Bitcoin (BTC) Mid-Day Update: Short & Longer Term Perspectives
SUMMARY
When Bitcoin (BTC) hit the $5,900 zone, there was a monstrous green volume on a daily scale (blue circle) and this was quite a bullish sign being born in the midst of panic selling. A similar event occured back during the September correction where then too, a monstrous daily green volume was seen to provide the impetus for a trend reversal from down to up. Price has since $5,900 decisively breached the upper white trend line resistance. So, the primary count is up.
On the short term, the upward pointing wedge could be signaling a minor correction; perhaps back towards the white trend line. What really shouldn't happen is that price re-enter below the white line because then we've got a different scenario. Nothing to get nervous about; only to be aware!
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Things are looking good for BTC.
Volume has been weak all day. Doubt we break through in short term.
It's weekend you're right in general tends to be weak volume, so we should wait until Monday to see a big bullish candle accompanied by a strong volume.
It's an opportunity for the alcoins to go up a bit more
Agreed. Though I won't be buying alts for a while, I have my positions set for long term and I am accumulating BTC
When the price goes up on low volume, it means that's the natural direction of the market. Low volume means whales are not trading (Saturday). Use this knowledge to your advantage.
No necessarily true, volume accounts for both buys and sells. So low volume could easily just mean one is missing from the equation.
Have you seen what happen when anyone try to buy anything on small exchange? Prices go up, not due to natural growth but because of low volume
I am the true cryptogod!
My TA will bring you all riches. Fuck this imposter, I am the true leader.
Haejin sucks, so follow haejinsucks!
Everyone go look at my firecoin projections here
Increase from $1.76 to $2.27
I am the true cryptogod!
My TA will bring you all riches. Fuck this imposter, I am the true leader.
Haejin sucks, so follow haejinsucks!
Everyone go look at my firecoin projections here
Increase from $1.76 to $2.27
@haejin I would like to see Steemit at Peace.
Could you please have a look....
I am offering Peace talks...either through me, or I can get you in contact with anyone that you would prefer to speak with.
Here is the post
Everyone go look at my firecoin projections here
Increase from $1.76 to $2.27
https://steemit.com/haejin/@thabiggdogg/this-is-not-the-haejin-we-have-on-steemit
I have been waiting for this update. I love the Haejin BTC Updates the best. @Haejin is BTC your top investments? Tell us your secrete sauses.
not funny
flag & ignore
WOW you a right adri... But just wondering???? What would be the calorie count on those?
@adri1202 You couldn't ignore me if you tried, sweetheart.
Cryto currency is bouncing back
you think so?
I think that Crypto currency (and Crypto assets) will be bouncing all over the place for the next little while. Although I'm just a small-time knucklehead and not to be taken as anything but opinion, I think that the strong Alts will have their almost usual highs and lows, but slowly will raise their bottoms steadily over time. The weak Alts will either fall out of the game or suffer from lots of Pump-and-Dumps so that some select few can make a few buck on them. The 'Big Boys,' such as Bitcoin, Ethereum, etc, will potentially see some huge bounces...and hopefully we will see them reach higher values than they have been as of yet!
My concern is that only BTC is currently benefiting from growth. The current cycle is trending towards a return of a stronger market cap dominance for BTC, this in itself if fine, but the overall market cap for cryptos is simply not growing at a noticeable rate.
New investors are needed to keep a sustainable rate of growth over the levels seen in December.
I'm still new here why does this Baejin keep doing this? Can't we do something aboutr him. I'm tired of having to scroll so much here to read comments.,
Do not know what you are talking about. Have you tried the [Mute] button? 😉
Mute him
OK didn't know how that works. Thanmk you for your heklp.
When knowing the bitcoin history you can guess it's future you can see in this infographic that the price is always standing up after a big fall for example in 2013 bitcoin got up from 100$ to over 1000$ then the big fall of 2014 then in 2017 the game completely changed the prices are still volatile but the graph is repeating it self at a different scale .
bitcoin history in one and single image