The rest of the equation, is all about human psychology.
Expected trading for today is between 6100.00 support and 8600.00 resistance
After many attempts to breach the resistance loctated at 8.6k, bitcoin price start to rebound bearishly and there are big chances to move towards 6.8k due to the negative pressure formed by EMA50, before any new attempt to raise again ( where the buyers will start to push the price towards 8.6k again).
Bitcoin price now is around 7900.00 level and keeps stability below 8600.00 resistance. The trend for today is slighty bearish.
All of us know, the move from 5947.00 ( the low of the year ) to 8600.00, came after a Senate Banking Committee hearing on the regulatory fate of digital currencies was not as negative as many investors had feared, but as the price was not able to breach 8600.00, I expect a correction towards 6800.00 level.
RSI is on the move down, so there is some bearish momentum left.
Note, breaching 8600.00 level and hold above it, will confirm again the bull run towards 9300.00 level.
Note, bitcoin price is moving in tandem with stocks and commodities, which is a different dynamic than in the past. The actual dynamic is not good for us as bitcoin investors, it is good for us as bitcoin traders.
Expected trading for today:
is between 6100.00 support / 76.40% Fib/ and 8600.00 resistance.
Expected trend for today :
Slighty bearish.
Medium Term:
Bullish.
Long Term:
Bullish.
The low of 2018:
5947.00 / Strong Support.
The high of 2018:
25000.00 level.
Interesting! Do you think this is still relevant now with this sudden prices spike?Im starting to wonder if this dip may not quite happen as expected!
It is not sudden spike!
I wrote .. watch 8600.. as breaching 8600.00 level and hold above it, will confirm again the bull run towards 9300.00 level.
Patience .. update coming soon ( need 2 hours)
sorry, i lose my mind when i panic.. i didnt buy though,, so im proud of myself today! Will keep an eye,, and patience yes! thanks a LOt my friend!
No problem my friend.. do not sorry
No call for now ..
The trend is up but is so risky..
Read my update..
We have to wait after 16 feb chinese new year!
Just when im 'supposed' to be on holiday! oh boy!
Very important note!
There seems ro be a global lack of liquidity which is sending nearly all markets to the south. Even gold (as a risk hedging asset) can't perform currently!
At last if the FED and the ECB get into panic they will start printing as much money as needed to stabilize all markets.
I hope that will recover soon his dynamic that was always in past..
The actual dynamic is not good for us as bitcoin investors, it is good for us as bitcoin traders..
Thank you for such helpful information about bitcoin dear friend, I find out the news about bitcoin only from your posts)
Thanks for support..
Wish you a great weekend..
Thank you for pointing out that the outlook is slightly bearing in the short-term. This is very helpful as I have already started buying little by little, and feeling uncertain if I should speed up the purchase. Now, it seems that there is no rush: dollar averaging seems a good option.
That high better be real soon, to be able to shut the mouth of crypto enemies worldwide. Thanks for sharing this information, ive followec to recieve more. Cheers
Well I just ignore them , I m at Crypto Community over 3 years and almost weekly someone is telling me it s going to crash to 0$.
the stocks are playing an role for the first time here damm
slightly bearish that's true but great for long term :D
Dear lordoftruth,
Looks good - agree with your article in many points. Thx for sharing my friend.
Nevertheless, I still think that it is quite likely to reach one more time a lower lvl - the last time for this correction. And after that we will start going bullish again (first new wave of the Elliotts). We will see soon.
Yours truly,
Gandalf The White!
I think we should keep patient. If we want to make some good profit it would be a idea buy some BTC. Cause I believe it's price will goes up.
This is very good informative news about cryptocurrency.Now all currency are very sad condition.
Thanks a lot for such a news.Keep it up
Bitcoin prices must be stable, reflecting in the years gone by. I make the bitcoin of future assets
Bitcoin reborn
Now we are passing very panic situation.You discuss many important point in your blog.
We hope bitcoin hit high rate soon
Very hopeful @sabihaa Your eyes are very pretty. Do you come to California often?
