Topic: Patience is Key in Long-Term $BTC Outlook... - page 3. (Read 2511 times)
I totally agree with you but if you also do small trading that will keep bitcoin in the market and even you can leverage your price and even you can get more return and you can up the bitcoin investment.
I see many words that i have to read. Would you ever make a youtube channel and talk it through that way. People give away much info for free now anyway like this channel is great:
https://www.youtube.com/channel/UCxGWV3wgUUwL1gQVXqS53Dg/videos
Long Term Outlook (UP AS LONG AS 350 $ HOLDS): Fortunately for some and unfortunately for others, the market is back to its stable ways as indecision and distraction continue to weight on the market. A few weeks ago the distraction was Monero, this week it is a bug in the new Ethereum client that sent ETH hash rate and price down substantially overnight.
Regardless of what the cause, the technicals have been steadily signaling this type of sideways action for quite some time, and are now starting to resemble other consolidation periods fractally so at least we have a notion of where we are headed, generally speaking. Having said that, we want to make sure we are in tune with the market by taking a look at the long term timeframe today via the monthly chart below.
First of all, the rounded bottom at 150 $ and the bullish market structure since then should both be extremely encouraging for longer term bulls. Not only that, but it appears as though we have a working Cup & Handle with support at the uptrend line which is a bullish continuation pattern. Finally, SCMR is painting bright green candles in addition to strong dynamic support at 350 $ meaning that as long as we hold above there then the bulls will remain in control. On the other hand, Willy is getting awfully close to overbought, RSI is pulling back but remains bullish, and MACD is rolling over slightly for the time being.
Additionally, volume profile is still rather porous although we are back inside the value area, and the A/D line remains steady despite lackluster price action and low trading volumes over the past few months. All told, the chart is giving mixed signals for the shorter term outlook but remains bullish over the long term.
Patience and neutrality will continue to be our defenses for the time being, although we are still buyers of dips down into our ProTrade long zones.
https://www.bullbearanalytics.com/
Regardless of what the cause, the technicals have been steadily signaling this type of sideways action for quite some time, and are now starting to resemble other consolidation periods fractally so at least we have a notion of where we are headed, generally speaking. Having said that, we want to make sure we are in tune with the market by taking a look at the long term timeframe today via the monthly chart below.
First of all, the rounded bottom at 150 $ and the bullish market structure since then should both be extremely encouraging for longer term bulls. Not only that, but it appears as though we have a working Cup & Handle with support at the uptrend line which is a bullish continuation pattern. Finally, SCMR is painting bright green candles in addition to strong dynamic support at 350 $ meaning that as long as we hold above there then the bulls will remain in control. On the other hand, Willy is getting awfully close to overbought, RSI is pulling back but remains bullish, and MACD is rolling over slightly for the time being.
Additionally, volume profile is still rather porous although we are back inside the value area, and the A/D line remains steady despite lackluster price action and low trading volumes over the past few months. All told, the chart is giving mixed signals for the shorter term outlook but remains bullish over the long term.
Patience and neutrality will continue to be our defenses for the time being, although we are still buyers of dips down into our ProTrade long zones.
https://www.bullbearanalytics.com/
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