframe bullish if it closes above 0.025.
The close has to be at least at daily but weekly has to confirm it as well.
Then we can expect 15-20% moves up.
Otherwise, this will be range forever.
“Bitcoin is manipulated.”
If manipulation was a sporting event, the stock market would be the Super Bowl and Bitcoin would be two legless ducks playing badminton blindfolded on an ice skating rink.
Wake up.
Bitcoin is the closest thing we have to a free market.
Whales move Bitcoin prices. That’s the nature of a free market.
As a trader, you have the opportunity every day to attempt to be onside with these whales.
Stock buybacks, QE and bailouts prop the stock market, bond market etc. That’s REAL manipulation by governments.
Good luck finding a market to trade as a small fish that is not “manipulated” by bigger players.
If you have a problem with the cryoto market being manipulated, you have the power of free will - don’t trade it.
Or take better trades.
If manipulation was a sporting event, the stock market would be the Super Bowl and Bitcoin would be two legless ducks playing badminton blindfolded on an ice skating rink.
Wake up.
Bitcoin is the closest thing we have to a free market.
Whales move Bitcoin prices. That’s the nature of a free market.
As a trader, you have the opportunity every day to attempt to be onside with these whales.
Stock buybacks, QE and bailouts prop the stock market, bond market etc. That’s REAL manipulation by governments.
Good luck finding a market to trade as a small fish that is not “manipulated” by bigger players.
If you have a problem with the cryoto market being manipulated, you have the power of free will - don’t trade it.
Or take better trades.
Bitcoin has changed direction from my previous post.
Below the blue area, it’s targeting two green areas while Bitcoin above blue area is targeting the previous high at $7500 and main target at $7800.
I have a long from $7050 but to be honest, things are really hard to predict in these times. The stops are tight because you don't really want to be too far from the current price action.
If the price moves against you, it can be a very volatile move and wide stops will lead to bigger slippage which will additionally increase potential loss on a trade.
Yeah, the halving is coming and that's positive in long term for sure but you never know what can happen in short term price action so you need to cool off and look for signs.
Generally, Bitcoin is looking good and it's surviving this pandemic very well.
Below the blue area, it’s targeting two green areas while Bitcoin above blue area is targeting the previous high at $7500 and main target at $7800.
I have a long from $7050 but to be honest, things are really hard to predict in these times. The stops are tight because you don't really want to be too far from the current price action.
If the price moves against you, it can be a very volatile move and wide stops will lead to bigger slippage which will additionally increase potential loss on a trade.
Yeah, the halving is coming and that's positive in long term for sure but you never know what can happen in short term price action so you need to cool off and look for signs.
Generally, Bitcoin is looking good and it's surviving this pandemic very well.
Crypto Signals
Crypto Signals Premium Service - Official Pre-Launch A few months ago, I got an idea to step up the game and provide more value to the members of the Crypto Signals Channel by opening a Premium service. Since then, I have been working hard to make this happen…
If you want to join my Premium Channel, contact @CryptoSignalsAdmin.