BDG

BDG

I started this topic Saturday morning, at least in my head. I write most of my analysis at night and I didn't want to work Saturday morning. Can you blame me? Everything on the chart looked fine this morning. I even had the title picked out for my topic "Moon Launch Delayed". Then in the afternoon the rocket blew up on the launch pad. Or so I thought. Panic...

BDG

The bears have been feeding on BTC for the past couple of days. I know it seems a lot longer than that. In the TV public chats people think it is the end of the world. But hey, it's only been 2 days. BTC has been trading in an upward channel since April 1st and this channel gives us a good indication of the extreme movements we can expect from BTC. (I am using a...

BDG

Ethereum is being ignored, and no wonder. Her big sister Bitcoin has been getting all the dates lately and Ms Ethereum has been sitting quietly at home planning her escape. ETH needs to break out (of the house) without getting caught and sent back to her room. She has made two attempts so far, but she didn't make it very far. This sort of reminds me of...

BDG

BTC has been in a wedge for over a week and its range is narrowing each day. It is wound tighter than a $5 watch. If you look at the Bollinger Bands Width you will see when it gets to 0.07 or lower, there usually follows a violent price swing. But we can't tell which direction it is headed. I'd like to see it retrace back to 9.5k so I can buy more, but hoping for...

BDG

If you missed the low on Tuesday you may be getting another chance. If we get 3 or 4 more bearish days we will be around 10.5k and the Fib level 0.618. Did you notice the correction came close to 0.618 but never crossed it? It better not fall through the 0.618 otherwise we are headed to 8k. Normally I'm not this bearish but I did some calculations this evening...

BDG

I took a look at the weekly BTC chart with the Fib retracement levels, and I saw something quite remarkable. Since the ATH in 2017, the Weekly candles have NEVER been able to CLOSE above the 0.5 Fib level. It has tried 8 times over the past 18 months to close higher than the Fib 0.5 level, and failed each time. Even last week's meteoric rise to almost 14k, ended...

BDG

We missed the bullet yesterday as BTC bounced off of 10k and we are now moving up. Break out the champagne and let the party resume. Not so fast. I'm not so sure we are anywhere near bullish enough to be buying imported champagne. It is more like domestic beer and a pizza. The chart shows what I believe is an organized run up from April 1st when it shot up $1000...

BDG

We bounced off of the 10k level today and the bulls cheered their victory song. We are going higher they claimed. Well, not so fast. It looks like we had a dead cat bounce today. I give it a 60% chance we will retest 10k tomorrow and if it happens, we will either bounce off of it again or crash through it and head towards the Fib 0.382 level. Each time we hit 10k...

BDG

The daily price cannot close above 0.618 (resistance) while the bears are trying to take the price below 0.5. Which Fib Level will win? If the price falls below the recent candle wick low of 10.3k, then we are likely headed to 9.5k which is the next Fib level. It is like watching a game of pong, where the ball (price) keeps bouncing between two sides of the...

BDG

In my last article on ETHUSD I said it was close to breaking out above the 150 SMA on the weekly chart. Well, now it has. RSI is very strong (above 60) and the MACD is finally above the zero line. We have not seen this in over a year for the MACD and RSI has not been over 60 since January 2018 *the good old days". LOL The 150 SMA (weekly) is now where I would put...

BDG

As noted by another analyst this week (I can't remember who), after a long bear market (2018) the price recovers and then when moving up it hits the 0.382 Fibonacci retracement level, in the past there is often a major pull back of more than 40%. I don't expect it to happen here (I hope) because there is far too much FOMO in the news of BTC hitting the moon. But...

BDG Updated 

ETHUSD has a couple of interesting moving averages on the weekly chart. The yellow 150 SMA us acting as resistance. The price keeps hitting it but can't break through it and close above it. Not yet anyway. I suspect when it does break through the 150 SMA (weekly) we may see a price surge in ETH. The red 21 week EMA showed us the breakout on April 1st and appears...

BDG

The Litecoin halving will occur on August 6, 2019. In past halvings, Bitcoin and Litecoin prices would drop significantly prior to their halving. The reason for that of course people rode the halving news up and got out because they wanted to preserve their profits. In other words, fear overcame their greed. The same thing will probably (I give it 80% probability)...

BDG

Steem is in a ominous place right now. It is down 95% from its all time high and this is what I call the coin graveyard. It has 3 possible outcomes: 1) It continues to drop and it dies here (dig a grave for it) 2) It keeps churning sideways (walking dead) 3) It builds up steem and breaks out to the upside People go to these coin graveyards looking for a pulse...

BDG

The surge in BTC this weekend has hit $9387 and has pulled back slightly. It may try to take another run at it to see if it can break higher. I find it very interesting that this new high just happens to be very close to the 61.8% Fib retracement of $9429 (within $42). This may act as resistance for now and I would be surprised if it can break through this barrier...

BDG

On the 4hr chart, the price had tested the top blue 150 MA several times before breaking out. BTC had been accumulating between these 2 moving averages since June 4th now it may have enough energy to take it to the price next level ($9000?) The 21 EMA will be following close behind the price and I will be using that as my stop loss. If the price falls below the 21...

BDG

My last post I incorrectly used a 200 SMA for the bottom of the sandwich. I should have used a 200 EMA and I have updated the chart accordingly. With these averages the sandwich is still intact. We are still waiting for a breakout from this sandwich. It has attempted to breakout 6 times so far and has failed each time. It can only chew the Bitcoin, for so long...

BDG

On the 4 hour chart, the 150 SMA and the 200 SMA have formed a top and bottom of the sandwich with the Bitcoin in the middle. Several attempts were made to break out to the upside (150 SMA) and failed. Several attempts were made to break through the bottom 200 SMA, and it finally succeeded today. This break out was preceded by the price falling below the 21 EMA...