Hi friends! Welcome to this update analysis on Bitcoin! Let's get right to it! Looking at the daily BTC chart, you can see that BTC has moved exactly as I projected in the last analysis, both on the upside and the downside. The arrows are still on the chart from that analysis, and you can see that it's a perfect match for how price moved. That's actually true for the majority of my analyses. Yet, people still cry and complain in the comment sections. I swear, I could give people a perfect projection 100% of the time, and they would still cry me a river. I guess when people only read the titles, and then glance at the charts without reading the conditions of the analyses, it's impossible for them to have an accurate understanding of what the analysis is actually about.
Take this chart for example. I indicated what I thought would happen in BTC, based on the arrows that I drew. However, I also told you that once BTC returns to the 50 EMA (in black,) we have to see a hold there or the market could be in for a serious decline. That's still true today, even though I have a green arrow rising off of the 50 EMA. That's not showing what I think will definitely most certainly absolutely unequivocally happen. It's simply a display of what I expect to happen, IF IF IF IF IF BTC holds support around the 50 or the rising purple trendline. Notice, the "if" statement. That's called a "condition." In case you didn't know, conditions are what ALL technical analysis is based on. If you have a problem with conditions, or fail to recognize them in an analysis, then you have a problem with technical analysis in general. If that's the case, then why are you here?
So, what I am most interested in, is seeing if BTC can hold the 50 EMA. Just below that, we have the rising purple support line. So, if BTC falls below those levels, I expect that we could see a rapid fall to the 7,000 level. However, there is a chance that BTC can hold the 50 EMA, and/or the rising purple trendline. So, if we hold around that area and start to head higher, we could have a technical setup to produce a powerful rally toward 13,800.
Looking at the indicators, we can see the MACD is crossing over bearish, the NVT broke back down below the orange signal line, and there is clearly some short term selling pressure building in the market. So, let's watch to see how BTC responds to the 50 EMA. If it gets below that, the next major support is the purple rising trendline.
On the Ichimoku cloud, we can see that it is red and price has fallen below the cloud. There isn't much sell volume to speak of, but the indicators are flashing a more neutral to negative short-term outlook. Price needs to hold the 50 EMA support, or the rising purple trendline, to keep the bulls in control.
#PoopLovesSomeOfYou
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
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Don't miss my breakdown of how I think a global currency crisis could emerge...
@MagicPoopCannon bro, your charts and analysis are some of the most accurate compared to anyone else that I've followed on TW; there's no argument there. But you waste way too much energy arguing about why you were right and always complaining that other users hate you. They hate you because you're hating all the time too, it's just simple Karma and Law of Attraction energy. Just stop hating and complaining, keep up the great work and limit your commentary to the present and future forecasts. Not only will it save your poopcannon lovers half the reading time but also makes for a better community and your own health.
Jeeez, I typed why too much for today. Byeeee
VisionCodeX
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@scottialex, Also, ask him why you delete comments that disagree with him (non-threating, no verbal abuse),etc. Something is off here and no one is noticing.
alejandroscotti
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@Akhokhar86, how about you unfollow him and stay away from his charts. We the people that trust his analysis would appreciate it if you do that. It's his channel and if he wants to delete comments, that's up to him. Thanks buddy.
VisionCodeX
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@scottialex, Yeah, well, how about no. I've been warning his follower to stay away from XRP for so long now I think Mr. Poop is upset.
I've made more than 99% of traders over the past few years...I think Poop has something to hid or doesn't like the competition. Just go to my twitter page and see the result.
alejandroscotti
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@Akhokhar86, whatever dude
alejandroscotti
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@Akhokhar86, Are you talking about your XRP forecast like this S&P 500 forecast you put out in March?
VisionCodeX
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@scottialex, I've moved on posting on this platfrom a while ago, for those that listen and followed me to twitter, cheers! You are outperforming Mr. Poop and 99% of traders. This is a fact.
Remember, you cant delete a post on twitter, but you can't 'edit'
ALSO -- look the commentary and see how well I did back then (you will see the BA Puts that made over +1300% = IN THAT POST) = lmao! Thx.
Sorry, bud. Nice try.
You are more than welcome to follow along and make real money like those that are following me.
Ignore the noise. Crypto isnt as profitable as stocks (when you know how to trade).
alejandroscotti
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@Akhokhar86, bro I follow people far greater than poopcannon and yourself, I don't need to follow you but I'm not saying you're not worth it. We're in a new crypto bull market and any average person with a basic cellphone can make 100x in 3 years... I don't see how anyone can take credit for that trade. I knew the Dow would stop at 26k back when it crossed 18k.
I'm not giving you sh!t, I'm just throwing back at you your own sh!t. It's all good and I bet you're a decent smart trader; keep up the positive work.
VisionCodeX
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@scottialex, Everytime I position well before the market turns or shoots higher someone says to me "luck"
Just scrole through my feed, can't be luck if it's done consistently.
I'm not trying to boast or anything.
My concern here is that Mr. Poop is purposefully censoring certain comments (that do not break any rules).
EVERYONE HERE should be asking why my comments are being removed.
That's the only point here folks.
I've said many times how much I respect and appreciate Mr.poops work.....i dont get it.
alejandroscotti
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@Akhokhar86, well, if you understood that your "commentary" is quite annoying, you'd understand why they get deleted. I'm not sure what else to tell you bro... The Universe can give you really powerful signals if you care to look
Jeeez, I typed why too much for today. Byeeee