Fundamentals of Bitcoin: Bitcoin aims to be a vehicle for payments and a store of value, similar to gold. The payment aspect of bitcoin has struggled due to its lack of transaction throughput, but continues to succeed as a store of value due to its deflationary nature. Every 10-15 minutes, a new block is added to the bitcoin blockchain; a blockchain is simply a...
Bitcoin had a nice dip at $40K as we anticipated it would. First, we had the dollar strength off inflation and interest rate expectations from the FOMC meeting yesterday. But additionally, $40K is a formidable barrier that BTC has rejected many times since its descent to the $30K's. It seems that bigger players are waiting for another dump in BTC before adding...
Bitcoin is maintaining a narrow range, hugging highs at $40K. We have support from below from $40K which is a good thing, but if this does not hold we are back to the $30K's again. The level $37.7K should provide support, but we have $36.7K just below it as well. Again, $30K seems like a hard lower bound for now. If and when we muster enough momentum to break...
I have sympathy for all my bear friend! how could you say " bitcoin is going down to 10k" when we haven't even started with fifth wave.
Bitcoin has gotten a spark of momentum, making a run for $40K. This is a significant attempt for BTC as we were stuck in the doldrums in the $30K's for what felt like ages. Beware of the cluster of levels around $40K, which will serve as a barrier between current prices and the vacuum zone above to $45K. If we can solidly break these levels then $45K is our...
Bitcoin has rallied almost 30% since it touched lows at $31K. All it took was another tweet from Elon Musk, changing his stance on accepting Bitcoin payments yet again. We are currently back up to just under $40K, which we have pointed out in these reports to be a significant barrier for BTC. We are likely to continue to meet resistance here and potentially...
I will just keep it short. There is only one direction, and I don't mean the band. I*'m Ape-ish AF on $AMC. I've seen some other members of trading view trying to convince people to go short on $AMC, because various reasons, but personally I think there is no more worse position to take then shorting on $AMC. You just can't take it up against more then 4.100.000...
The line chart is posing some bit of hopes for BTC buyers! A falling wedge kind of structure has given a upside delivery! A sustainance above 39.5k will ensure higher levels for us soon!
After completing the Cup and Handle pattern fully, it looks to me as if we completed a full impulse wave 12345 with a ABC correction. This perception is also supported by the perfect fibonacci levels and filled the gap at 211 to 220 This suggests we are about to enter a new cycle. Since the Earnings report was incredibly bullish (25% sales growth, 49% earnings...
Bitcoin found support at lower levels in the $30K handle and was swiftly bought back up to resistance at $37.7K, where we are currently hovering. It does look like we are in the process of forming a bull wedge or other consolidation pattern but we will continue to face resistance from $40K even if it does breakout. Broadly, Bitcoin is holding the range between...
Spent the night drawing up a chart so that I might help good folks to position themselves for what I see might be coming. I am personally side-lining until the lows. I contend that we are currently in the start of a macro wave 2 following the breakout pump that took us out of the 2018-2019-2020 bear market to the all time high. Projecting 20k then 45k then 8k...
Bitcoin has seen some life recently as it has rejected the low $30K handle and made a run for what appears to be $40K. However, $37K is proving to provide some resistance and seems to be a significant barrier to the beleaguered BTC. We have a red triangle on the KRI at $37.9K, suggesting we may see a pullback from these levels, which are the only thing standing...
I check out the meme stock charts every once in a while - not to buy or short, but because they're all interesting phenomenon to me. So this isn't wishful thinking. I'm not a hold till I die guy. I don't even hold shares right now but that is very likely to change tonight. AMC has a completely text book bullish pennant. Tomorrow or the day after it looks like...
Idea for Gamestop: - GME broke out of a Trend Bull Flag and is in a a Trend Cup & Handle. - Not to be outdone by AMC, GME should see a very similar performance. - MM spread will soon be broken and they will soon be deep underwater. - Time frame of Wave 3 is this summer and Wave 5 should be EOY. - Long term log trend: TP1: 600 TP2: 1000 TP3: 2000 PT: 5600 GLHF - DPT
Bitcoin found support at our lower Fibonacci anchor at $31.4K. It caught a meager bounce here, but momentum seems really flaccid. The Kovach OBV is still solidly bearish and the small uptick in momentum here did not even register. It is tempting to think that we are seeing a double bottom at $31.4K, however we are more likely to see a bear wedge form. It looks...
Prepare yourselves for a few more weeks of bear market. Place big buys under $20K if we see it. Stack satoshis at all costs. HODL.
First it was Elon Musk, then the China mining crackdown, then the Colonial Pipeline ransom, and now Donald Trump thinks Bitcoin is a scam oh no!!!! What's next on the Bitcoin punching bag? Overly optimistic when prices are high and overly pessimistic when prices are low is how our emotional psychology works plays against us. The lowest point I see Bitcoin...
Bitcoin has dumped again, this time finding support at $32K, which could be a new technical level. It seems roughly in line with the lower anchor of our Fibonaci extension levels. The lower bound still seems to be $30K, but the fact that Bitcoin seems to be making another run for this is not a good sign. As we have said before, the longer it is comfortable in...