<html> <p> Today we're going to discuss the Bitcoin price and the action inside the chart right now from a technical analysis perspective we are at a very unique range here right now my friends this in my opinion is just waiting to explode in one direction or the other so we're going to discuss the possibilities of both scenarios but I also want to discuss some outside external factors that I believe Bitcoin could be closely correlating with right now and why if it plays out the way that it may be shaping up to play out that it could spell some very very bad news for the Bitcoin Bulls here at some point in the future</p> <p><img src="https://goldprice.org/sites/default/files/inline/images/btc.PNG"/></p> <p><a href="https://goldprice.org/sites/default/files/inline/images/btc.PNG"><sub>image source</sub></a></p> <p> So as a full-time trader I'd like to discuss with you my strategy my game plan and how I plan to crush this market right now in the immediate term ladies and gentlemen moon them up alright so well begin with our Bitcoin technical analysis and of course before we begin this is not investment advice this is not trading advice these are only my own opinions ideas and speculative hypotheses on the market always do your own research and your own due diligence before investing or trading as this market is extremely high-risk and I am NOT your financial adviser </p> <p>I will never tell you what to do with your trades or investments that being said let's begin right here on the weekly time frame for Bitcoin now I mean unless you've been living under a rock you're probably well aware that the Bitcoin price has largely done nothing for about a month it's just been consolidating sideways in an equilibrium range chop chop chop chop chop right underneath this macro resistance is okay this makes a lot of sense for me here that bitcoin is stuck at this very specific region I mean this was where we consolidated for several months after our blow off top we then back tested and failed back tested and failed again and right now </p> <p>We are back at this level which until proven otherwise remains unbreakable okay so I mean it's only natural that the Bulls would see some buyer exhaustion at a level that has proven to be difficult in the past well let's get this crypto but what I do like here my friends is that we haven't seen any type of major correction from this range right we just seen a ton of choppiness if we go in here on the daily timeframe</p> <p>You can see right up down up down up down but really with no price growth the prices just remained in this very small area for quite some time so what I want to do here instead of looking at you know this intraday action you guys know I'm not in a day trader I'm a swing trader right so I'm looking for this next potential swing in the market whether that's up or down I really don't care which way it goes I just want to see a large swing because that is where I look for potentially life-changing trading opportunity right </p> <p>What we're going to do here is go out to the weekly and monthly time frames to look at a a more macro perspective of this market and then we're going to tie in the external factors here as well that I discussed in the introduction which could be bad news or good news if we flip around and look at it in Reverse okay</p> <p>So let's let's get right into it now let's go out to the monthly timeframe so if you guys notice here basically the trend if we go to the line chart right this excludes the wicks okay so we're just gonna look at this briefly the line chart is just where the candle bodies have closed now when we look at it from this perspective I mean this does look rather healthy to me especially</p> <p>If we are to draw a parallel channel around this here I mean we could see this in and of itself does look pretty much like a bull flag right I mean again let's just flip on the candle so you get an idea it's not perfect right but if we only take the closes into consideration I mean this does in my opinion closely resemble a bull flag here with a possible breakout right here right now right</p> <p> Just an interesting perspective to look at before we get into some more indicators here okay now if we flip on our MACD here what I want you guys to notice is that here on a monthly time frame we are seeing a cross right now on the MACD right the blue going above the orange line my friends when we've seen this occur in bitcoins past it has led to extremely favorable price action okay back there we saw that move break us out from underneath 6000 all the way up to 14,000 if we go back a little further in history right we crossed it here as well and what do you know ladies and gentlemen ding-ding-ding chicken wings for dinner tofu if you're vegan it was actually the end of the bear market right that was actually the very beginning of the bull run all the way to 20,000 okay so twice in bitcoins history we've seen this occur at least on this chart <br/> <br/></p> </html>
| post_id | 86,256,499 |
|---|---|
| author | whataidea |
| permlink | what-bad-news-for-bitcoin-bulls-crypto-analysis-ta-today-and-btc-cryptocurrency-price-now-2020-part-1 |
| category | hive-101145 |
| json_metadata | {"tags":["crypto","new","prediction","blockchain","steemit","bitcoin","ethereum"],"app":"steemit\/0.2","format":"html","image":["https:\/\/goldprice.org\/sites\/default\/files\/inline\/images\/btc.PNG"],"links":["https:\/\/goldprice.org\/sites\/default\/files\/inline\/images\/btc.PNG"]} |
| created | 2020-06-06 15:45:09 |
| last_update | 2020-06-06 15:46:57 |
| depth | 0 |
| children | 0 |
| net_rshares | 34,976,082,201 |
| last_payout | 2020-06-13 15:45:09 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 SBD |
| curator_payout_value | 0.000 SBD |
| pending_payout_value | 0.000 SBD |
| promoted | 0.000 SBD |
| body_length | 5,147 |
| author_reputation | -206,273,978,188 |
| root_title | "WHAT?!! BAD NEWS FOR BITCOIN BULLS?!! Crypto Analysis TA Today & BTC Cryptocurrency Price Now 2020 Part 1" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 10,000 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| honolulu | 0 | 33,323,934,871 | 100% | ||
| upv4life | 0 | 732,716,873 | 100% | ||
| freisein | 0 | 919,430,457 | 100% |