Bitcoin Daily Update (day 327)

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Consensio: Price being squeezed in between M EMA and L EMA. If breakthough the 50 EMA then a golden cross will follow / be a very attractive entry

Patterns: Phase 7 hyperwave | Starting to look like A&E especially on 3d and W | 4h bull flag
Horizontals: R: $3,650 | S: $3,569
Trendline: Keeping my eye on this bull TL
Parabolic SAR: $3,375 (right in line with the TL above)
Futures Curve: Backwardation with 0.78% spread
BTCUSDSHORTS: Watching for double bottom or new local low
Funding Rates: Longs pay shorts 0.01%
TD’ Sequential: R3 = R2
Ichimoku Cloud: Think cloud above 50 EMA represents little resistance if we can break that area.
Relative Strength Index: > 50
Average Directional Index: Pulling back from 25. Watching for support > 20
Price Action: 24h: 0.9% | 2w: +4.3% | 1m: -1.1%
Bollinger Bands: Flatten out / squeezing with P > MA
Stochastic Oscillator: Daily sell, weekly buy

Summary: What a day it has been for me! Around 2:00 this afternoon Leah Wald contacted me to ask if I wanted to be on the Hyperwave Podcast at 4:00 and asked me to prepare roughly half a dozen hyperwaves to discuss.

I was tremendously excited immediately accepted. Then I got quite anxious because this was the first time I have done something like that and I had very little time to prepare! When feeling that way I focus on getting into the moment, so I quickly decided to do some meditating, hit up the gym / steam room and eat some lunch before putting together a few charts to discuss.

I pride myself in thorough preparation and having less than 1 hour to put charts together made me feel very uncomfortable. However I think I pulled it off pretty well! Don’t think I can share a link so if you are interested go to the Hyperwave channel on Youtube and check out the episode titled: Sawcruhteez and Several Hyperwaves

Head is still spinning from that experience. As far as I can tell I am only the fourth guest they have had on the show. Following the likes of Tone Vays, Saifedean Ammous and Ugly Old Goat made me feel extremely honored! If you enjoy the show then be sure to let them know and they might have me on again!

Back to the charts…

Things have been starting to look more and more bullish over the last 24 hours. The chart posted today is the 4h and that is very interesting to me. Price is consolidating into a bull flag, above the 200 EMA while it postures for a golden cross with the 50 EMA. If that happens it will be the first such Golden Cross since September of 2018. That is the type of indicator that tells me we should be in for a large rally (dead cat).

ETH:USD is in a very similar posture but has already gotten the golden cross. This is coming after it appears to have broken through a 7 month bear channel / trend.


I added to my ETH long as soon as that golden cross happened and I am expecting it to lead the market into the next big move. XRP is also ripe to pop and either of those large cap coins could absolutely lead a charge that brings BTC back to the $5,200 - $5,800 area. On the other hand if we do not get a strong bounce from here then look out below!