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 thats the future plus see the next charts below.
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?
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.”
a all for this week and in advance for the next analysis ill tell that i`ve already prepared for you something very interesting.