ridethepig | BTC Market Commentary 2019.12.18
Mis à jour
Encouraging to see life breathing back into Crypto markets with the NY open, a pick-up in corp interest as we reach the bottom of the demand zone. In house client activity picked up and notably $ outflows are impressive sizes with entrenched conviction in $ softness for the months to come.
There is a serious build up of FOMO in BTC that we will see act as a catalyst for these moves and give us the extension in the short-term, as USD devaluation moderates after 1H20 the halving will dictate position-squaring and a change in the BTC landscape. For those in BTCUSD a breach of 6380 support would invalidate the entire bullish bias that has been constructed for the best part of three months and would bring in a test of 2300. Chatter of large buys continue to circulate and ultimately I expect dips in BTCUSD and BTCEUR to be bought into on grounds of position adjustment/engagement.
To the topside breaching the resistance on good volume and catalysing momentum on the long term chart means we can comfortably lean on the buy side as long as 6380 holds:
Overall, I see the case for meaningful BTC strength in 2020, but especially if considered versus USD, rather than EUR or GBP - maintaining longs will require patience and tolerance. Difficult to trade, for sure, but I still feel the bigger BTC risk lies to the topside.
Good luck all those buying dips in BTC.
There is a serious build up of FOMO in BTC that we will see act as a catalyst for these moves and give us the extension in the short-term, as USD devaluation moderates after 1H20 the halving will dictate position-squaring and a change in the BTC landscape. For those in BTCUSD a breach of 6380 support would invalidate the entire bullish bias that has been constructed for the best part of three months and would bring in a test of 2300. Chatter of large buys continue to circulate and ultimately I expect dips in BTCUSD and BTCEUR to be bought into on grounds of position adjustment/engagement.
To the topside breaching the resistance on good volume and catalysing momentum on the long term chart means we can comfortably lean on the buy side as long as 6380 holds:
Overall, I see the case for meaningful BTC strength in 2020, but especially if considered versus USD, rather than EUR or GBP - maintaining longs will require patience and tolerance. Difficult to trade, for sure, but I still feel the bigger BTC risk lies to the topside.
Good luck all those buying dips in BTC.
Note
Move looks impulsive.. Note
A quick update here with volatility expanding.. 
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.