Bitcoin analysis

It may get choppy within that triangle. Most probably, it would make a bullish breakout, which would push the price towards 60K. Thanks for sharing your trading chart.

Always fascinates me how different people see different things - especially with crypto.
Seen some pretty solid arguments in favor of a bearish movement, but this also looks really promising.
I’ve actually closed out all my positions around $50K as I’m feeling pretty uncertain on the next steps.

That has always been the case with market analysis, regardless of the intrument being analysed, I think.

We are still narrowing before the break. I think you’re right to assume a bullish break. I’m hoping for a massive downpour in gold so that people use BTC as a safe haven

Looks like the 3rd trade is triggered. Let`s see how it will continue.

Good call, we are in the $52k range now. Did you hear about 7th December and all the south Americans buying $30 BTC at the same time? This could see a big push up! Or could it be a little whale trap?? Soon see!

Good morning all, checking back in on our Bitcoin buy’s. Nice to see all is going well, from the first position I bought in at we’re currently 18K pips in profit. The bull run has continued to progress and the second stacked buy position I gave out is currently 6.4k pips in profit. All well above good R:R ratio’s. So your free to close partial profits or lock in profits with a SL. Price has now broken above the 50k barrier, so all is looking well to continue. There could be a possible 3rd area here to stack again. But as I have two I wont be entering again. No need for greed. But if you missed out on any previous then go right ahead. Keep holding and ill update again soon. GLIYF

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@Glastonburyk

Its laughable the idea that Bitcoin is a safe haven.

The dollar is a safe haven, bonds are a safe haven, gold is a safe haven, even the JPY is a safe haven.

Bitcoin has far too much volatility to be a safe haven.

Speculative asset for sure, safe haven, not on your life.

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18k pips profit is crazy. When are you retiring? :grinning:

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It may not be right now but it will be soon. It is becoming more and more institutionalised and once it does it will become more stable.

@CraigForex2020

Yes you may well have a point there - but then again it may be mass delusion.

Why would Bitcoin be the safe haven, when clearly other coins are cheaper to transact with, faster, have more utility and don’t add much in the way of a carbon footprint?

Let me answer that…it’s probably the Dow Jones Industrials of the crypto world. Everyone knows the S&P is more reflective on the economy, but because the Dow was the first, it’s got the ‘brand name’.

I still can’t fathom why anyone would run to it in the event of Iran nuking Israel - but I guess that is what makes a market.

Great trading asset, terrible investment IMO

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Does anyone know why it crashed l;like that? :frowning:

Again it will up in 2 weeks. it dropped as technical

I recomme you to buy from cheap coins right now. Everything very cheap for example SXP and XRP, BAT… Do plan long term if you ask me.

Good evening all. Looking back at Bitcoin again today, as obviously we had a very big impulsive candle to the downside. Media outlets calling it a ‘crash’ and half of the internet. But lets take a broader perspective, we want to know what’s going on mid to long term to make good profits. Obviously the second stacked position would of got stopped out at entry if you made it risk free. If you didn’t it would be slightly in profit. But this is also a good indication as to why we take profits and also secure profits along the way by moving stop loss up just incase we do get a crash.

Is that just the second major higher low in the bull run? price seems to of hit demand and respected it. Certainly looks to of found support. Only time will tell, still in good profits so keep holding for now. GLIYF

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For sure i think that BTC is the flagship crypto and for sure there are many options that are probably better. I just think that in time many will have it in a savings portfolio. However one large deficit is the fact its digital. I know many say that is it’s strength but as you say if a catastrophe happened you cant get your hands on it like say fiat or gold even that you could trade or barter with. No good going to the shop and saying oh ive thousands of bitcoin but ive no internet to access it. Theyll want something physical

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Just a blip, back up soon hopefully

In my opinion stability will come in time. It’s not there yet but I believe the days of the truly Wild West are behind us.

Saylor bought another 5050 BBTC yesterday allegedly. He’s certainly bullish!

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Who is that?