BTC: Short term risk on long trade - G20 rumors priced in

BITFINEX:BTCUSD   Bitcoin / Dollar
On March 19th and 20th 2018 in Buenos Aires ( two discussions are scheduled wich are likely to effect short and long term prices of Bitcoin and all other crypto currencies:


"The G20 is set to hold two separate discussions on cryptocurrencies next week in an effort to seek what representatives call a "common response" on regulation.
A media representative for next week's summit, to be hosted by Argentina, which currently holds the G20 presidency, said that the first meeting will take place Monday. The talks will feature Argentina Treasury Minister Nicolás Dujovne and Organisation for Economic Co-operation and Development (OECD) Secretary-General José Angel Gurría, among other stakeholders. A second discussion will happen on Tuesday, the rep told CoinDesk."

BTC chart is showing the drop from 11,8k down to latest low @ 7,2k wich BTC has seen in the past 24 hours. This are the reasons: :

"Finance officials from the U.S., Germany, France and Japan have all called for the discussions to take place in the months leading up to the G20 summit.
U.S. Treasury Secretary Steven Mnuchin said his concerns revolve around the use of cryptocurrencies in illegal activities like money laundering, while French and German finance officials co-wrote a letter in February that sounded the alarm on potential risks to investors." Quelle:

Same time sentiment is as worse as last time seen in 2011 (Please click on the chart to load facts & figures):

Technically BTC is showing a short term buysignal now - once more - after rising again above the downtrend line. Since March 6 all similar signals failed. So lets see how it runs this time.
Trade ist aktiv: Remark: Sentiment view - longterm: Please click on the chart to load facts and figures

Trade ist aktiv: BTC @ 8.500. Break above downtrendline needs to be confirmed by more upside momentum. BTC failed several times in similar pattern last weeks.

Trade ist aktiv: BTC @ 8.600 - news: Bitcoin Price Surges 10% as G20 Will Not Crackdown on Cryptocurrencies
Trade ist aktiv: BTC @ 8.430 - Bitcoin Price Rallies Amid Twitter Cryptocurrency Ban Rumors

BTC @ downtrendline -exactely:
Trade ist aktiv: BTC @ 8.420 @ downtrendline: Pullback to 7,6k bis 7.8k could build a solid bottom and cause new longterm upside momentum.
Trade ist aktiv: BTC @ 8.560 - Bitcoin moves above $8,400 after news that 'could have been worse' from G-20 regulators

Bitcoin prices moved higher Monday as global regulators took a tempered approach to cryptocurrency regulation ahead of the G-20 meeting this week.
Financial Stability Board Chairman Mark Carney took a cautious approach in responding to calls from some countries to crack down on digital currencies in a letter Sunday.
"The G-20 news over the weekend helped crypto prices. Or at least, the G-20 news could have been a lot worse," says Bart Stephens, co-founder and managing partner at Blockchain Capital.

Kommentar: BTC @ 8.450: Bitcoin following precisely trendlines. If BTC might drop slowly along the downtrendline this would be positive to form a tripple bottom.

Kommentar: UNCH BTC @ 8.490: Bitcoin following precisely trendlines. If BTC might drop slowly along the downtrendline this would be positive to form a tripple bottom.

Trade ist aktiv: BTC - still alive @ 8,8k

Trade ist aktiv: News: Bitcoin Price Jumps $1K After Carney Tells G20 Crypto Does Not ‘Pose Risk’

Trade ist aktiv: BTC @ 8,9k: Three White Soldiers Pattern - bullish reversal pattern

Trade ist aktiv: BTC @ 9k - News:

Alt-coin bear market is over, but bitcoin is still the best bet: Wall Street's Tom Lee

Bitcoin bull Tom Lee says the alt-coin bear market is over. But he still recommends investing in bitcoin.
"Whether regulations change around security tokens and registration, bitcoin sits in its own sphere," he says.
Lee said he expects the lesser-known, smaller coins will remain in "purgatory" and not begin rallying until at least the middle of August, if not mid-September, due to regulatory uncertainty.
Trade wurde manuell geschlossen: Trade closed @ 8.720: Since Dezember 2017 BTC was unable to close more than 4 consecutive days higher by a larger green candle. Thisfore traders should remain carefull about longer views - unfortunatelly.

re entry long will be @ 9,2k.

Positiv/bullish: 3 white soldiers

Negativ/bearish: (likely) Reversal Pattern short
Non news will produce more bullish activity on 3/20 as well :0
SwissView Panovak2
@Panovak2, from the "long perspektive of view" there is a certain rule:

1. Buy the rumor. 2. Sell the facts.

In downtrend you need to reverse it:

1. Sell the rumor. ". Buy the facts.

Thisfore probably you are right saying: If ever there is no news BTC will show more upside momentum. I agree with this.
+1 Antworten
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