Hello all. Dont hate too much but consider all things as possible. :) Many know and understand the simplicity about the ways I do things and in some cases I know the simple gets complicated. I know this presents something completely irrational to where we are today but as a TA I have to assume the history repeats itself in the market.
I am not going to give a long description for anything because I am not good for them. All I want to say is be mindful of where you are today, Take the profits you can and when you can and run with them. This is a new market and with it a lot of people are being left broke, dont become one of those people. I am not putting this chart to upset the crypto community but to perhaps make you see what could be the real outcome of BTC in the next year. If you ask me I do want a McAfee 1mil btc but given the circumstances I have to dare to doubt we will see it soon.
Little to explain. Our support in the weekly has changed since 11-2017 and it is 4.8k.
Daily support still at 5.8k
Those two things is worth to keep in mind.
Here is what I see possibly happening in the days ahead. this is a weekly expectation.
if any major changes I will come back and update, if not have a nice week. :)
We hit our higher price of 7770ish price and then retraced again. btc is still very weak and I expect another red week.
THIS IS A CROSS ABOUT TO HAPPEN AND A WEEKLY SUPPORT FOR A EXPECTED PRICE TO COME.
THIS IS THE DAILY WHICH IS KINDA INVALIDATED NOW FOR THE WEEKLY EVENT TO COME. I expect to see another oversold rsi area.
AND THIS IS FINALLY THE MONTHLY. WE HAVE FALLEN UNDER THE MA GIVING ANOTHER BEARISH SIGNALS. Something to remember in the MA price action is that they tend to test it multiple time. We will see if this is the case with BTC.
Have fun trading!!! see you in a few days or weeks. :)
If you really want to know what people really are like, you just have to look."
This is my new update and be careful trading. Remember, markets change like the weather, suddenly.
Monthly chart still ruling the market. The chart below is for a short term which is a few months maybe until may or april. We will see.
Have fun and trade with caution.