Margin Analytics 30.09.2020 btc/usdt After returning Bitcoin | Your Crypto Boss

Margin Analytics 30.09.2020
btc/usdt

After returning Bitcoin to the range of $10566 - $10,780, another attempt to pass $10,800 took place, which failed at the time of writing:

https://www.tradingview.com/x/bAS7XQsK/.

Since Bitcoin is on the "crossroad" all this time, it is worth waiting once again for the price to exit the current trade (10566 - 10780$) so that alternative scenarios can be cut off.

In the last 2 months, every trade after growth has ended in a collapse with falling price peaks:

https://www.tradingview.com/x/jQffp9RK/.

On the other hand, after a decline to $9800, the minimums are also tightened:

https://www.tradingview.com/x/tJBsRNUo/.

This is why yesterday's triangle-shaped hypothesis remains valid. And if buyers don't activate soon, the price will soon visit the bottom edge of the triangle and the trend line ($10,350 - $10,420):

https://www.tradingview.com/x/ovmxqGhS/.

If fixed above $11,000, the triangle hypothesis can be discarded.

The correlation with the dollar index has been clearly felt lately. If it is strengthened, a temporary weakening of Bitcoin is possible, as a continuation of the correction:

https://www.tradingview.com/x/CMsLkgry/.

DXY still has the potential to bounce back at 96 and 98, so there is still the risk of a decrease in btc:

https://www.tradingview.com/x/ZpBUg2BD/

On Bitcoin chart, as I wrote earlier, a trigger to continue the decline will be a fixation below $10,200.

What I don't like about BTC weakening hypotheses is that many market participants, after the decline in the main crypto currency and the collapse of the altcoin, sharply 'switched' to shortstop mood, i.e. expect a decline. And as we already know, the market is more likely to go against the majority.

The best solution at the moment is to keep 40-60% of funds in the crypto, and to use free capital only if the bottom is renewed, as the main trend and direction in the medium term is upward.

YOUR CRYPTO BOSS

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