Bitcoin lost the critical $9500 level and is now looking to retest an aread of confluence below namely:
- 200 day moving average at $8789
- The point of control of the whole move at $8600
- The 50% Fibonacci retracement level
- The 20 and 50 week moving average at c.$8500
- The CME gap.
In simple terms, i am looking to short a bearish retest of $9550 and am...
Hi Everyone – well what a week last week was, incredible stuff. For the second time this year Bitcoin made a move which left people completely stunned. Sure, the 61/8% retracement is a good place to buy and something we have been tracking for some time, but a 40% upswing in one day off the back of some China news is unprecedented even for Bitcoin given its...
Bitcoin continuing to complete corrective phase to backtest $8k.
Pattern has repeated twice previously, both on the close, both to close CME gaps and both resulted in continuation into buying interest. See them attached for reference. Both made alot of money.
Weekly looks good to hold above the 20WMA which is critical on a macro POV.
Im interested in $8k-8.1k....
Through 2019 Bitcoin has once again proven to be the best performing asset available to the masses, far surpassing the expectations of even the most bullish commentators in the space.
A staggering recovery from lows around $3.2k of 2018, accelerated through to highs of 13.8k - around 4x to its peak.
After such an impressive move to the upside, one which fast...
Nice Bitcoin pump yesterday but PA is miles from out of the woods.
Lets talk bull when these have been cleared:
- POC Resistane
- Diag Resistance
- Multi Week Resistance
- Monthly Open Resistance
- Weekly Open Resistance
Looking for a retrace to 6800-900 to see if we can get enough of a bounce to start asking questions about the resistance.
Bitcoin Failed at its attempted adam and eve meme reversal yesterday - was pretty clear in the OBV breakdown and now we have the POC lost and acting as resistance.
I am short from yesterday, looking for sub $7k prices before closing.
Logic is that although middle of the range there is quite a clear AB=CD objective to around $6800 which is also the 78.6% fib...
Despite Bitcoin going ballistic, it does not mean we cannot approach this market with a calculated approach and avoid any panic.
We have some clear objectives and targets as discussed on the chart.
No need to panic here, develop an intermediate plan and stick to it to avoid panic.
Let me know what you think will happen next.
Follow on twitter etc for more...
Bitcoin continues to show signs of strength.
The Short positions at Bitfinex are now higher than those that preceded the breakout which took us from 4-5k
The Long positions at Bitfinex are now the same as those that preceded the breakout which took us from 4-5k
Bitcoin continues to grind up, without sign of there being any leveraged positions being taken up...
Two recent important pivot points for bitcoin in recent times - both with immediate differing outcomes, but ultimately both leading to the Inv . H&S taregt being reached.
Im now leaning to the more bullish 2018 after the breakout yesterday.
Drop a like / Follow on twitter.
Ok so this is an unusual unforseen scenario.
This is how i plan to play it at this very early stage, preempting the information.
I have gone to cash (actual fiat not USD) and i am expecting a sell off on the BTCUSD fiat pair.
The reason why is because those people holding tether will want to hold fiat while there is risk in tether.
The way this will be...
I recently shared a post which illustrated how to use the OBV (attached - please review) which showed us how and why it is useful.
In short, it combines cumulative price direction AND volume and helps illustrate where critical relative volumous price action takes place, relative to that which has taken place before it.
In this chart we can see that once...
When you look at the whole picture, bitcoin seemingly has Demand being > Supply in the 3k range.
Granted we only have two periods now to look at but the ranges are aligned in terms of where there are clear areas of support and resistance.. aswell as those where price simple carves through.
A Bitcoin higher high above $4250 would imply a void in volume through...
Bitcoin is once again knocking at the door of $5k.
Most of the commentary is on the chart but we now also have a clear inverse head and shoulders bottom.
There may be volatility ahead - the bulls must flip previous resistance now into support and attempt to stay about across the $4055 at finex ($3950 everywhere else).
A failure here will likely see us backtest...
Would like to see a quasi Inverse H&S form here, finding support $3400 - $3500 at key fibs, which would also complete the Adam and Eve.
Volume Profile is not really there unfortunately
Fail to find support; its bad news for the bulls and we will retest lows, certainly $3200s and failing a strong reaction we will go deep into $2000s.