LukeSouthwell

LukeSouthwell

I was hoping for a doji on the daily and that is exactly what we got. During the last candle we tested 10k support (which is now very weak after 4 bounces) and also tested the 100 day ma resistance (which was strong enough to give us a close below). From now I expect the selling to increase over the next few hours and possibly a daily close below 10k. There is...

LukeSouthwell

The last bullish support level is almost upon us. Reversing in the blue box I believe is the last opportunity BTC has to prevent a bear market. If we drop below that blue line I don't see the price recovering to previous highs for a long time. The 200 day may act as support but it will start to curl under and we then enter a bearish cycle with lower highs and...

LukeSouthwell Updated 

Chart speaks for itself. BTC getting pressure from both sides and we are getting to the area where some critical crossovers are coming into play. So much going on, kinda walking the random walk and bouncing off whatever indicator it meets at any given time.

LukeSouthwell

So the bearish outlook on the daily is this. Yesterday BTC just held onto the 50 day MA but got stopped right before my long entry at 14900. Today it will close below, it’s just a matter of how far below. Currently 13k is once again acting as weak support. Just think logically, how many people will actually buy at 13k. 14, 12 and 10 are much more likely. I...

LukeSouthwell

Hungry OMG Caterpillar has found some food... Obligatory moon in background