{"id":368392,"date":"2019-01-16T17:00:31","date_gmt":"2019-01-16T17:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=368392"},"modified":"2024-06-11T18:54:17","modified_gmt":"2024-06-11T18:54:17","slug":"bitcoin-price-analysis-btc-unchanged-as-volatility-taper","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-analysis-btc-unchanged-as-volatility-taper\/","title":{"rendered":"Bitcoin Price Analysis: BTC Unchanged as Volatility Taper"},"content":{"rendered":"
Candlestick arrangement favors bulls. However, as the government opens up, we recommend patience until after Bitcoin prices rally above $4,500 in line with our last BTC\/USD trade plan.<\/em><\/p>\n The thing is, governments irrespective of jurisdiction won\u2019t budge and will see towards enforcement of their initiatives. Under the guise of investor protection–whereas the so-called investors are on average tech savvy with full control of their funds, the government will always advance their causes regardless of resistance.<\/p>\n The market is steadying, and accompanying volatility means levies imposed on businesses or individuals would further cause imbalance. On average, BTC prices move sway roughly eight percent, which is huge more so when compared to fluid and highly liquid markets as Forex. However, what\u2019s of concern is the drop from $6,000 to $3,500 in a record two months.<\/p>\n That\u2019s a 55 percent drop which makes it unrealistic for crypto traders and investors in Bulgaria via National Revenue Agency (NRA) to pay for a 10 percent tax<\/a> on their profits. The best approach is iron out difference ensuring that policies adopted satisfy governments as well as industry\u2019s stakeholders.<\/p>\n <\/p>\n BTC is virtually unmoved in the last day. Everything else constant, this is bullish, and we expect Bitcoin bulls to find support in days ahead. Note that while bears may be on top from a top-down approach, candlestick formation points to bulls in the short to medium-term.<\/p>\n It\u2019s easy to see why. When we paste a simple Fibonacci retracement tool from Dec 2018 high low, bulls appear to find support from the 50 to 61.8 percent Fibonacci retracement level. Besides, the double bar bull reversal pattern of Jan 14 anchors bulls, confining price action of the last few days.<\/p>\nBitcoin Price Analysis<\/h2>\n
Fundamentals<\/h4>\n
Candlestick Arrangements<\/h4>\n