BTC_SA

BTC_SA Updated 

I haven't posted in a while. Just been a bit busy with life. There hasn't been much going on in the last couple days with the price seemingly rangebound. It seems like Bitmex is trying to push the price down and Bitfinex is fighting it. Most of the move down from $7400 has been started by Bitmex (through Bitstamp). Bitmex futures closes on the last Friday of the...

BTC_SA Updated 

BTC has been showing bottom type behavior for the last few days. The $6k level is holding and shorts are building up. Looking at Heikin Ashi we can also see two dojis as well as signs of bullish reversal. The price might still drop a little but there is much bigger potential for a move up now with a short squeeze and when it does trigger, the price will jump very...

BTC_SA Updated 

So BTC is back in the major big triangle which started months ago. There is going to be heavy resistance at the upper limit, around $7800/$7900, right now. The RSI also hit record levels on a few timescales yesterday so I think there needs to be a cooling off period if bulls are going to have enough power to get higher and break above the triangle. The most...

BTC_SA Updated 

The price action for almost two months now has been fairly repetitive. Drop then make a triangle, then break out back to the top of the triangle and drop again. The only time this rule was broken was in the yellow bubble resulting in people becoming bullish and BTC trading above $6300 for over a week before dropping again. Given how quickly we dropped back below...

BTC_SA Updated 

I've got back in again at $6150. Think there could be an inverse head and shoulder trap set up for whales to offload whilst others FOMO. RSI is also oversold with some hidden bullish divergence and volume has dropped off now. There is also some similarity to a previous area. Target is around $6500/$6600.

BTC_SA Updated 

No trade zone for now but I think we might drop a fair bit to $5500.

BTC_SA Updated 

Just a recent fractal after this last move down below $6k.