Bitcoin Finds Support At Fibonacci Level | Mt. Gox Trustee To Sell More This Week? [Bitcoin Today]



Bitcoin Analysis & Bitcoin News Today: Will the Mt. Gox trustee keep selling Bitcoins? And did we fall because of the South Korean exchange UpBit getting into …

48 Comments

  1. I was just looking at the bitcoin chart. right now it is looking remarkably like what it looked like about a month ago when we bottomed out and there was a short squeeze. A lot of similarities including what looks like a smaller short squeeze. As you all know, a month ago we had a bit of a bull run after that.

  2. Also, the altcoins are in command here. Most of the action and the price increases have happened on the altcoins like BCH, ETH, EOS, NOT on BTC. Actually, if you check the fib retracement I talked earlier, the lowest recovery has been BTC's. BTC has behaved a bit like a snail for the past few days. Compare the recovery and the volume of BCH, ETH and even XRP against BTC. The threat of a continued selloff by the Mt Gox remnant is still undermining BTC. So, I predict a bit of sideways action before we return to 9K. Unless there is another selloff or there is a bad news scenario, I don't see a downfall. There is also a crypto conference or something on Monday. This one has been historically good for BTC and the market. Also, May has been a good month for cryptos in general. So, we shall see 🙂

  3. On this one, I totally disagree. If you look at the charts and establish a Fib retracement from the very top of the bull run (before the correction) to the lowest level reached in the correction, you will see that basically all of the top cryptos have gotten OUT of the red zone (23%) and have moved higher. The best performer has been Ethereum who has now returned to the green zone (38-50%). ETH RSI is now on the 65 in the 2hr, 59 on the 4hr, and 58 on the 1D with the stochastic on the 1D pointing towards a buying period, not a selling one. Also, there have been spikes in the RSI that have gotten out of the box in the past and have NOT disrupted the bull run or the downtrend. An example: ETH and LTC in January 2018 in the 2hr chart. You will see that there have been spikes that protrude out of the box but did not stop the downtrend.

    Let's not forget a crucial factor here: We already had a correction since the BTC was rejected at 10K. It turned into a panic sell because of the Korean exchange Upbit being raided by police. We also got Buffet and Gates trashing crypto.

    I expect a bit of a sideway action so the bulls breathe a bit and raise the levels. The bears put massive volumes during the sale periods. They cannot sustain that forever. The bears most probably ran out of steam and the bulls should retake the helm. That's what I expect. What do you think, Carl?

  4. hey bro, interesting video, you sound knowledgeable compared to some other youtubers i watch about bitcoin. If you dont mind, may i ask a personal question? im posting this before i watc your other videos, i was wondering what you think the price of bitcoin will be by 2021, im investing 4000 CAD $ in a few days and i mwondering YOUR opinion if its a good idea.

  5. dear carl as always I want to congratulate you for your excellent work .. I would like to make a request or maybe a suggestion .. in the sense of commenting on one of your upcoming videos like making bitcoin shorts..which are the key values..the breakout. what should be our stop … and what we should do with the rest of our portfolio … not lose in one of these devaluations. . and still take advantage of the situation obviously … once again congratulations for your excellent work and thank you for the time dedicated to us … another suggestion would be a day trade and swing trade course..logically paid .. there are many courses .. but you have a unique way of explaining things .. I believe you have a lot of advantage for this reason .. once again excuse my English .. continue like this .. the moon is your limit

  6. Are we on a a, b, c, d, e on your triangle and we are on weve e right now?
    (a) at $5878 , (b) at $11272, (c) at $6452, (d) at 9939 and (e) will be at $7300 approx??????

  7. Your explanations are quite clear and I like your TA. One day I will get to understand this stuff. Hallam in always sunny Barbados. Would you share on how a Bitcoin holder would plan and what they would do on a breakout to make money.

  8. I thought the dump off looked a little weird as well because the market was clearly moving in an uptrend at that point. I had just opened up a few positions and was doing well until they crashed it.

  9. Bitcoin is just in nomans land…..its too scared to go up or down and just bobbing round between 6k and 10k and being slowly slowly queezed over the months to around 8k………….I still think Bitcoin will be 8k at the end of the year…but where do we go from there?…………we will need serious FUD or serious Good news/adoption to really decide the price of Bitcoin……that's just my 2 cents.

  10. I am a bit confused – you made a great call and spotted the reverse head and shoulders formation, but haven't noticed that the recent fall was the 1st half of the 2nd shoulder? Just saying

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