Bitcoin's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
Bitcoin Daily ($GBTC)
If you like volatile markets, Bitcoin is your asset of choice. Reviews are not sales pitches to bulls or bears, so open your Matrix and follow along.
The Reversal Tab (Rev) defines the supply/demand zones that provide resistance and support. The Weekly Reversals provide the optimal balance between too much and little information. Short term traders should definitely focus on the daily reversals. If you're looking for bigger return, we must let the power of the primary trend drive performance. As long as the primary trend is UP, AND neither price nor time cycles are extended, the path of least resistance is up.
(1) Today's big decline fell and found support right where it's suppose too. Please look at the weekly reversals, and you'll see where the supply demand zone lines in GBTC. If this zone fails, the next lower level (39-42.85) will start pulling hard. It takes a lot of energy to break a reversal zone. This leads to the next observation.
(2) "It takes a lot of energy to break a reversal zone" Let's go a step further, what did energy do last week? Did DI rise or fall? If it fell, then the invisible hand distributed ahead of today's selloff. If it rose, then the majority is too busy chasing their tails to notice that the invisible hand is accumulating. Accumulation into today's selloff will be even more bullish.
I will update the Bitcoin Report $150 if anything significant takes place within my personal Matrix. My Matrix is far more complex and studies advance relationships that often lead to change. They're not included in the subscription Matrix, because of the level of skill required to interpret. Buying a Report accesses this information in addition to the subscription Matrix. Reports are retired when the asset completes its life cycle in the Evolution of the Trade, or nobody cares the report exists. If you're a serious trader or investor, Reports are an important source of information to counterbalance the Internet BS.
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