BTC/CRYPTOCURRENCY Trading Analysis Update: 12-08-2020. Video 356




This market trading analysis applies to various exchanges, including Bitmex and Binance. Tackling questions like if Bitcoin can …


17 Comments

  1. I think this is a good set up going forward to have already broken macro resistance from the ATH. That being said, markets worldwide WILL correct/reverse at some point from this Fed fueled stimulus (IMO, towards the end of the year/early next year). BTC will almost certainly follow suit.

    Please remember that – relatively speaking – the halving has only JUST happened. Market cycles are getting longer. For perspective, after the prev. halving, PA took 9 months to reclaim the prev. ATH. If we follow a similar pattern, I can't see us closing in on 20K until mid 2021 at the earliest. If we punch thru 14K now, there's very little standing in the way of the prev. ATH. BUT – we're more than likely setting up for a bigger crash.

    Takeaway point is – yes, there is room for more upside and money to be made. But – and no doubt Forflies would agree – adhere to very tight risk management and keep a potential reversal in mind going towards the end of the year. My prediction is this is the final move in this macro cycle (eg. one more move up, one more major move down – then spring up), which, going forward, if you look at the TA, would result in a much stronger move up.

    So, if you're bullish, there's an argument to be made that a sharp reversal in the near future bodes well for the bigger picture.

  2. No one is getting rekted. BTC is going to slowly and painfully climb like a snail towards 12k and dump 10% in a flash over and over again for the next 2 months, just like it did at 10K. People watch videos like these because they are put out by dumbasses for dumbasses who only watch what they like to believe.

  3. Very useful content, thumbs up to your video, I absolutely enjoyed every bit of it, can you also review CWV, it has commendable features and with the new application the problems associated with technical difficulties of data integrity can be solved

  4. If you look at the overall crypto market cap, it topped out at 360 Billion and thats the same # as last years peek and we know what happened next.

  5. You are assuming as if the dump is done and thus seeing higher lows. The dump has just begun and could retest the earlier dump level of 10500. Look at the daily Macd which is turning bearish. Look at the daily stochastic ….it is over bought. Finally look at DXY…….it will rally in the short term and thus bitcoin will dump in the short term.

Leave a Reply

Your email address will not be published.


*