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As I made a case for FTT and have made a case for COIN and GBTC before, I want to keep sharing some unique charts and cases. Again, my FTT idea was banned (from a little mistake), so I just reposted it and want to continue with more special cases. By special cases, I mean stuff that looks weird, infeasible, or tricky, where sentiment is leaning against my case,...
Here's the EOS/USD 1W Chart on Bitfinex(long history).
Right now we can see the horizontal channel forming. In this channel harmonic pattern on daily TF formed and worked out the first target, which is the middle of this local horizontal accumulation channel, in terms of 1w TF.
Now we're near the support of this channel 0.86$. Recently the big amount of EOS were...
Volume is one of the strongest indicator and can help you clear any doubts.
Ethereum Classic (ETCUSD) hit a higher low compared to June (5 months ago) but how to know if it will recover here or continue lower?
Here we use the volume indicator.
Notice how trading volume continues to diminish, it goes lower and lower.
That's your signal.
It means the current...
Bitcoins monthly RSI hit its lowest level ever in December 2022 and is showing a hidden bullish divergence that is 7+ years old, since 2015.
Here is the chart:
Looking at the moving averages, the Fib. extension numbers and the current monthly candle, we see the potential for a bounce/recovery/relief rally that will push prices up to $19,200, followed by $21,495...
Say what you will... But to me it is clear that we win.
Bitcoin is preparing to move to $19,000+...
We are very likely to see bitcoin move above $20,000 followed by $25,000 next month.
Yes to the retraces, correction and shakeouts... But nothing moves in a straight line up... It shakes around but prints higher highs and higher lows.
Namaste.
The Bitcoin cycles get really repetitive once you layout the movements like I have here we start to see the patterns it creates.
I don't daily trade I don't recommend you to either, open your mind to a further time frame and setup prior to these movements giving you freedom to use lower leverage if you do trade.
I use the L-MACD (Logarithmic Moving Average...
Bitcoin's weekly MACD has only been below zero a few times in its life...
Here we see this event happening between May 2018 to April 2019.
From April 2019 Bitcoin grew until November 2021... OK!
Here is the chart:
The weekly MACD for BTCUSD hit its lowest level ever in July 2022 and now is trending up as if it is the end of the world.
It is reaching up to...
Bitcoin's bounce is about to speed up.
We are now revisiting our previous trade idea on the short-term but this time, 4H timeframe.
Notice we have the classic cup pattern starting to form.
The RSI is trending up while gaining bullish momentum.
Prices are trading above EMA10.
The target remains $22,400-$22,500 in the short-term.
Namaste.
No volume here on this exchange as Bitcoin continues to move up, daily.
No volume because of no sellers.
No volume because of no downward pressure, easy up.
Slow and steady growth signals strength.
Bitcoin is moving above EMA300 today, after coming out of a multi-year low/strong support for the first time since April 2020.
This signal will need confirmation as...
After hitting $23,333 bitcoin has moved above September 2022 and is now at its highest level since August 2022.
The $25,209 is the August peak and last barrier, after this level we would see bitcoin trading at its highest price in more than 7 months. The good news?
This is only the entrée, we have yet to get the main course.
How does market psychology works?...
Bitcoin just hit its highest level since September 2022, the highest level in more than four months but there is even better news... This is nothing yet, this is only a short-squeeze before the real growth starts.
We are now at the 21st of January (UTC) and bitcoin is already moving ahead.
Just as it happened with the 12-13 January event, where the initial...
The MACD has a story to tell about bitcoin and where we are at in the current market cycle.
Let's dive in shall we?
Feel free to boost/like 🚀👍 at the end if you enjoy the content.
We start with the daily timeframe... The MACD hit bottom in May 2021, just a little after the time when the first 2021 ATH was hit... Here is the chart:
Ever since this May 2021 low...
Keeping it simple, here is the path to $48,000 based on the weekly timeframe and a bullish Q1 and Q2.
Many signals are pointing to this scenario now becoming the most likely...
What do you think?
One final note... The sentiment, the market sentiment is really, really bad.
The level of negativity we are seeing and experiencing is not something we've seen...
The real meaning of the RSI numbers going above 80 is "strong".
The signal can be read as "strong" or "very strong".
RSI = Relative Strength Index .
Below a certain level we consider weak/oversold.
Above a certain level we consider strong/overbought.
It works with the trend.
You need some context for the RSI.
It can go to "overbought" and stay there...
The situation is much worse than anything we thought possible... The bitcoin bears are not in disbelief, they are in complete denial.
To the bears, bitcoin is crashing hard and hitting new lows.
Forget about the massive bullish breakout, high volume and multiple resistance level taken out in just a matter of days... To them, it is sure it "will continue"...
