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Author Topic: Is Bitcoin Looking Bullish now?  (Read 810 times)
LogitechMouse
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August 07, 2020, 11:49:05 AM
 #81

Arguably, Bitcoin is looking bullish so long as dollar isnt looking healthy.   Great many doubts are being expressed for dollar prospects at the moment, I do still expect it to swing round in some retraction which often favours dollar in exchange for the sale of many other assets and markets.    That stronger dollar leads to retraction of BTC but for now, we have an easy outlook for bullish BTC

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The economy of the United States is not really recovering on schedule and it is easy to see why, while in many other countries the pandemic has slow it down significantly this is not the case in the United States and this is making a lot of governors really worried about the situation and when you add the riots and a presidential election coming this November it is natural that investors are really worried about the short term performance of the dollar and the economy of the United States.
With what is happening right now in the country and include those people who doesn't want to follow the protocols that have been imposed to prevent further spreading of virus, this can affect the economy of the country and their currency too since investors will choose to avoid.

The recovery of the country will take long time so short term, for sure investors will either risk their money and still invest on them or find another investment like Bitcoin or Gold Cheesy. There is a possibility too that investors are hedging because they know already that the economy of US is going down that is why they are pulling their money out and investing it in Bitcoin that is why Bitcoin is going bullish right now.

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August 07, 2020, 06:51:08 PM
 #82

Sometimes it is uncertain to talk about the fundamental Covid-19, there is speculation about its possible vaccine to eradicate it made in the USA, where it gains a lot of confidence in all kinds, both in markets and in generating more reliability for investors.

When you find some good bullish Bitcoin movements, many emotions are reflected in the market, every time this happens, comes from a news or achievement, if it is for Bitcoin I think it is something very positive, the current movements have been seen with good volume, more purchases, more positions in LONG taken by investors and speculators in the market.
Unfortunately whatever you are getting feed from the news usually comes off as either based on facts or not, and if there is a way to make it look better they will do that on the real facts as well. The number of people dead from covid-19 is obviously there, you can claim that there has been a lot of tests made, you can make 1 billion tests per day on multiple times per person every single day, that doesn't change the fact that there are more dead people in USA every single day.

That is literally the only metric that matters, people dying, and that is why USA is doing horribly, you think this many people died in other nations? Hell no, even China which has over a billion people and where this started didn't had this much people dying and that is a nation that kills their workers to death for productivity, think about that. After this covid thing and how they reacted, I could honestly put USA as a third world underdeveloped country that needs help like Venezuela or Zimbabwe, they do not look any different to me.

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August 08, 2020, 03:20:48 AM
Last edit: June 12, 2023, 02:46:41 AM by STT
 #83

China stats cant be relied on, they just wont tell you how many died so you must guess, just like 31 died from Chernobyl a small mishap.  Been that way previous, its that way with every stat they produce.   Nobody has a real idea how much gold they are accumulating because they dont want to be front run in their accumulation, same for anything they dont want you to freely draw a conclusion on their data so its adjusted.




BTC has to be taken as bullish right now as it maintains above weekly averages.   It has a slight decline possibility but could just be taken as a consolidation after the previous gains, consolidation can be bullish in terms of settling and breaking the upper band or ceiling to price just like we did previously with 10500 marker.   While 10500 remains the base price its fair to say we're bullish and ironing out the price.

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August 09, 2020, 01:26:31 AM
 #84



$BTC Local Update

I pointed out on the Ascending Channel and now just took a fresher view on BTC. Bitcoin has clearly established an Ascending Triangle and heading to retest the 12k$ Resistance Zone. Confirmed breakout of the Resistance Zone is the bullish case.

Pattern is valid while Support Trendline holds.

Btw this bullish pattern correlates with the Weekly Double Bottom I showed earlier, breakout of the Resistance Zone will also serve a confirmation for the Double Bottom, things are getting interesting.
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