Daily Bitcoin Update: Was that a reversal?
Well folks, what we just saw was something that we have not seen in 8 months.
If you have been following me or no anything about bubbles and charts you will know how I have been consistently bearish since January of 2018. Every single “rally” has been a strong sell the news event and it has stYed that way. I knew the lows would be tested again and they were. The line held, not once, or twice, but multiple times over the last couple months.
The Support and resistance lines are very obvious as you can see the chart below.
The longer bitcoin has hung around this area the more bullish and less bearish I have become over the last few weeks. There is only ONE SIGNIFICANT DIFFERENCE between now and multiple months ago.
Sentiment
Yep, that is correct. The shorts are almost 50/50 now, which is much much larger than past numbers, and guess what else?
We now have crypto NOT going down on bad news, or not continueing lower on stop runs. This is huge! The swing in Sentiment you can see right before your eyes.
Look at the right of the chart, do you see the most recent spike down...that was bought backup in under an hour basically?
That is what you call a stop run/shakeout and now it’s an all out war within a $500 range.
If bitcoin gets above the 6600 mark I am expecting at least a 50%+ move AT MINIMUM...
Getcha Popcorn Ready
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by heyimsnuffles
!popcorn
!popcorn
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Hopefully Steem follows. It has gone up past couple of days!🐕
I have been thinking btc would move up to hit 6800-7200 once again.
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Will they pump again? Coz i want to have this one https://www.reddit.com/r/kucoin/comments/9g1xjx/now_open_kucoins_anniversary_celebration/ they were going to give 47 btc.
The price is at the tail end of a massive consolidation pattern, that "capitulation" everyone has been waiting for is not going to happen, too much buy support in anticipation to the Bitcoin ETF.
Man I hope ur right! I could really use some good news in cryptoland, my fiance has been hounding me for far to long about how cryptos are failing and its getting harder and harder to argue lately lol.. I believe cryptos are the future but she just doesn't get it no matter how much I explain..
I have noticed the strong bottom as well lately, so I'm hoping to see some fireworks sooner rather than later.. 😎
I like what you’re saying here too.
Check out my latest bitcoin long trade idea for a short term way to possibly trade the bottom.
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@heyimsnuffles, you are interested in reading, maybe you read me too
People seem to forget ever now and then that crypto is still so new, and so many people are still getting used to the idea that it’s going to be the next thing. The idea that societal sentiment is finally changing towards it, and with some actual data to back it up - is awesome!