thanks for this, havent touched GBP pairs in so long but this has me tempted
I’m waiting for election results for a big buy on GDP.
Could be the wise move
Nice bit of profit there for those that were on this
Let`s see the actual situation with this crazy BTC lately.
1st chart:
First of all this week im changing the chart from 1D to 1W. The market is so crazy lately so there
s no sense for me to analyze it in short or even mid-term. After all except trader im also a HODL-er so i
m trying to look longer in time. The only thing which I want to mention from 1D chart are the higher lows which were seeing lately. That
s good! Back in the 1W chart were seeing 2 consecutive green weeks already. That
s something which weve saw only once till the 14K top. Of course will be better to see a third one next week to be more sure into bull
s strength. Lets talk also about the nearest support and resistance levels. The support is at $7200. That
s confirmed by 61.8 Fibo level and by the historical PA. The first resistance is at $7800 by the historical PA and after that level the next resistance will be at $8500 (50 Fibo level). What about the Moving averages? Ill not talk about 50 and 200 SMA
s but for 144 EMA. This 144 EMA is a very good technical indicator. As we see from the chart the price almost perfectly bounce from it which is a very good sign.
What to do and how to trade BTC? Well, as I said already im a BTC trader but mostly HODL-er. About trading i
ll not do anything until the price quit from the $7200-7800 range. About hodling… continue to hodl and even compound it. Why to do this? Cuz that`s the future plus see the next charts below.
2nd chart:
Thanks to Glassnode again, we can see the bitcoin addresses with balance. How much are they? ATH at 28.39M addresses now, surpassing the previous ATH of 28.38M at 1/10/18. COMPOUNDING! If BTC will gonna crash do you think such money will be invested in it?
3rd chart:
Thanks to Willy Woo we can see the On-chain momentum chart. It tracks investor momentum and it`s crossing into bullish. Prep for halvening front running here on in. Like Willy says: “The bottom is mostly likely in, anything lower will be just a wick in the macro view.”
Thats all for this week and in advance for the next analysis i
ll tell that i`ve already prepared for you something very interesting.
Maybe a Conservative majority is already priced in - Boris Johnson has been way ahead in the polls since his appointment and especially since the Brexit deal and since he announced the date for the election. A Conservative majority has been widely reported in most polls.
The media of course like to portray the election as a neck and neck race because their job is to attract, not inform.
If the expected result comes in, look for GBP to rise but perhaps only modestly, or maybe sell off a little. The biggest price move would be if Labour won a majority: and that move would be down - through the bottom of everyone’s chart.
Following
The polls have been way out in the past so I’m not counting on a big majority. Worst case is a slight majority either way or a hung parliament. Then we’re right back where we started…
Just waiting to exit by tomorrow, cant go wrong with your analysis nice job man
Purly on the Technicals it’s a drop down no quiver Sell . Waiting on the usual Xmas bill run !
aud making strong moves across the board. how do you think these wildfires will have any impact on the aud currency?
Currently have a buy position on eurusd looking to take a small profit from it soon.
where’s your TP?
This time it was a bit later but that`s not a problem at all.
in a sell myself tbh. great anlsysis here, thanks
This is still the best pair
Agreed probably one of the better pairs to learn to trade with.
Do we think we will see a break down at all on this pair?
Only way is down…