I look to acquire exchange coins like Kucoin shares...
I look to acquire Protocol/Platform coins needed for transactions within their platform. ETC, QTUM, ADA
I look to acquire gaming/gambling tokens
I look to acquire privacy coins
This somewhat diversified yet simple list helps me to really see where the next trade i make will help to strengthen my portfolio further. As long as you have a solid base that speaks to many Crypto market Segments , your portfolio would take market crashes much easier or avoid further damage. I have been told that when you look at your trades and refresh it, it should always be going in an upward trend. It may be in a 2% daily increase. Not up 20-30% then 10 mins later down 40%. Not easy on the emotions throughout the day as you check it and think about it until the next time you check it. We should be confident that the next time we look at our balance it will be larger and stronger from the army of coins giving it strength. Once you realize this, you can look to the other trades and see what you can shuffle around and buy to get you to that 5-10% daily increase rate. Its all about having the right mix. Please share your portfolio mixes with me. So we can all learn what a solid sheet looks like. We can all learn a lot and safe a lot this year so we can do some great things!
Just examples and my opinion. Do your own research before making any decisions disclaimer
Followed, and Upvoted by @cryptoryno33
Wonderful blog
I like your work in steemit life
Plz upvote me
thats pretty cool to know
Thanks for sharing the wonderful post,
@lordoftruth
Great analysis. I was waiting to hear your perspective on the recent bearish move. I was also thinking that the jump from 6k to 8.6k was just too fast for a solid and sustainable BTC recovery. If ever the 8.6k resistance is breached, what will be the next resistance level that BTC will need to overcome?
9400$. It's not hard to find support and resistance levels , if you want to trade look it up don't rely on someone online.
Thanks for your response. Is it not possible for new resistance levels to form in between 8.6k and 9.4k? Are they permanent? Sorry, I'm pretty new to this so I want to compare TAs and speculations from other people. I am not a trader. Even if I'll trade, I know I shouldn't be relying on a single person nor my own analysis. Thanks for the heads up.
We have to watch the level 8.6 K carefully
Thank you for the insights @lordoftruth! Hopefully I get as good as you in studying the trends of the market. :)
analysts and data are very good friends, this would be very useful for those who want to invest money in bitcoin currency. thanks friends for the data and analysis, hopefully the future bitcoin prices higher and benefit us all.
Thanks for this analysis!
Seems realistic; although anything can happen in crypto 😜
Thank you for sharing your insight. Greatly appreciated. Upvoted and Resteemed by @cryptoryno33
Keep up the good work!
Do you really think 25000 is the higher it will get?
thanks for sharing your view with us and it help to under stand the markert move
Hmm today btc look stable let's see what next
A little calm before the next storm? Or a slow and steady recovery back to $13,500? How long? What is the best strategy for times like these. Is purchasing up more Hash rate a reasonable idea while the market has been low? Perhaps putting money that is unsure may be better to put in there so it is always making your money work for you. Interesting concept. Definitely open to others as well. Position into Protocol coins for a more optimistic outlook on the platforms themselves and the ICO's they plan to launch. The more success within their market the more the Protocol coin value would rise as well. What are your thoughts @farhan12 and @sonofsatoshi
You got a 3.01% upvote from @buildawhale courtesy of @lordoftruth!
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thanks for the trading range will check it out :)
Thank you for your analysis.
Good luck
BTC to the moon with Tesla! LOL
Looking forward to getting to it's high. thanks for your analysis, thanks for sharing
Thanks for the information
This post has received a 4.92 % upvote from @booster thanks to: @lordoftruth.
this news is very nice for today.
i like bitcoin analysis.
@lordoftruth wow great article sir Felicitari pentru aceasta postare.
Este o analiza foarte clar exprimata cu exemple (si comentarii) exacte.##Upvote/Resteem###
very bearish trend today too can't seem to recovering for a bit now
I do see it the same way! Let's see how fast the correction goes though...
I agree with your post.
I think we we will retest the bottom. Maybe even break it.
8650 seems like its trying...