Bitcoin is often called the first crypto currency. Bitcoin is better described as the first decentralized digital currency. It is the largest of its kind in terms of total market value. Bitcoin is an instrument of alternative finance, which has emerged outside of the traditional financial system. View live STORJ / XBT chart to track latest price changes. Trade ideas, forecasts and market news are at your disposal as well. Kraken is more than just a Bitcoin trading platform. Come see why our cryptocurrency exchange is the best place to buy, sell, trade and learn about crypto.
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I've kept in mind that the fundamentals are telling me that institutions are FOMOing into the market along with the rest of the retail investors which could be one of the primary driving factors. In conclusion, I think overall that BTCs future is bright and that in the long term it will do more than just compete with national currencies and international regulatory bodies. Comment: The higher we go, the riskier the buy becomes, so I color coded the support and resistance lines based on yellow as a cautionary long range, orange as a high risk long range or a short term shorting range, and red as shorting range.
The potential resistance lines on the bear run during a corrective dip would create a descending triangle and are labeled as a red as a cautionary shorting range, yellow as a low risk shorting range, and green as a safe shorting range. This only holds if we begin seeing the formation of a descending triangle. The angle is based on the angle of the previous bear run, so it could be a sharper drop or a more gradual one.
DOT has broken out nicely from the descending downtrend. It is now headed to approx. Good Daily and Weekly candle indicating reversal at least for short-term days. Looking like the Primary Wave 1 has completed with an expanding diagonal, and in the motion of Wave 2 here.
Bearish Divergence playing out I was looking at Tezos a bit more bullishly, until I zoomed out. Not taking a position at this time. The strength of Bitcoin looks to have topped off here. Feel like we will get 1 more leg down to test lower descending RSI Trendline, and from there we can look for the next bullish move. Strength looks to be tapped here and potentially going to start a decline in Chainlink. From my wave count, this would put us into the intermediate Wave C, then completing the primary Wave 2 of one higher degree.
Do your own research There is always a possibility of it breaking the resistance trend line and going up to 14k!! Pro Tip. The market never goes sideways, only up and down.
Predictions and analysis. Videos only. Top authors: kraken. Automated Trading Strategies Guess what!? Bitcoin Perpetual Swaps v Spot basis suggest overlev longs. Gnosis Fibbing. Chainlink to Descend for Intermediate Wave C?