Bitcoin movement
Now my old short was meet with defeat, yet than the good old coronavirus hit and bitcoin gave me the middle figer and we hit our target. Will link it below, yet now I'm curious. r/Cryptocurrency is dead almost and everyone just wants to short bitcoin till 2k or even 1.5k. IMO I don't believe that. Now I entered a trade on bitcoin and litecoin on robinhood, yes I know and I just wanted to trade stocks with crypto and I just got the robinhood debit card so to me its fine. My litecoin trade lasted till NCLH hit my price target so I bought LTC on March 27 for 37.65 and sold today at 38.68 before buying nclh and putting the spare money into bitcoin.
My average price on bitcoin was 6396.31 with atm being up 2.29%.
Now I like being reasonable and I set a target of 8k, yet looking at my trendlines I circled an area at 8196-8564 before the halving. Now I'm about 40% postive we will hit there and 70% we are bullish. Now you can just look at the whole cryptospace on why they are bearish, yet I honestly stop watching r/Cryptocurrency due to the amount of shillers and junk that keept getting posted, yet now I'm bullish during this virus.
So does the charts support my ideas
-the MACD is over extended, yet could move up another 40 like before over extending the price action, which could hit 7k very soon.
-RSI is overbought, but most the time BTC loves being overbought in a bull market sceniero. YES I know we are in a bear market, yet we can have bullish runs for awhile.
-The emas have just crossed and we have broken above them, which shows bullish movement with the next ema looking to cross in a day or two.
-Buy volume has picked up since march 30 this morning with china market down and US market sideways as oil drops and gold and silver droping slightly.
I would be a buyer at any price, yet stop buying around 7200, which possible we wont hit that 8100 or 8500 range. Also to end this please stay safe out there. The virus may not kill, yet will decrese your lung functionality by 20-30% so you likely wont "recover" fast.
My average price on bitcoin was 6396.31 with atm being up 2.29%.
Now I like being reasonable and I set a target of 8k, yet looking at my trendlines I circled an area at 8196-8564 before the halving. Now I'm about 40% postive we will hit there and 70% we are bullish. Now you can just look at the whole cryptospace on why they are bearish, yet I honestly stop watching r/Cryptocurrency due to the amount of shillers and junk that keept getting posted, yet now I'm bullish during this virus.
So does the charts support my ideas
-the MACD is over extended, yet could move up another 40 like before over extending the price action, which could hit 7k very soon.
-RSI is overbought, but most the time BTC loves being overbought in a bull market sceniero. YES I know we are in a bear market, yet we can have bullish runs for awhile.
-The emas have just crossed and we have broken above them, which shows bullish movement with the next ema looking to cross in a day or two.
-Buy volume has picked up since march 30 this morning with china market down and US market sideways as oil drops and gold and silver droping slightly.
I would be a buyer at any price, yet stop buying around 7200, which possible we wont hit that 8100 or 8500 range. Also to end this please stay safe out there. The virus may not kill, yet will decrese your lung functionality by 20-30% so you likely wont "recover" fast.
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