Hope this idea will inspire some of you ! If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video. Don't forget to hit the like/follow button if you feel like this post deserves it ;) Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum. You can check my indicators via my TradingView's Profile : @PRO_Indicators Kindly, Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
May be this drop has something to do with the extra cruel US tax rules on cryptos and the arrest of 4 South Korean crypto exchanges' executives, not to mention the overall lack of trust in the crypto market. I think the only players left are the exchanges and day traders, with no new investors bringing their money in. Also, some researchers have used this so called Metcalfe's law which points to the BTC support level at the market cap of 22-40 billion (currently more than 115 billion) technologyreview.com/s/610614/how-network-theory-predicts-the-value-of-bitcoin/
Anyway, thanks for the update. Your TA by far is the most reliable one I find on tradingview.
UnknownUnicorn995432
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Also forgot to add that the Bank of Montreal has banned crypto purchases using debit cards.
PRO_Indicators
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@doctorkesh, Thanks ! We'll see... as expected we're not digesting this "thing" and for now supports are still holding... patience is still the word for me ! We'll talk about that as well today !
Overall in the medium term I do see a target between 3k-5k range where consolidation should take place. This is a recurrent cycle with BTC. The longest chart that I can find is the Bitstamp BTCUSD. I could merge the Mt Gox chart with Bitstamp, but that becomes a bit confusing.
Still bullish in the long term though. This bear market is likely to continue until July at least, or may go to 2019.
jimo79
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My view is the MACD on the 3D, 5D and Weekly timeframes is still falling. Simply we are still in a falling market cycle
dream300zx
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@jimo79, Yeah, I agree, but some of us still trade shorts