Over the last couple of days I have been calling for a retest of $7,950. If bearish that would be a good spot to open a short. If bullish, $7,350 - $7,500 is still providing a very attractive risk:reward on a long. I am remaining on the sidelines until the triangle that started on 2/6 breaks one way or the other. We are fast approaching the 66% benchmark, which...
Yesterday I expected a bounce off of $7,950 support, but I stayed away from opening a long after getting burned these last few weeks. Today we are looking at the last line of support before it will be time to put on my bear suit and join the enemy. If you can beat em, join em! We are currently bouncing off of the trend line (green dotted) that I drew on May 15...
Yesterday I was fully expecting a bounce off of the hammer doji and horizontal support at $8,200. My stop loss was set at $8,097 and that was triggered a few hours after my post. I have gotten rekt going long over the last couple weeks, and that has forced me to zoom out on the charts and re-evaluate. I have used a fresh chart to illustrate what I am looking...
Yesterday I started to build a long position at $8,375. I entered ¼ of my position and waited for further confirmations. I was fully expecting a bullish crossover on the 12 & 26 day EMA’s (6 hour chart) and unfortunately that has failed to materialize. We continued to pull back through both of the longer term bull trend lines (green dotted and orange solid) and...
This morning I am happy to say that both of my questions from yesterday have been answered, and I am even happier to say that we got the bullish answers everyone was hoping for! $8,200 was attempting to turn into resistance and that has failed. We pumped up to $8,400 and then supported $8,200 before created another local high. In the past 48 hours we have...
Yesterday I was on the sidelines waiting for two big questions to be answered. Now it looks like we won’t get the desired clarity until after another slow weekend. Those questions were and are: 1. Will $8,200 turn into resistance? 2. Can we break the 14 day down trend? We rallied right past $8,350 and for a moment it looked like we would be leaving both of...
hi all of my fans check this out my forcast on weekend i hope all of you earn big money
Yesterday I was watching from the sidelines as the price brokedown through $8,200 support and appeared to be confirming a second bear flag. From there I expected us to fall down to the green dotted bull trend line at $7,150 - $7,250. As it turned out we found some support at $8,000 - which has given us a bounce for an $8,200 retest. From here there are two...
Yesterday I was licking my wounds as an injured bull and today I didn't looked at the charts until after 9:00 pm. Before taking a break I determined two support clusters that were most likely to provide a bounce. 1. $8,200 (horizontal and trend) 2. $7,150 - $7,250 (horizontal and green dotted trend) I am not too surprised to see the first option fall through....
Yesterday I entered a small position at $8,500 and it didn’t take long for my stop loss at $8,249 to get triggered. That is my sixth losing trade in a row and now it is time for a break. It can be very difficult to think clearly when on the wrong side of the market for that long. A few days away from the charts to clear my head is exactly what I need. The market...
Yesterday I warned against buying into resistance at $8,800. As expected we pulled back off of the horizontal and trend lines. We are currently finding support at $8,475 and if that holds it would mark the third higher low, to match with three higher highs. I really like that the pullback has yet to fall through the developing trend support (green dotted)....
Yesterday I was concerned about upcoming resistance at $8,600 - $8,800 and I was keeping a very tight stop loss on my long. I got out at $8,569 right as the price was falling through support. There was decent volume behind the selloff and when I went to bed I was expecting to wake up to sub $8,000 Bitcoin. To my surprise we found support for a second time at...
Yesterday I was holding onto my long from ~$8,615 and was very confident that we would either get a bounce off $8,200 or find a range. I felt good about that due to how far away we had fallen from the 12 & 26 day moving averages. That was confirmed with a few candles closing outside of the Bollinger Bands. Now that we have cooled off a little bit I am keeping a...
Yesterday I built a long from $8,607 - $8,628 expecting to see a bounce over the weekend. Unfortunately we continued to break down to $8,200. When the price did bounce it was short lived. I am still holding onto my position, mainly due to how far out of equilibrium we still are. I have put on Bollinger Bands to help illustrate this fact. We have seen multiple...
This morning we broke out of my no trade zone. Unfortunately it was to the downside! Breaking through $9,000 support has changed me from bullish to neutral. Nevertheless I strongly expect a bounce in the next 12- 24 hours. We fell $400 (4.44%) in four hours and $700 (7.5%) in the last sixteen hours. Furthermore we have not see the price this far below the 12 &...
Yesterday I set a no trade zone from $8,800 - $9,500 and today I am happy to see us grinding towards the upper end of that range. I have been keeping a close eye on the moving averages to try and get an idea of where we are heading next. We have been getting resistance from the 50 day SMA (red) over the past twenty four hours. If we can break above that then...
Yesterday there was not much good news to report as we continued to break down through multiple areas of support. I noted that the last line of defense for the bulls was $9,000 - $9,200 and it looks like that area help up...at least for now. The next step will be rallying back above $9,500 and then turning that area into support. If we get rejected below $9,500...
Technical Analysis Previous two candles had large wicks indicating the bears have lost momentum and the bulls are taking control. There is a great opportunity to get into a low risk long position for BTCUSD placing stops below recent lows, while take profits set modestly below the trend channel. Entry: 9128 T/P: 9437 S/L 9028