guigamuck

guigamuck Updated 

Take a look at this chart. In this chart, we can see a 10-year trendline from 2013 to today. Every time the price is above the line, Bitcoin is in a bull market, and every time it is under we have a bear market. The cyan vertical and horizontal lines mark the cycle tops that usually become support. The red horizontal and vertical lines mark the cycles' low...

guigamuck Updated 

This is my favorite Bitcoin chart of all time. In this chart we can see a 10-year trendline from 2013 ATHs until today. Bitcoin has been above this line for most of the time, except for the period between December 2014 and April 2017 - during that period Bitcoin had phase 1 of a bull market and took nearly 16 months between January 2016 and April 2017 to break...

guigamuck Updated 

As you can see in this image, overnight, Bitcoin broke support of this trendline that has been working as both support and resistance since the FTX event in November 2022. To remain bullish, we need to stay above this trendline. If we get rejected at resistance, we can expect further downward movement with the next level of support around $38,000. If Bitcoin...

guigamuck Updated 

Since October 23rd, Bitcoin is printing an ascending parallel channel and tested both support and resistance many times in this period. Right now, Bitcoin is testing support of a trendline INSIDE the channel, and in the last candles it's forming a downward pattern with lower lows and lower highs. Honestly, I can't say for sure what Bitcoin is going to do, but, I...

guigamuck Updated 

This is a long-term analysis of Bitcoin starting from 2013 ATH. To understand this chart you need to understand the color scheme: cyan vertical and horizontal lines - identify the tops of each cycle red vertical and horizontal lines - identify the bottoms of each cycle white vertical and horizontal lines - identify the halvings As you can clearly see in this...

guigamuck

Since September we've seen a nice upward movement in Bitcoin and cryptocurrencies in general. Today is November 23 2023 and Bitcoin has been in this ascending parallel channel since October 24, when it broke above $33,000. Since then Bitcoin has been testing the channel bottom as support and the top as resistance and we can now see the two blue trendlines and...

guigamuck Updated 

Is Ethereum in a downtrend? I've seen a lot of analysts and influencers saying ETH is in a downtrend and I don't see it this way. If you look at this chart you can see that ETH has been respecting the uptrend that started around June 2022 The candle chart is a bit noisy so let's have a look at the line chart (the line chart ignores the wicks) In the...

guigamuck Updated 

From investopedia.com: A Dragonfly Doji is a type of candlestick pattern that can signal a potential price reversal, either to the downside or upside, depending on past price action. It forms when the asset's high, open, and close prices are the same. The long lower shadow suggests that there was aggressive selling during the period of the candle, but since the...