#Bitcoin and indeed the broader crypto market is set for possibly it's most critical trading week ahead of this year, as the price sits at a rebound or collapse zone.
Before I get to a breakdown of indicators, I will simply, say that when things appear to be at their very worst in crypto is usually exactly the time you should consider getting exposure.
Starting with the good news first, and Top Traders with the highest margin balances on (The Yellow Exchange) are still very bullish. Top Traders have been positioned all week for gains, and they are not being deterred by the big drop in price this week.
Now to the less positive part. Vanguard indicator is still very bearish on the all important higher time frames. A front-running Vanguard 2.0 model on Tradingview is also showing we are set for another Red weekly candle. Atlas indicator moving higher again this week is probably the most worrying indicator we have right now. The constant move higher in Atlas has coincided with the price dump in Bitcoin. In short, Atlas is still going the wrong way. What is happening with Atlas is a double-edged sword. Atlas is showing that Bitcoin is deeply oversold right now. However, despite Atlas being very oversold, we still don't know if we are going to see another leg lower in Bitcoin as it continues to run higher.
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IF BTC holds this week
next week could be really awesome 👍
especially if US govt shutdown ends and Trump fulfills his promises of $2000 cheque to US households
in that case BTC will boom 💥 boom 🤯 bastic
#Bitcoin and indeed the broader crypto market is set for possibly it's most critical trading week ahead of this year, as the price sits at a rebound or collapse zone.
Before I get to a breakdown of indicators, I will simply, say that when things appear to be at their very worst in crypto is usually exactly the time you should consider getting exposure.
Starting with the good news first, and Top Traders with the highest margin balances on (The Yellow Exchange) are still very bullish. Top Traders have been positioned all week for gains, and they are not being deterred by the big drop in price this week.
Now to the less positive part. Vanguard indicator is still very bearish on the all important higher time frames. A front-running Vanguard 2.0 model on Tradingview is also showing we are set for another Red weekly candle. Atlas indicator moving higher again this week is probably the most worrying indicator we have right now. The constant move higher in Atlas has coincided with the price dump in Bitcoin. In short, Atlas is still going the wrong way. What is happening with Atlas is a double-edged sword. Atlas is showing that Bitcoin is deeply oversold right now.
However, despite Atlas being very oversold, we still don't know if we are going to see another leg lower in Bitcoin as it continues to run higher.
$BTC
#WeekendMarketAnalysis