When do you know that BTC is going up even though it looks like it is going down? Simple, the constant bluffing, it keeps dipping under the trend line but goes back up before it creates irreversible damage. What is irreversible damage? Closing too many candles under a trend line or a moving average, because if it closes too many candles under resistance it creates...
Back on December 20th, I noticed that BTC has started a shift towards going up. When you gain enough experience you'll see these shifts the day they happen and you start cashing in on them right away. I was making a case against the tide, footprints of a pivot are very subtle and most analysts can't see them. The consensus was that we were going down some more, my...
Where we are right now has all the makings of a temporary bottom, we've been trying to overcome this $7000 to $7500 area since November 21st, and at this point, the headline is that BTC refuses to go down, that shift I pointed out on the last post is very telling. If you look closely at my 1D chart you can see that we have been testing all kinds of support while...
A few weeks back I made a post about how BTC appears to have made a shift from running downhill to starting a slow uphill jog. Is this slow walk uphill going to hold? So far it has (for two weeks now) but we're about to find out since we are coming up to a decision point very quickly. There is one area of concern that can answer the question, but we'll circle back...
BTC better get on board or it will find itself on the bad side. As you can see the 50MA is dropping towards the trend line, once those two combine forces, it will become strong resistance, but if BTC goes over the 50MA the two become strong support. I will breakdown for you the two options in detail. Keep in mind we are focusing on the big moves, not the little...
BTC finds itself under an ultimatum, action has to be taken soon or it will be forced into making a choice. As things stand right now price is being squeezed between the 50MA and the green trend line. What action does BTC need to take? Bitcoin is showing a lot of weakness but keep in mind that in trading what you see is what the manipulators want you to see, the...
BTC is making some interesting moves and answering some questions along the way. What we saw over the last few days was predictable but we are beginning to go into behavior that's a little dangerous. After reaching out to the 50MA on the 1-day chart, which I called "First Serious Obstacle" -- and now you see why-- got rejected in a decisive way (from $7700 to...
I hope you all have a greater appreciation of what were are doing and what we are accomplishing here. Good TA keeps you ahead of the game not by guessing but by reading the signs. In the previous posts, I have been insisting that the green trend line was the right one to follow and so here we are. Even when BTC was throwing signs that it was headed down I kept...
This is how you want to build a case on BTC finding a bottom within the green trend line. So we talked about it at length yesterday but today we can see that BTC has remained above that green trend line, if we close a candle today above it as you know that is a sign of strength. All BTC has to do is stay above $7200 today and $7250 to $7300 the day after and so...
Looking at the 1D chart you can see we are back to that damn obnoxious line that kept us around $6500 for weeks last year. To be clear we are talking about the white support line I drew a few months back, we've hit it twice now and have refused to go below it. I can look at this chart and write a 12 page analysis on the last 4 candles but let's keep it...
My technical analysis is not about guessing where price is going to be, it seems that way because I consistently tell you where things are headed. Trading and technical analysis are about reading the charts like a book and interpreting events and hidden clues such as popular sentiment to market manipulation and setting buy zones according to this info. I set my...
BTC failed 2 out of the 3 benchmarks for going up and showing strength. It was not able to close above the 50MA on the 4H time frame nor did it close above the 50MA on the weekly chart. This is the 4H view This is the weekly So what's left now for BTC and what can we read from the important 1D chart (the main one above.) BTC is still walking up the...
BTC failed 2 out of the 3 benchmarks for going up and showing strength. It was not able to close above the 50MA on the 4H time frame nor did it close above the 50MA on the weekly chart but it has stayed above the green trend line on the 1day chart. This is the 4H view This is the weekly So what's left now for BTC and what can we read from the important...
If BTC closes above the 50MA (50-day moving average line) on the 4H (Four-hour time frame) that will also push BTC to close above the 50MA on the weekly which is a pretty good sign of stability. This is what all of that means; When the weekly candle closes this weekend above the 50MA it is a signal that BTC does not want to go any lower than $7300 at this point....
I will be very honest and show you my cards and what I'm hoping for. I will do very well next year if BTC goes from here to 20K or above, but I will do exceptionally well if we hit the $4800 area, why? Because at that point I would have 100% of my working capital in, and BTC is showing signs of storing all kinds of energy for the next move, meaning we may go...
We are about to hit a very important spot, and this is very critical because it will indeed dictate how things will go for the short term. BTC is about to test the recent landing spot of Nov. 24th and this is very simple; If BTC refuses to go lower than that green line, we are at the bottom, if BTC dips below that green line we will try to eventually touch the...