My2CentsOnBTC

My2CentsOnBTC

For risk management, I like to take a step back to view the big picture. That means zoom the :heart: out, see the asset's multi year performance. Atm, ETH is in a bull channel at least since 07-2020, chasing ATHs. - currently we're at 4.735, which is a minor drop from last ATH - bottom of current bull channel 2.990, a drop to this point would still not...

My2CentsOnBTC Updated 

Shib is forming a second bullish pennant at the 4hr chart. Volume development fits the textbook. SHIB had the second largest social volume after Bitcoin last days. Pole length of current flag is approx. 0.00005900 / 210% from latest breakout. Hence, first TP would sit at 0.0001240, second TP at 0.0001600. Variant: SHIB consolidates a little longer and fills the...

My2CentsOnBTC

The mother crypto posted a convincing bullish breakout to the upside of a mid term triangle formation during the last weeks and set a new ATH. Now it's time for a retrace and retest of former fib levels for consolidation, and to build solid supports for the next swing up to the 80s. Why? - BTCUSD reached the upper limit of the mid term regression channel and fib...

My2CentsOnBTC

Since end 10-2021 btcusd had a straight surge by almost 50% within a bullish mid term trend channel. Retracements were only minor, if any. But trading volume got lower on the way, bulls lost some power. For a healthy further upside, price should retest the last important levels to confirm the upside trend. It already went as low as 54.5k. BTC already tested the...

My2CentsOnBTC

BTC and ETH trading bearish at the lower edge of a falling mid-term channel (which I have called in my ideas since Sep-03), after decisive bearish moves on reasonable volume . We are continuing Since Sep-22 for at least yet another swing up/down. Trading setup*: - in a falling mid term channel since Sep-07 from 52.9k - two decisive moves to the downside...

My2CentsOnBTC Updated 

Note: I needed to publish this with 15m timeframe. But for best results (more exact values) I always draw the lines with 1m timeframe, and scale up to 15m for evaluation. The Theoretical Base: Mathematics. The basis of my approach is the infinitesimal calculus - remember math in school? The first derivative (D1) of a function is the rise of its curve (here: how...

My2CentsOnBTC Updated 

BTC and ETH trade at the lower edge of a falling mid-term channel (which I have called in my ideas since Sep-03), after decisive bearish moves on reasonable volume. I think we will continue for at least yet another swing up/down. I will trade this (on ETH for higher volatility) between the two fib lines of the last large uptrend, where I will look for exit /...

My2CentsOnBTC Updated 

Since Monday, Bitty rises freshly in a narrow channel. Price has now recovered 50% of the losses from Sep-07 plunge and is currently consolidating around the 48k. Now it forms a rising pennant on the chart - a bullish figure if the price leaves it with a lot of volume to the upside. Does this confirm a midterm bullish trend ? Does the 48k area form the...

My2CentsOnBTC Updated 

The recent BTCUSD movements have proven my perspective from Sep-03 right. We're heading down and a new trend channel to lower regions is about to open. Price retraced from the top of the last mid term rising trend, down to the 0.382 fib level. It retested the 0.236 fib level in a fresh swing to the upside. Now it looks as if it would get rejected there. This...

My2CentsOnBTC Updated 

Have you already shorted ALGOUSD today ? If not, take a nice cup of coffee, get up (or the other way around), wipe your eyes and set a short on it. Why? Time has come. That's why. We're at the end of a massive pump . ALGOUSD RSI (1d) has been as high as today only 4 times in its lifetime, and 3 out of 4 were excellent shorting opportunities , and the 4rd with...

My2CentsOnBTC Updated 

Don't ask me why, but tomorrow between 04:00 and 10:00 UTC it's going to go down further. This is not an analysis which you should build an investment upon. We're on the way down for a little while. Call it a correction or a beraish phase. RSI (1h) is going back to the middle of the band, and it's going further down when it reaches values between 50 and 60, I...

My2CentsOnBTC Updated 

Guys, have you seen this live? :-) In my last chart idea I already looked sceptically at the volumes of the last "range breakout" - they were only a third of the least of range breakouts in the last year. That didn't look like the way to the new top to me. Today, Tue 2021-09-07, a heavy pullback hit BTCUSD and virtually all major cryptocurrencies. It started...

My2CentsOnBTC Updated 

COINBASE:BTCUSD has been ranging the last two weeks. Now it's moving beyond 50k, long awaited by many. But it might still leave the range to the wrong side at the end of the day (week, maybe). Why? Never (at least in the last year) Bitty left a range like this with less than 10k daily volume (measured at KRAKEN:XBTUSD). At the time of writing we're gone past...

My2CentsOnBTC Updated 

The Volume battle is through 3 times, fib tested 3 times, short term uptrend line broken, RSI 1h has been in the 60ies. The way is free for the next wick down now . _____ Of course, this is not a trading advice, just my private analysis as well as a text for entertainment purposes. Never put your love and your money in the same place. You could end up with...

My2CentsOnBTC

I stay with my view on the mid term development of BTCUSD price move. Missing upwards pressure and a breakout that failed due to low volume one week before were followed by a massive downside correction. This move set BTC back into an new falling channel which will lead prices down to the base path of the long term fib channel which has been valid since at least...

My2CentsOnBTC

For me, a likely scenario could be BTC dropping until Q2-2022, then long-term building up for next ATH. Why? Using long term fib channels we see that sell territory has always begun above the 0.5 line. When this had been reached, a correction to the channel below 0.236 followed suit - time for buyers. After BTCUSD has been in the channel above 0.618 it didn't...