• Cryptocurrencies: 3988
  • Markets: 22843
  • Market Cap: $260548366695.71
  • 24h Vol: $51264490610.562

Long-term Investors – Wait for BTC to Re-Set

  • CoT illustrates that there are more longs coming to the markets than shorts – Longs took place from $6057
  • Market is still undecided on where BTC and ETH is going
  • Lowest Volume of All-time currently
  • Lack of Retail Investor Interest

The CoT or Commitment of Traders provides us key information of where Bitcoin will proceed over the next 2 Weeks. Currently $6400 acts as a resistance. BTC needs to go to $6127.80 to re-set before increasing.

Long-Term Investors need to be aware of where BTC will be going in order to enter the best position they can in an ALT-COIN. This Daily Segment will explain where BTC plans to go based on this.

Ultimately, Nouvive is telling Long-Term Investors to not fall for Andy’s Fallacy. This is the fallacy of entering into FOMO or Fear of Missing out into a coin and making 15% losses – waiting for the coin to bounce to break-even levels.

What does the Commitment of Traders Suggest? 

  • Higher Long or Buy interest than Shorts
  • Longs have increase by an average of 23% Week on Week.
  • Many institutional investors are de-leveraging their positions – explains current weak volumes.
  • $6058 will act as support based on Institutional investors entering longs there.

What does the Technical Analysis say?

  • The On-Balance Volume illustrates that since August there is heavy accumulation even from the $6058 level all the way to $6500.
  • OBV also explains that BTC will be going down one more leg
  • Lack of Volume in the market, well below the 90D Average (Looks at the previous 90Days to explain whether this volume is the norm)
  • Lack of volume can be indicative that a big move will happen
  • Based on the MA15 (Moving Average 15) it is highly indicative that a move down will occur as the MA15 is currently acting s a resistance.
  • On the HTF (Higher Time Frame) of 1Day, there are constant higher lows and lower lows.
  • More sell side volume than buy side.
  • RSI Stochastic has crossover, showing a double top, the historical bottom for this will be at just above $6000.

Nouvive recommends a Long-term Investor who wishes to enter into a coin to look at said coin, Minus 30% from its current value and enter a purchase level there. 

Nouvive recommends for those that do not want to do the above, to alternatively manually enter a position once BTC hits $6053.

Bearing in mind that the Altcoin market has been up since August 15th, however all Altcoins are positively corrolated to BTC by an average of 0.88 – meaning BTC going down indicates Alts go down by an average of 25% – Figures taken from Nouvive Research.

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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