Market Is Playing Wicked Games! TA Market Analysis!

Ohh market...

What sort of wicked game are you playing with my heart! Up and down, up and down! If you pump you give me a heart-attack of excitement and FOMO, if you dump you give me a heart attack of depression and FOMO... when is this going to stop!? Probably never... Because these are the games the market likes to play with us!

"The market can remain irrational longer than you can remain solvent!"

One of the best quotes I've seen coming from traders, and it's true! Your analysis can be spot on, you can be betting on the most probable scenario, but the market can screw you and go in the opposite direction! It can keep screwing you until your whole account goes to 0! That's the game we traders are playing! A game of probabilities that can screw us multiple times! That's why risk/reward is always a must, and even with risk/reward, if you are not humble and keep your emotions out of the market I'll tell you from experience that the market will "humbleize" you.

But where am I going with this? Well, I haven't done a market analysis in a while, so let's do one!

Bitcoin

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I flipped bullish on Bitcoin back in December when the price was around $7100. The price was at the golden pocket plus the Weekly MACD crossed-over bullish, and that, to me, is a bullish sign, and it still hasn't crossed-over bearish! It's giving some signs of losing steam, but still no bearish cross-over. Without a bearish cross-over, we are in bull territory, even with minor corrections, and that's what we are seeing now.

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Bitcoin peaked at $10,500 and started dumping, we are now at $8850, can the dump be over? Maybe... the daily 200MA supported the price and the daily 100MA is right under. Back in the previous bull market the price started going up, and never got under these two MAs, which makes me think that maybe they might support the price. Would I long right now? No... since this scenario is a big maybe, I would first wait for a Daily MACD bullish cross-over, with this cross-over I would be around 80% sure the price was going up. I would also move the stop loss as soon as the price started going up to a no loss zone.

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The best scenario for a long would be at the golden pocket, the golden pocket is the zone between the fib 0.65% and 0.618%, that's a really good zone for a long. That golden pocket zone is between the prices of $7980 and $7850, that's the BEST zone to look for a long or to buy more Bitcoin for long-term.

If you've been following me for a while you must know about the weekly 200MA. Yhis MA is the last line of defense, this MA is the best opportunity you get in any market to buy and HODL. Stocks, cryptos, it doesn't matter, if the price is right above this line you should be selling your car, your house, your wife to buy more of that asset, it's where everyone buys, bulls, bears, it doesn't matter... Of course, if it breaks, only god knows where the price will dump to.

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This MA supported the price twice in 2015 and already once in 2019, this was the MA that supported our drop from $6000 to $3100, and it's been increasing ever since! Right now the weekly 200MA is at $5480. So, the probability of ever seeing sub $5480 again is very very low, I would put it at under 1%! Any Bitcoin bought now, will probably never be worth less than $5480. Any Bitcoin bought now is very likely to appreciate in price to the millions.

Ethereum

I've been buying up Ethereum and putting it in my Celsius app to earn interest on it. Ethereum is looking really good in one of the most important charts. The ETH/BTC chart!

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The monthly... yeah, that's right THE MONTHLY MACD on the ETH/BTC chart is looking really good, it still hasn't crossed-over bullish, but if everything keeps going as it is, which is very probable with the DeFi space growing and EIP1559 near us, the MACD will probably cross-over bullish somewhere mid-2020. If that happens, Ethereum will go on a bull run for months, and when Ethereum runs, the alts run right after. Mid 2020 is probably going to coincide with the new All-time high on Bitcoin, but I don't want to speculate on that... a trader sees what the charts are telling and not what he wishes the charts were telling.

STEEM

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I'll keep this one short, both STEEMBTC and STEEMUSDT are above the daily 100 and 200MA which is good, the dump looks really bloody and we all know how the saying goes... "Buy when there's blood on the streets", the daily RSI on STEEM/BTC looks good"ish", if the RSI trendline (which some traders don't like to use) holds, we might see the STEEM/BTC continue the rise.

I don't like STEEM to trade, but to buy and hodl for the long-term and to use, it might be a good opportunity right now, a second opportunity before the bull market really picks up the pace.

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Question of the day: What have you been accumulating? Are you bullish for 2020?

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