All time highs!! ETF take us to $10k!?: Bitcoin Lookahead # 15



hello everyone and welcome to my bitcoin speculation videos first of all thank you very much to bill for his point 05 BTC donation sorry it's taken this long to recognize you but I didn't forget anybody Bitcoin wise the price hasn't changed from two months let's just ignore this mess down here focused in this when right here I'm kidding but yes that's right new all-time highs from 2013 congratulations to those who accumulate in the stagnation of 2014 and 2015 looking at the price action now here we can see a sort of magnetic attraction to the 1150 to 1,200 price range although was a parabolic increase in the Bitcoin price in the very beginning of 2017 this collapse will be closing of margin positions and very cheap indeed free credit successive decreases in price have been news triggered but quickly bought back remember this long term trend line from look ahead 13 roughly two dollars a day extrapolator we have several support contacts in both mid to late January and mid-february so we know this line is still in play indeed during the People's Bank of China formal investigation announcement on January 11th the price broke through this trend rows back to and retested the same in both directions while historical trends cannot be trusted as gospel this does provide the active trader some confidence the price section below this trend line is very favourable to accumulate for long positions instead of a position above eleven hundred dollars where the trader may be more reliant on the greater full theory remember you're buying will selling high you decide the time for your trade there are a few ways I can interpret the volume here in the past two months we've observed many short-term peaks and higher lows on a longer period or trend these trends which have only broken through the catalyst of news it's performed to draw trim only two data points but with this very short term rebound it gives us the second data point to generate the slower higher low trend we need more data to confirm this trend an exact and shorts and peak to provide us with the possible channel bread it may very well be this lower zone in which case we'll see increasing volatility but if technical analysis is pseudo this would be modern art back to the old favorite the Bollinger Bands after lower high with a long candlewick top we see the Ford our bollinger bands coming in together for a period of consolidation from what I've seen on these marks support and resistance levels it's forming a symmetrical triangle where the middle zone may be a new support around twelve hundred dollars in quarterly futures however that would mean this folder candle is a failed breaker so we may see a retest support eleven hundred dollars and further consolidation in a 100-dollar ranging market judging by the present angle of attack of the top and a steeper curve indicates that the market has transferred from a volatile to a more stable position this list here indicates a likely ranging market overall and this isn't going to be a popular opinion and the little bearish here but not enough to take a short position with the daily Bollinger Bands to white and so far away from the shore long-term support rent this isn't a spot i would buy for a long position it's a significant gamble and more fear of missing the train with this possible consolidation pattern it's safe to move up to stop near lower long position and wait for a difficult buying more bitcoins looking up their potential of 1250 without a news catalyst speaking of News catalyst a surprising upset in the fight for protocol dominance in Bitcoin with Bitcoin unlimited surging past segregated witness and percentage of maine's blocks briefly on the fourth of februari this is a mid pressure from the expanding network continuously hitting the artificial one megabyte transaction block size with the average block size confirmation time and then pull act to transaction counts all rising significantly with this limit the average transaction fee to be included in the next six blocks is 40 cents in the next three blocks fifty cents and this is the law of the price range a new solution in consensus must be found quickly to avoid the feast spiraling out of control from higher than a credit crunch in Section 27 to 35 cents to higher than western union at five dollars oh and one more thing march 11th every Bitcoin speculator investor or developer worth their salt has this deep marked in calendars following several years of SEC filings and delay on judgment ruling the decision on the Winklevoss coin ETF will have to be made by March 11 the ETF if approved will allow the mom-and-pop investors to diversify their portfolio into cryptocurrency easier than endeavoring into new technology with them none to them safeguards transactional methods etc etc this takes it as a sphere of enthusiasts and into the greater space with pundits on pit mix betting roughly a 34 to forty-one percent approval possibility it would be the underdog winner but stranger things have happened with both the underdog US presidency and British financial policy well I think that just about wraps it up for this video thank you very much for watching and Cheers please like and subscribe if you'd like to see more content like this

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