Since the price action reversal on CRYPTOCAP:BTC it has been struggling. (also sold CRYPTOCAP:ETH & CRYPTOCAP:LTC few days later) There is way too much positivity in this space for what's happening. #bitcoin is at the top portion of the gap, but may not hold and will likely fill & trade lower. We have been huge proponents of using futures data vs spot...
CRYPTOCAP:BTC has hit the 1st 24 target. Volume has been a little mixed lately. Was more buying leading up to the last few days. #BTC RSI & $ Flow indicators are diverging. RSI holding 50 but going lower (middle). $ Flow above 0 going higher (middle). Weekly #Bitcoin trend has been strong. It has been overbought since October. Monthly Not overbought, that's...
GOOD MORNING Don't see an increase in CRYPTOCAP:BTC shorts. With #ETF news perhaps traders do not want to be short. Don't see a #BTC a breakdown, JUST weakening of the RSI during this current move. BUT #Bitcoin keeps bouncing off the trendline, yellow arrow. We also see bouncing off the 20 Exponential Moving Avg, cyan, & the red = TREND strength. As posted...
One of my primary technical analysis trading tools is that of False Breakouts or as I identify them; Spikes . I have found that when prices moves quickly in one direction only to return in the opposite direction within the same or following candle this indicates a potential reversal with a high probability. The corollary to this concept is that if price does...
Good Morning!!!!!!! In reference to the rout #crypto is taking, everyone's playing Monday morning quarterback. The post quoted, pls see more info on our profile page, wasn't the 1st post with warning!!! We had mentioned the breakout had a lot of selling with little buying to support holding the move. CRYPTOCAP:BTC gave up a large chunk of the gains. We also...
Good Evening/Morning! The call for CRYPTOCAP:BTC topping around the 44k range for 2023 was GOOD! 1st trading day and #bitcoin rips higher! How's that for coincidence, huh? The call for #BTC being in a temp pause & in a CONTINUATION pattern was GOOD! IMO, the next level that #Bitcoin is most likely to test is the 48k with a good possibility of hitting low 50k...
We mainly focus on the right side of the long vs shorts but let's look @ left side today, yes? Longs were wiped out. Crumbled as can be seen by 1st pic. In reality, who would leverage a BTC long here? Back to the right side of the chart. There's a tiny amount of shorts adding up. #BTC volume is NOT heavy for such a dip, hmmm, curious. Seems as if half that sell...
GOOD MORNING! CRYPTOCAP:BTC is maintaining its trend very nicely. The RSI is still range bound. 1Hr #BTC does not show anything out of the ordinary. What is out of the ordinary are the increase in shorts lately. HOWEVER....... They're nowhere near the nose bleed levels from earlier in the year and at the end of last year. #Bitcoin moving higher could very...
GOOD MORNING! MIL:BTC is slowly creeping up towards the very important 40k level. #BTC volume is satisfactory on buys vs sells. #Bitcoin has been trending UP the red moving avg since Oct 16. IMO, keep eyes on RSI. Will have an idea by which side ends up breaking out. The money flow is still ok, for now. 40k area is very important. There will likely be...
RSI is good to see exhaustion, strength, and other signs. HOWEVER Like ANY indicator, it's just a HELP & should NEVER be the basis of a trade. Here's a perfect example....... Looked as if weakening but CRYPTOCAP:BTC keeps going & slowly gets closer to 1st target we called some time ago. RSI didn't break 50 & this is a HUGE win for #BTC bulls! #Bitcoin buys...
The pattern on Bitcoin is really similar to Ethereum, which I outline in a recent call: Ethereum - A Sucker's Rally Before The Bitter Winter The difference between Bitcoin and Ethereum is ETH has more than 50% upside available to hit its similarly-placed goalposts, while BTC is just another ~30%. Fundamentally, the problem for crypto bulls is that the 2021...
Whoever is shorting crypto right now probably has a death wish. And this isn't because there's going to be some new paradigm replacement of the USD or because institutions finally see the value of digital currency BECAUSE BLACKROCK ETF. It's because Bitcoin, Ethereum, and all the other chains are going to zero, because they're in the way of the advent of Central...
📉This graph shows the average price of the main ETF's in the cryptocurrency sector, and their correlation with Bitcoin. 🟢These are the ETF's aggregated here: PROSHARES BITCOIN STRATEGY ETF GRAYSCALE BITCOIN TRUST (BTC) GRAYSCALE ETHEREUM TRUST (ETH) AMPLIFY TRANSFORMATIONAL DATA SHARING ETF (BLOK) BITWISE 10 CRYPTO INDEX FUND (BITW) GLOBAL X BLOCKCHAIN ETF...
Reviewing the time around the halving that produces profitable trending signals. From the chart 1 yr and 2 months before the halving and 1 year 5 months after the halving produces profitable signals consider pre halving to be spring consider post halving to be summer consider the red X between the two to be winter and unprofitable to take signals. Posting...
Frankly speaking, Coinbase is a stock you actually want to keep a careful eye on, because as the US/International regimes fully integrate digital currency, Coinbase is quite likely to be a key organ of the network. But for now, this thing is worth $14 billion still and at a time that the crypto market is doing really poorly, Binance and Tether are ticking...
The current generation of digital currencies are something I really implore you to lose all faith in. At this point in history, they are old, and have been corrupted by various factors using the "Embrace, Extend, Extinguish" technique. In the short term future, the existing cryptos will be significantly marked down as a result of Central Bank Digital Currencies,...
BITCOIN goes as well... This is not out of the question.
You can't Fink a Fink... This price action is suspect across the board and feels fake. I think the release of BITI gives the best clue... As soon as retail in the US had the ability to short BTC legally. The price rises. And BITI falls... Now all the talk of spot ETFs creating liquidity. To exit longs and accumulate shorts. Only to drive the price down...