About three days ago I posted at the time what I thought would be the route to follow for BTC; this post is written as a follow up on such a post.
As mentioned, here again, this is simple straight forward technical analyses. No fundamental or know-how of the finances of market at all. I do believe that all the HISTORY of a commodity is already there embedded in the charts; so why look somewhere else?
In any case, today I dare to say this:
The target of 3000 still stands NOT TESTED yet. Be ready, if it breaks it, jump on, otherwise might want to consider going short.
The large volume of transactions was a good signal of acquisition; gives some tranquility to those holding the asset. (today July 21st, volume so far is kept below yesterday’s high which is a good signal)
The large change in price for the asset say the market is looking to ascertain a better value for their money – i.e. willing to pay more for a higher ROI.
Remember, as before, I say:
S = support
R = resistance
V = volume
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