📌 ridethepig | Bitcoin for FED
A superb live example of sellers attacking far out on the flank! These are unusual markets to say the least, rarely has the fundamental/macro picture fitted the bill. Now the correct way to proceed is to hammer at the minor support once breached and aiming for a sweep of Jan 4th lows which are now hanging.
It is now...
📌 ridethepig | Jan 4th Low are Hanging!
Buyers were hoping to play a ' manoeuvre ' on the pivot level (worth considering that sellers were not having any of it!) the rejection was a flawless setup and quite rightly trailing our stops with some breathing room was the right move .
In order to establish a breach of the Jan 4th lows permanently(?)...
📌 ridethepig | BTC Market Commentary 20.01.2021
In this position (from the $39,000) highs it's time to protect our portfolio as we try a third time to get the breakdown. This has happened in drastic fashion and a great live example of good position management. The pullback came surprisingly close to our trail, before the old shorts started cheering again at...
Lets start by measuring the enthusiasm, the radius of the attack by looking at the previous diagram and understand why $21,000 is key for unlocking the next chapter:
All is clear...Buyers have the control, there is very little to prevent the test of fresh all time highs, meaning we need to keep an eye on the impulsive extension target at $34,820; this...
📌 Bitcoin - October 2020
Well done those still holding longs in what has been a rather slow but simple grind higher. Buyers could have developed quicker according to the flow models but we maintained flexibility.
Next comes the wave 3 target at $12,364. And buyers are not particularly favourable to break through without a retrace. The correct course is to...
Breakouts and impulsive swings
📌 @ridethepig
June Map
Buyers had the move and played to exchange at the key support lows, which despite the length of compression can also be expressed in an impulsive breakup in no other terms than: Buyers in full control and gunning to take out the highs in the compression range.
I managed to carry out the...
📍 A highly interesting move for BTC would be followed by triumphal progress at the $9,000 lows again...
The main feature of interest to me is the lows played on 11th and 15th June. It has a strong bid as a barrier and was well backed up, by the 2nd June lows. The next climax to the attack can begin over the coming sessions, what we need to be asking...
As expected... an interesting day for BTC and other major Cryptos with risk under pressure once more from the latest Apple announcements. There is little to update on the fundamental side, with BTCUSD finding support at $9,500 as expected. Risk is likely to remain under pressure today so buying dips is and remains the strategy. A break of $10,000 will likely see...
