Hopefully when shorts try to drive it to break that channel to the downside, the damage is not too heavy. When I say it is looking bearish, doesn't mean I want it to go down, but it is looking like 44 or lower might get tested by tomorrow in the early am.
Don't have time to do any analysis, I am currently on a laptop while replacing a component on my Desktop, where I do 90% of my work. I will revisit once I'm up and running. If you bought low, that should be safety enough for you, but don't be surprised if we see much lower. I am not selling anything, this is not my first bear encounter with Bitcoin. It is also not...
It only took 19 hours for bitcoin to shave 17% of its value, with a magnificent stop-hunt claiming liquidations for about 1.5 Billion.
The retracement was deep enough to reach the last line of defense around 786 Fib level. Currently under the bearish territory, looking for buy entries above 54k handle, time to wait and see. Although the crypto market remains in...
Bitcoin may be in the process of completing the biggest, most extended Wave 3 in the history of all assets, literally jumping from $3K to $50K+ in one, single, pump! Quite unimaginable actually but it sort of makes sense if you think about it (of course its easy to say this in hindsight, lol). The 4/3 was a massively tricky one to catch, which I surely failed to...
Chart is self explanatory, I'm always a little early on the bear parade, usually one full move off, but lets see what happens this time.
I just sold everything up here. I see we're losing momentum, everything is mainstream and on the news, there's a lot of resistance above, been making lower highs. I think the fun might be over.
I usually go short too early so...
These were my two possible patterns I've drawn a couple of hours ago.... looks like the light blue it is or might be. What's your target for this drop?
Notice there was that bullish DIV on RSI at 15 and also at 5 mins
Hi everyone! First of all have a happy new year - stay healthy and well :-)
When analyzing BTCUSD I have noticed a resemblance between what is happening right now (months of Dec2020 and Jan2021) and December2017/January2018. BTC made similar gains, as it did in that year of 2017/2018, recovering from a previous low back to the ATH (approx. 60%), before rallying...
Hi here are a few patterns I have drawn out for you, we are analyzing BTC/USD on the 4 hour timeframe.
As you can see on the 4hr time frame for BTC/USD we can see a rising wedge pattern & a head and shoulders pattern beginning to form. The wedge consists of the head and shoulders pattern neckline and candle lows. If we continue with this pattern and see...
BITCOIN - Intraday Update - 12/03/20 (Short-term)
The bearish alt: count.
Bottom Line: The alternate count, is the Bitcoin may correct in a wave ((2)) minor. A more bearish possibility is that wave (C) is developing as a zigzag and will make a new low under 18140 before the rally in wave ((3)) begins.
Two possible setups:
It looks simple, doesn't it?
Tomorrow is Weekly Closure. if we see another rejection the short setup is valid in case a doji is printed which means we might need to wait 1 more week, otherwise be a bull with big balls!
Not a trading advice just our thoughts!
MM67 TRADER TEAM
Not Convinced; I think the stock to flow model is great, but let's look at real data before we continue to put our faith in it. For example - Gold has a similar concept, in regards to bitcoin and other cryptocurrencies. Yet, when we adjust price with inflation, there is still extremely long periods like 1981-2006 where price didn't budge. And, if we look back even...
Trend line following our 10.5k run is perfectly in tune with us now. We had a 109% bull run! Lovely! Now... This is where things will begin flipping. Loaded my short just under 7600 from yesterday and still holding on to her. Might be holding this one long term. More side trades for short term scalps. Hope this gave some new prespectives. Happy Trading!