Hello,
My name is Rokas. I'm a student of finance. I've been interrested in financial markets for about 3 years now. On my own time I chart and trade markets. I'm a relative rookie in this field. I did lose some money in the early days but know I have become consistently profitable and I'm slowly and steadily gaining it back. Now I mostly trade commodities. Gold, silver, natgas etc. Yet like most other traders I've been attracted to bitcoin by the volatility. Sure the fundamental/political aspect of it is appealing. But right now I think the volatility is here due to the speculative craze. At first I found it hard to chart bitcoin. Now that the market has matured a little it's more clearer of what's happening. So I made these a while ago but did not post them.
Disclaimer: This is not investment advice. I'm just a guy drawing lines on charts and sharing my oppinion on them. Trading in financial markets involves considerable risk. If you've never done this consider trading a paper account first. Learn to control risk trough managing your capital. Never invest any money you can't afford to lose. Before executing any action in the market do your on due dilingence and never follow anyone blindly.
I don't use this weekly chart anymore, since it doesn't work the best for me.
Price followed my charts pretty well, and I made some money whilst trading eth and btc the last month.
So now that I feel more confident with my analysis I want to share it with people here interested in the price action of BTC.
Here's what I see now:
I'm basing this bearish move on account of the price still having a long way to go on the weekly tsi and rsi to reset the sentiment.
The funny thing with BTC is that we can reach 5k and still be in a stong uptrend...
Thank you for your time. I hope you liked this analysis:)
Leave comment if you've liked what you see and want more:)
P.S. I'm long BTC from 8k going for ride to 10-11k for now.