DBL bottom on BTCUSD signals resistance

Тема в разделе "English", создана пользователем Trading Ideas, 5 окт 2019.

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    DBL bottom on BTCUSD signals resistance
    As indicated by some technical & some practical indicators— we should have seen more bearish price action; that was the general consensus based on market conditions, overall...

    However the double bottom and refusal to fall below $8,1000 to the $7,890 (Which would be the next point assuming a selloff followed suit) yet remarkably the power of minnows are Keeping BTC USD price action afloat.

    • Despite Every blue, killer, white, and sperm whale rigorously try to drive Price down while many alts consolidate, it appears as if the community is not having it.

    Clearly they are not interested in Letting the powers that be (whales) dictate priceaction as a slight review of blocktrades reveals its not whales or those HODLing a big stake in BTC that are preventing the next selloff in this bear cycle, but rather the flurry of small transactions initiated by minnows.

    There is nothing more refreshing as well as satisfying than seeing The community rallied together against the 1% to 1% and The community rallied together against the 1% of the 1% handful of select few — for what we’re witnessing is economic democracy in its purest form.

    Remember; whales try to dictate the price action to their liking by invoking massive FUD; generally panicking all minnows to follow suit like a row or dominoes.

    Reason why it is particularly exciting is that the volatility due to semi quasi- unregulated markets are revealing that Unlike $USD $EUR $CAD $JPY and other $fiat currencies; it is a sobering reminder that BTC & crypto belong not to the 1% but to the collective community as a whole.

    Double bottom now taking it a step further by Illustrating a narrative where the minnows have successfully & systemically increased their positions & played chicken with the whales; who evidently blinked first!

    If we continue this trend, I’m thinking it’ll get to the 8340 Resistance zone by the end of the weekend based on current market conditions.. After that BTC should probably fluctuate with another round of sideways price movement as the big players wait for a major rumor/news before making any decisive action.

    As usual the green and red horizontals indicate the target zones for TP/stop. I encourage you to stick with the stop loss (always) and set alerts at the green horizontals respectively.


    • This is not financial advice; it’s merely my own opinion and excessive research && TA — an educated observation on current market trends as I see it: due to numerous credible variables && indicators.

    Peace & Love

    Have a wonderful weekend

    • -@a1mTarabichi
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