Bitcoin (BTC) Evening Update: A Monster Volume is Needed
SUMMARY
The MACD histogram is an early scout showing how the 12 day (white) and the 26 day (red) lines will move and in which direction. The two layers of higher lows shown by the histogram is uncanny. This means that there is strong probability that the white/red lines will also generate a higher low. That occurrence is my primary count.
The fractal nature of the current pattern to it's prior brother seems to only differ in size. However, the overall price moves and Elliott Waves are quite similar. Just as a monster volume had moved Bitcoin (BTC) out of the confines of the contracting lines; the second fractal needs the same monster type of volume move (green vertical rectangle). The current fractal also is a bit distant from the apex just as it had been for the first fractal.
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people need news for gaining confidence , only then volume will come.
It's going to be hard too do... too many people who fueled the liquidity up to 18,000 got burned - hard
I think it will be a long winter before public sentiment recuperates or institutional money decides to flow in.
On the other hand, a lower Bitcoin price gives an opportunity for new investors to get in. Where some people see a problem, others will see an opportunity.
yes you got the point....
I think we will see the same as 2014
I think we will see the same as 2014
Huge Green Dildo in 3...2...1...
Did you mean candle?
yup...
So, in other words, this is an interesting time for Bitcoin and for crypto.
These next hours and days will be exciting!
@haejin: I agree trend reversal may be happening:
https://steemit.com/cryptocurrency/@examachine/bitcoin-may-have-turned-uptrend
After tax season and when price gets to $6000.
don't be the guy to buy the bottom thinking it will reverse. Safer to wait for a clear uptrend. Even with an upside break out it could fizzle out and continue with the larger downtrend.
Yeah I would be waiting to see if it breaks into a new trend. Although It could very well go lower, I do not think we will see it dropping a ton more (for those that already bought), but you are better off waiting for confirmation
Bence bitcoin artık bir yatırım olmaktan ziyade kumar niteliğinde