Bitcoin Chart Review and Update #9

khalil319 (54)in #bitcoin • 5 years ago

Bitcoin chart review

BTC CHART

BTC Chart Published By Philosof at TradingView

https://www.tradingview.com/u/Philosof

Comment: As forecasted BTC wend down to the next support level 5800 ✅ Today we monitor a bounce. Since price went above 6200 SR forming bullish engulfing, we may expect it to test 6500 as well. Traditional markets haven't yet given a clear idea on continuation, but while Bitcoin is under 6500 resistance its in downtrend + draw head and shoulders bearish pattern. Besides, world pandemic situation is far from good, so being too much bullish doesn't justify itself.

🙏 Stay healthy and at home

Resistance: 6530 - 6870 - 7150
Support: 5800 ✅ 5300 - 4000

Since TA does not say something WILL happen, only that something is more likely, it doesn't lie.

Fear & Greed index: 10 (<= 12 <= 8 <= 12 <= 14 <= 13)
BTC Dominance: 65.5% (<= 64.8 <= 65.2 <= 65.6 <= 65.9)
24h Volume: $108 billion (<= 103 <= 116 <= 115 <= 124)

Update

For the first news piece, we've got a gleam of hope in troubled times.

Huobi University Principal Yu Jianing, gave a live broadcast titled "Global Financial Storm Siren, How to Use the New Thinking of Blockchain to Turn Crisis into Opportunity." 💎

He commented that without the 2008 financial crisis, there would be "no birth of Bitcoin" and without the 2020 financial crisis, there would be "no prosperity of blockchain."

Yu also explained the basic logic of blockchain during the broadcast, and referred to what he called the "blockchain of thinking." source link

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