The strong rise of Bitcoin to start 2020 has caught many traders on its back foot. Case: Each leg higher than the BTC price was marked by dozens of millions of dollars of short liquidation on margin trading platforms like BitMEX.
Although it seems like the majority are caught off guard, a trader called Bitcoin's emerging uptrend: Financial Survival, also known as Sawcruhteez.
Just a day after the New Year, the famous trader claimed that Bitcoin started showing signs that a textbook had created the Wyckoff Spring pattern. The pattern proposed by Sawcruhteez hinted that BTC would hit $ 9,200 in mid-January.
– Financial Survival (@Sawcruhteez) January 2, 2020
And it was so. Between 17-18 January, the leading cryptocurrency overcame key $ 9,000 of psychological and technical resistance.
Now, Sawcruhteez is making a potential retreat alert that needs strong attention, considering his past.
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Bitcoin Can Be Withdrawn Soon Analysts Propose
Sawcruhteez today attracted attention For Thursday trading session, green 9s are printed according to Tom Demark Sequential, a time-based indicator that gives all day, two day and five day candles, 13 and 13 candles in 9s.
The combination of the green 9's in three key time periods written by Sawcruhteez may be a primer for a "correction" because it suggests that the short-term bullish trend is completely exhausted.
– Financial Survival (@Sawcruhteez) February 13, 2020
It is not just TD Sequential printing's merging in the time frames that concern analysts.
Thomas Thorntown, from Hedge Fund Telemetry, stated that according to the Demark Sequential Countdown, which Bitcoin recently dropped to $ 6,400, the investor should be cautious.
This is remarkable: The indicator pressed 13 candles when Bitcoin reached $ 20,000 in December 2017, BTC's $ 3,150 in December 14, 2018, and $ 14,000 in June 2019.
Also, highly profitable crypto whale J0e007 Having earned $ 14.4 million in December and profiting just about $ 7 million last month (Joe), he recently warned that Bitcoin might soon be for a major collapse, such as "the entire crypto space will completely disappear". just a little retreat as some expect.
Healthy recovery? Without fiat in the system? How about crashing to essentially delete the entire crypto space?
– Joe007 (I define Omura's seppuku whale) (@ J0E007) February 10, 2020
This strong assertion does not convince that Tether's flat market value size is “difficult to explain from a position where we are in the middle of a new bull market” and Grayscale's input data is not enough demand to absorb mined supply.
What should the bulls say?
Despite all this, many bulls are determined that Bitcoin has remained in an uptrend that will not see significant decline, at least for now.
Sawcruhteez recently “exactly” the three-day Ichimoku Cloud for Bitcoin bull, ”Prices break the cloud resistance and the future cloud turns positively. The indicator gave a buy signal of $ 10,268, indicating that more reversals are possible.
– Financial Survival (@Sawcruhteez) February 12, 2020
And trader Dave said that the price of BTC will be pulled in the middle of $ 6,000 in mid-2019, while the asset is $ 11,000 to $ 11,500 before any significant retreat. He predicted that he would reach.
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