These charts show Bitcoin is turning bullish! Time to buy again!
Hello fellow Steemians and Crypto Investors,
As promised I have continued to closely follow the relationship between Bitcoin’s Price and the Number of Active Addresses. It continues to be a positive sign with Price showing up consistently below the corresponding number of Active Addresses at Bitinfocharts.com.
This is a strongly correlated relationship that has always been a good indicator of future Bitcoin price moves. Check out the chart and historic data
Bitcoin is back in bullish mode, time to buy!
Another very useful long term tool, Alfaquotes.com is also showing Bitcoin’s bullishness right now.
Alfaquotes' Fair Price is finally higher than current price
Check out my previous post on the initial signs of this bullish turn for Bitcoin
CONFIRMED - Bitcoin is going back up! This strong correlation never fails!
CHECK OUT MY PREVIOUS POSTS:
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Why China (or governments) can’t stop crypto
Tell me what you think of this post in the comments below. This is not professional investment advise. I'm not your financial advisor. Only invest money you can afford to lose!
Follow me for updates news and commentary on "sane" crypto investing.
Happy crypto investing!
It won't be long before were testing the previous ATH and the bears will be liquidated lol
You should have bought a few days ago and even yesterday :P but yes Bitcoin and all cryptos should be going bullish here very soon. Its a trend that happens every year/
Like clockwork. 😀
And thanks for emojipedia...
It's beginning to look a lot like Cryptmass! haha, couldn't resist it. regards Taskmaster
Damn man, a programmer with a personality. I like it....
Write code creating apps by day and work the comedy club by night.
By the way, how are the twins doing? How old are they?
I know, comedy is not my forte... I do try every now and then though :) The twins are doing great! Growing up really fast, they are 2 years old and 4 months. They are beginning to speak in sentences now, pretty soon they will be talking Crypto and blogging in Steemit like their dad haha ;)
By the way, I opened the crypto millionaire app, turned my phone upside down and swiped the screen thinking that might make my account go up...it didnt.
Maybe it is my phone...its three years old....is the upswipe feature only available on the newer phones. I must have the scaled down version.....😀
😀 😀😀 😀
😀😀😀😀😀
Try again and again, by 2020 you'll achieve the desired results or break the phone screen, whichever comes first ;)
Figure out a way to teach them blockchain code so that they can design their own blockchain by the time they are 5.
Perhaps Zuckerberg can be their first customer in another couple years.
I could be wrong here, it's still early and there could be black swans but all signs look very promising. The Active Addresses correlation with Price is super strong and has very rarely failed in the past. Regards!
It's bullish @cryptoeagle but they should have bought last week to a few days ago to seal their base. I was hoping that there will be a revearsal when it bounced back from its dip when it touched 6K so I bought the next day. They can start buying by trenches and try to seal their base right now. The price range of bitcoin is 8K - 9K. It is still safe to buy at this range. Hoping that it will retest the 9K resistance very soon. This is my own technical analysis and I could also be wrong. The market will still decide :)
Thanks for sharing your TA @cryptoeagle
Thanks for commenting @Garokee. Yes, this is turning bullish, unless there's an unforeseen black swan, we are likely to go up from this bottom. Best regards!
I think I've seen one ... according to Stoch RSI indicator it tells that BTC is overbought. It is above the 80 Level. As I know that when it is overbought in Stoch RSI, it will have a pullback. Since it is in an Uptrend and bullish right now, maybe it will only have a slight pullback (I hope so). But still I'm optimistic that it will retest that 9K resistance :)
TA is mostly Fugazi my friend. I'm a follower of efficient markets theory. I only look at TA on long term timeframes for confirmation but I don't trust it short term to be honest. Regards
Yep .. I agree with you. Right now that BTC is on consolidation period, it is prepping for another bull run.
Actually I am happy that we had this discussion. Sharing our thoughts and opinions with each other. Thanks for this @cryptoeagle
One of the best descriptions of Efficient Markets Theory ever! hehe regards @garokee
It's time to buy bitcoin and a lot of coins based in great projects as cardano,modum,subs etc..
I was kinda hoping for one more dip....but NAH, lets get this rocket flying again!
I don't mind another moonshot from here ;) hehe regards!
i think this is the right time to buy bitcoin & cryptocurrency... cz after some days all cryptos could be down in market.
I am not following in these charts. I see the spike a couple times over the price in USD but fail to see how it is bullish.
It looks like that, during the downtrend, the number of active addresses waffled back and forth.
I look for consistency, several times in a row over the price usually mean price will follow afterwards. This is not an exact science, it could sputter out but it looks promising so far.
That is okay my friend...I still have some skin in the game.
But according to my trusty cryptomillionaire app, I am only $140K away from the 1/1M...
That is okay, I am looking a lot better on STEEM.
Either way, I am ready for a bullish run...the FUD is getting tiring...although I find it rather amusing since I am not selling regardless....
thanks for the post.
i believe for btc to take it's next bull run some good news have to come from EU, we have had really great news from the USA.
EU on the other hand is kinda a wild card right now sadly.
I could be wrong, it's still early and there could be black swans but all signs look very promising. The Active Addresses correlation with Price is super strong and has very rarely failed in the past. Regards!
The up trends we see from 2 days is indicated a great rise.
best time to buy.
Thankyou for this very informant post. I'm following you from long time and you seem like one of the best people to follow!
Upvoted, resteemed and following!
thanks sir for your information about cryptonurrency I appreciate that.
Resteem Done