According to Gareth Soloway, chief market strategist of InTheMoneyStocks.com, this might be the case.
Here's the reason:
$46k support was broken January 5th.
This correlates with what Peter Brandt, Author of Factor Report and famous futures elite trader, tweeted today about the violation of Bitcoin's parabolic move that he predicted a while ago, but didn't take it very serious in the beginning:
By the way....
Did You Know?
Bogdanoff brothers, famous for the meme "DUMP IT", have died at the age of 72. Days apart….
It seems they BOTH died of Covid-19.... or just faked their deaths to finally rest in peace. They were very intelligent guys, who knows right?
Ok now let’s head to my analysis:
Buy when the RSI reaches 40 or less in the weekly chart. The ideal case would be to buy when RSI is closer to 20. The thing is, at least on this chart, it never happened. But it did.
What happens is that most of BTC charts from exchanges (pairing with USDT) have started just a few years ago, while Btc started more than 10 years ago. So, keep in mind the indicators are kind of cheating you.
If that’s not the case, well, Mr. Soloway could be right saying we’re going towards a DOT-COM moment in crypto.
If BTC is going to drop below 39 on the RSI, GET READY FOR THE BIGGEST DIP OF THE YEAR INCOMING.
If you want to add this indicator to your charts, the name is RSI+EMA by CryptoCrown. It’s available for free to use on TradingView.
Let’s look the daily chart for BTC/USDT:
As you can see, the RSI+EMA indicator is showing we are already below 40, which signals that BTC still has space to drop even more. I’d personally wait for it to go below 30 in the daily chart before making a substantial investment.
To finish:
I found a very interesting app to stay up to day with crypto news.
It’s called Crypto Panic, and can be found on both iOS and Android App Stores.
You get news from all over the world in real time. It’s very useful if you want to be the first to know things.
Look how cool it is:
Time to go hiveans. If you enjoyed this post, don’t forget to give it an upvote!
See you in the future, pathfinder.
May the force be with you, as usual.
Best regards,
@xmauron3
The future is awesome.
Do you think it's a bear or a bull?
Bear short term … bull market only second semester
How, exactly, how long will it take, what you call a short term, and what do you think will be the BTC target in 2022?
If it stays above ~$38k expect 100,300k this year. If it drops below, expect a long bear market…… short term i mean, if you are day trading. If you are investing long term, it’s a different story. Short term would be 1-6 months. For long term id suggest you to use the weekly chart.
Bear markets tend to last several months. We had bull markets lasting 5 months, bear markets lasting more than a year….. it’s like the seasons of the year. That’s how you should look at it.
The trading strategy depends on you kind of trade. Day traders want to make money everyday, that’s why I mentioned short term, because I believe there will be a push up for a few days before dropping more. But one thing is for sure: Bitcoin will drop because binance is facing serious legal problems in the USA. Even if nothing happens, the fear of regulation will inevitably cause a drop in the next weeks. Binance has a meeting with usa govt on Monday. I truly believe binance is corrupt. And I hope they pay for their crimes. Let’s see. But we NEED a drop in order to continue rising . Trust me. And relax. Bitcoin is STILL the future ;). Cheers brother
Thank you very much. It was a good explanation for me. I just bought long term altcoins.
You are very welcome =)
only what the government wants to hear is how to tax traders, and probably get some funds from binance as fine.
What I don't understand is exactly bull or bear
thanks for your post,
in long therm there are several prediction of bitcoins but in all situation I think it will raise higher than 64K, don't you think so? in 3 to 5 years.
100% sure unless they make it illegal in the USA or Europe
Btc currently trading at an uncharted region anything could happen now with btc
exactly. the thing is, it hass been going up for too long. I truly believe there has been a lot of manipulation involved. binance has the richest btc wallet. they are eating every satoshi. market will become more decentralized next months and years. but for now, binance rules the scheme, and a huge drop, even if momentarily, is possible. thats why ill buy the dip as if there was no tomorrow.
bitcoin is not a bubble, is a measurement of the collapse of fiat.... but we cannot forget there is the futures market on Binance and they do manipulate it. there's no regulation involved and we cannot even prove they hold that infnite amount of usdt or btc. it could be all fake, just like the banks do with money. I wouldn't be surprised if people start withdrawing from Binance, they wouldn't have the money or crypto to give back to their customers. at least not the full amount.
main bubble and dump has not setin, the market reacted to my personal prediction bouncing from the 39k rejoin
I still think this is just a small correction before continue dropping.
But I’m taking about bitcoin in the next weeks. Btc should go higher, as you can see the EMA is pointing up in the weekly chart, and the RSI is still above 50 which is good.
BUT , THERE will be a crash before the end of the year. Look how hig the ema went in the past weeks. And both ema and rsi still didn’t touch the red zone. It will. Eventually. It’s a matter of months. It’s always like that… green and then red. There might be some RSI divergence if price goes higher than before without touching the red zone, which is think is possible. In this case, things are gonna get wild.
normally lets keep all fingers crossed
Do you know the song called: “Relax take it easy”?
I got in in the teens...
I'm riding it out because when the turnaround hits,
It's going to be like a 🚀💸🌕💸🚀
Definitely!! It seems bitcoin will surpass gold in market capitalization this year. Gold will soon be a thing of the past.
I think...🤔
The Rocket is about to take off!
👍🏼🚀😂🚀👍🏼
Yay! 🤗
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