Bitcoin Market Q4
Kraken chart.
Analysis: Expect bearish trend to be stopped and a trend reversal to begin within the 4900-4000, with these levels holding many demand and buy zones. However, use stop losses tightly, as a potential drop to 3700 (the start of the bullish trend in 2017) is part of the chart analysis. Fundamentals including macros and micros include recent BCH fork manipulation that adds to bearish trend as well as the market cap of under 100bn. Cyclical indicators such as growth rate seems to be drawing to a close, perhaps into a reset, with a drop of 70% leading into a steady 100-200% increase as Bitcoin has performed in the past. Futures market seems to bottom out at 4800, although there appears to be plenty of buyers on books as well as in MMM trading range with options at LedgerX, and even volatility has had an increase since last month. Meanwhile, Technical Analysis shows a more bearish signal. 50/200 EMAs: Shows a steady Bear Trend RSI: is grossly oversold NVT: Bearish for the next 2 weeks ATR: low volatility and price settling BUT.. sometimes that means consolidation is strong and may indicate an explosive Bullish move... AND our Fib lines (we use zones) : has price dropping into the final Demand Zone.
Overall, it would have to be an explosive catalyst for the trend to become an overall Bullish Trend. We still sit in a bearish momentum, or at the bottom of a sideways market. Sentiment is also bearish with alot of panic selling. IN the US, SEC regulatory climate may be creating more 'fear' in retail trader action, as well as the possible ETF denial or postponement. While the overall landscape of crypto markets are down, some have moved the Alts prices, contributing to the bearish sentiment for BTC.
Data: Demand Levels: 4700-4900 & 3861-4000 with old institutional buying levels of 4800-4900. The support line which is the start of bubble from 2017, has now come to be the "Bottom" of: 4220 A 'worst case' is the Floor at: 3017 And finally, the Mean Average price prior to the Bubble: 1700 - this would be when all else fails and if crypto dies.
Long Term Q4-Q1 is bullish with strong Buy Levels at 4750-4920 & Top trend/target at 9600k with Stop loss at 4715
Short Term into Dec: Bearish momentum moving into strong Buy Levels 4790-4885 & Top trend/target 6300-6800; stop loss 4705
Feel free to add contribute to this data at any time.
About me: I'm an equities trader (ETF & Vix) for asset mgt, forex trader for prop room, and crypto trader for myself. Been in crypto since Sept 2016.
I contribute as a guest, to crypto market updates on the Crypto Cowboys channel on Youtube
Analysis: Expect bearish trend to be stopped and a trend reversal to begin within the 4900-4000, with these levels holding many demand and buy zones. However, use stop losses tightly, as a potential drop to 3700 (the start of the bullish trend in 2017) is part of the chart analysis. Fundamentals including macros and micros include recent BCH fork manipulation that adds to bearish trend as well as the market cap of under 100bn. Cyclical indicators such as growth rate seems to be drawing to a close, perhaps into a reset, with a drop of 70% leading into a steady 100-200% increase as Bitcoin has performed in the past. Futures market seems to bottom out at 4800, although there appears to be plenty of buyers on books as well as in MMM trading range with options at LedgerX, and even volatility has had an increase since last month. Meanwhile, Technical Analysis shows a more bearish signal. 50/200 EMAs: Shows a steady Bear Trend RSI: is grossly oversold NVT: Bearish for the next 2 weeks ATR: low volatility and price settling BUT.. sometimes that means consolidation is strong and may indicate an explosive Bullish move... AND our Fib lines (we use zones) : has price dropping into the final Demand Zone.
Overall, it would have to be an explosive catalyst for the trend to become an overall Bullish Trend. We still sit in a bearish momentum, or at the bottom of a sideways market. Sentiment is also bearish with alot of panic selling. IN the US, SEC regulatory climate may be creating more 'fear' in retail trader action, as well as the possible ETF denial or postponement. While the overall landscape of crypto markets are down, some have moved the Alts prices, contributing to the bearish sentiment for BTC.
Data: Demand Levels: 4700-4900 & 3861-4000 with old institutional buying levels of 4800-4900. The support line which is the start of bubble from 2017, has now come to be the "Bottom" of: 4220 A 'worst case' is the Floor at: 3017 And finally, the Mean Average price prior to the Bubble: 1700 - this would be when all else fails and if crypto dies.
Long Term Q4-Q1 is bullish with strong Buy Levels at 4750-4920 & Top trend/target at 9600k with Stop loss at 4715
Short Term into Dec: Bearish momentum moving into strong Buy Levels 4790-4885 & Top trend/target 6300-6800; stop loss 4705
Feel free to add contribute to this data at any time.
About me: I'm an equities trader (ETF & Vix) for asset mgt, forex trader for prop room, and crypto trader for myself. Been in crypto since Sept 2016.
I contribute as a guest, to crypto market updates on the Crypto Cowboys channel on Youtube
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