[Daily Discussion] - Tuesday, May 04, 2021 Bitcoin Markets

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[Daily Discussion] - Tuesday, May 04, 2021 Posted: 03 May 2021 09:00 PM PDT Thread topics include, but are not limited to: General discussion related to the day's events Technical analysis, trading ideas & strategies Quick questions that do not warrant a separate post Thread guidelines: Be excellent to each other. Do not make posts outside of the daily thread for the topics mentioned above. Other ways to interact: Get an invite to live chat on our Slack group submitted by /u/AutoModerator [link] [comments]

BTC/USD - Correction over or more to come? Find out here! �� Posted: 26 Apr 2021 10:57 AM PDT Chart: https://www.tradingview.com/chart/BTCUSD/Te3gzxw2-BTC-USD-Correction-over-or-more-to-come-Find-out-here/ Chart 2: https://twitter.com/DU09BTC/status/1386740774553882629 Bitcoin has painted a MASSIVE bullish candle on daily... over 10% pump in a day... that is over $5k pump! Impressive. We have not had such a candle since February! Is the correction then over? Not so fast. There are two scenarios possible and you can also check my latest video on YouTube that covers the same topic (see my profile) Scenario 1: BTC correction is over and we pump higher to make a new All Time High ( ATH ). For that to happen we need to crush one important resistance at $58k. If we get rejected there and pushed back down, then scenario 2 is activated. Scenario 2: BTC is rejected at $58k and we will do a new low in a nice ABC pattern. This can be anywhere between $45k and $41k. We have strong support at $41k and I would be surprised for us to drop that far since buyers, especially institutional investors, will not hesitate to buy BTC at a +30% discount. Which way we go? If we are to look at the indicators and this massive bull candle, one would lean towards scenario 1. Today was a very strong push. Questions is if we can maintain it. Likely we will find out before the end of the week. Also this pump was predicted by the RSI + MACD bullish divergence on 4h (higher low on RSI while price did a lower low). Therefore this pump or relief was expected, apart from that nasty wick yesterday that trapped many bulls or bears? :P Anyway, the stage is set, now BTC has to play on it. What is your expectation? submitted by /u/DU09 [link] [comments]

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