Gajoo

Gajoo

A friendly reminder that there is usually a big selloff starting in the first week of January from 5th-9th, so I'd be careful during this week in particular. February meanwhile is usually a good month. March however is historically one of Bitcoin's worst performing months(along with august & september). Overall despite the recent drop I'm still bullish and...

Gajoo

January has historically been one of the worst months for Bitcoin, thus extreme caution should be taken on the long side as I have mentioned earlier. Here we can see the early January profit taking and selloffs since 2016. Since Bitcoin just crashed around -20% in 2 days, this year might not be any different. The US Dollar has also been gaining upwards...

Gajoo Updated 

Back in early December I mentioned these Fibonacci targets for January. We had an accumulation phase for a week before the run-up on the 25th. I have since then gone long on the breakouts of 20k and 25k. Breakout trades where you go in when price closes above resistance is a very solid strategy with low risk. It is a type of trade I am very comfortable taking. I...

Gajoo

The last few days have been very low volume - especially if you look at Volume Profile, you can see that at around 19400 the volume is tiny. The current feeling is that there is not enough bravery to take us above 20k and beyond without a big catalyst or a big green candle. I have drawn this scenario where we correct to somewhere around 16,000 and then resume...

Gajoo

November is historically the best performing month for Bitcoin. We’re 8 days in and already over 8% in the green. After closing above $13,000 for the first time since 2017, we’ve been in a very strong uptrend. Bitcoin market cap dominance over altcoins has risen from 59% to 64%+ since September, indicating bullish sentiment as people are converting their altcoins...

Gajoo Updated 

Assuming we are at the end of a wave 3, here's an idea of a scenario where we retrace now, and reach a modest 25-30k at the end of the year. Alternatively, it would not be super surprising if Bitcoin instead rallied directly to 17-20k. From 20k, a .618 retrace would land us at 9.7k. My current feeling is that this rally is a strong but short-lived one, due to...