reecerispoli
Member
Was deffiently expected
Bitcoin Technical Analysis
- Thread starter momo3HC
- Start date
sebking1986
Well-Known Member
Getting the impression this tip is pricing in the expected inflation figures again this week for the US.
momo3HC
Active Member
Absolutely. But the more strange is that even it`s a fact already it`s denied from many governments.
Swiss_cheese
Well-Known Member
Would love to see some updated analysis. I have seen a lot of short term bearish views online....
momo3HC
Active Member
I`m mainly looking into fundamentals and on chain data lately and the situation there is promising.
sebking1986
Well-Known Member
Tough to gauge with the Russia situation at the moment as it is creating a risk off sentiment which obviously isn't so good for crypto as a whole.
Swiss_cheese
Well-Known Member
Lot's of speculation on both sides of the Russia-Ukraine situation as to whether it has been good for crypto or not.
Looking at the charts from a technical point of view, it doesn't look like a considerable affect either way so far.
Looking at the charts from a technical point of view, it doesn't look like a considerable affect either way so far.
sebking1986
Well-Known Member
More interesting now is Biden's executive order. Good or bad for crypto? More adoption possible but more regulation with it.
Definitely will be interesting and also now FCA in the UK banning BTC ATMs
sebking1986
Well-Known Member
As well as going after Binance. Thing is as a % last year 0.06% of transactions could be attributed to laundering. $8.6bn out of $14tn on centralised exchanges. So the rationale can't be attributed to crime. Just a want to control it and fill their own pockets for tax.
HeavLeighG
Well-Known Member
I'm waiting to see how that one plays out as well.
So true, its a narrative that suits them and gives them the 'moral' high ground to ban it or regulate it. All predicated on what they want to spin
sebking1986
Well-Known Member
Regulate to tax and then make the cost of it higher. Then claim they are doing us a favour by giving us a tax break.
sebking1986
Well-Known Member
If it's anything like everything else so far under Biden it will be slow and drawn out. Unless it's pulling troops out of Afghanistan...
Definitely agree, things seem to take an age with him at the helm. Very frustrating for all involved id say
HeavLeighG
Well-Known Member
You're very right
sebking1986
Well-Known Member
Looks like we've broken out of the range nicely and consolidating the new level.
momo3HC
Active Member
Hi all.
Long time no see but there’s plenty of reasons for this. First of all there’s no major change in my TA view because I’m looking only in long term BTC perspectives. Secondly I’m really busy. But… these days I’m setting some new hardware, getting it ready for work and while I was looking at the newly added funtionality at TradingView I’ve found something really interesting which I can`t miss to share with you.
Just look at the chart below. It`s a 1D BTC chart with a perfect Elliott Wave (EW) price action. If you don’t know what Elliott Wave is you can see it here -> https://www.liberatedstocktrader.com/elliott-wave-theory-principle-examples-stock-market/. In short - Bitcoin is not in a bear market, neither we saw it`s top for this cycle yet.
The future projection (the blue line) is purely indicative. It’s based on the previous EW cycle which is good starting point for the next one and may be the next ATH.
That’s it for now. Think good about it. Soon I’ll try to look more deeper into charts to see what we can find more there to see more clearly the BTC presumable future moves.
Swiss_cheese
Well-Known Member
The dream of picking up some nice $20k bargains is slowly fading away.