Bigsky_Crypto

Bigsky_Crypto

Hello, fellow crypto enthusiasts and investors! So with the nice surge higher that we have seen in Bitcoin and most other cryptocurrencies over the last few days, I just thought I would once again publish a chart showing what I believe are important steps Bitcoin needs to accomplish in order to keep up the bullish momentum (Listed below, they are also on the...

Bigsky_Crypto

Hello and thank you for checking out my charts. Although most of my money is invested in the larger market cap. cryptos I do own quite a few other smaller market cap. cryptos also. One of the small cap. cryptos that I am very bullish on is Digibyte. In my opinion, it has been one of the strongest cryptocurrencies as of late, it has shown strength even when many...

Bigsky_Crypto Updated 

I will be watching VLO over the next few days and may enter a bullish swing trade if I like the setup. What I will be looking for is a bounce one more time off of the 100 SMA. For the most part, I usually only focus on pure price action when determining whether or not to enter a trade but when looking at the fundamentals for VLO combined with the recent pullback I...

Bigsky_Crypto

Hello, fellow crypto enthusiasts! Most cryptos saw a nice little pop yesterday with Bitcoin getting back over the $6000 level going from around $5900 to over $6500. I am very skeptical of this bounce though, I do not believe that this is the beginning of a long-term recovery, it could, however, be the start of a short-term recovery. My personal belief is that it...

Bigsky_Crypto

Hello and thank you for taking the time to check out my charts. Once again I am taking a look at the 2013/2014 boom and correction cycle to see if I can gain some insight into how this current cycle may play out in the future. I have said this many times but it is worth repeating, the current boom and correction cycle we are going through is nothing new for...

Bigsky_Crypto

So before I get started I just want to say I hope you are all having a great weekend so far. For today's chart, I decided to take a look at the bearish wave pattern Bitcoin has been forming over the last month. What I found was that both the drops and bounces I concentrated on are pretty symmetrical. I am using the 12-hour time frame and concentrating on drops...

Bigsky_Crypto

I am watching Sonic for a possible bearish swing trade, most likely with options. Because earnings come out AMC on Tuesday I will wait to reassess the trade on Wednesday morning. I was tempted to enter the trade on Monday but feel there is too much risk being in the trade over earnings so I will wait. Sonic is at a strong resistance level, it has been at this...

Bigsky_Crypto

Hello and thank you for checking out my analysis, I really do appreciate it. Before I get started I also want to say I hope everyone has a great weekend, I know I am really looking forward to it here in Lakeside, Montana. Okay, so BTC once again couldn't hold over the $6500 - $6600 resistance zone and is now retesting the $6000 level for the second time in a...

Bigsky_Crypto

So we just saw a pretty nice pop higher in the price of BTC within the last 2 hours, but what does it mean? Does it mean the bottom is in for Bitcoin? Afterall we did come within $108 of the $6000 low set on Feb. 5th (Bitfinex) and it held. We have now bounced from that level but can we be sure this is the start of a new uptrend? Does it signal a time to BUY!...

Bigsky_Crypto

This is a bullish swing trade I am considering entering tomorrow. I am going to watch the markets closely to see how they open tomorrow as well as the oil market. I liked the crude inventories number that came out this afternoon which I believe could help boost oil prices as well as the price of oil stocks. Whether I enter this trade or not will depend on several...

Bigsky_Crypto

This is a bullish swing trade I am considering entering tomorrow. I am going to watch the markets closely to see how they open tomorrow as well as the oil market. I liked the crude inventories number that came out this afternoon which I believe could help boost oil prices as well as oil stocks in the near term. It looks to me like the price is at a decent support...

Bigsky_Crypto

So looking at the Litecoin chart I am also bearish in the short-term (weeks to months). Litecoin is forming a descending triangle with a base at about $110 which has held several times. There is also pretty strong support around the $100 level. The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern which...

Bigsky_Crypto

So from what I see Ethereum like Bitcoin is also forming a symmetrical triangle. Because I see both patterns as being very similar and the outcomes most likely similar I have just copied over most of my Bitcoin analysis. In my Bitcoin chart that I just published, I explained how In most instances, the symmetrical triangle is a continuation pattern which...

Bigsky_Crypto

So first I should say again that longer term (years) I remain bullish on cryptocurrencies. I really believe the technologies behind them are changing our world and will continue to do so for many years to come. Having said that though in the short term (weeks or months) I have to say that the chart patterns I see on at least the major coins and tokens look pretty...

Bigsky_Crypto

Bitcoin, where are you headed next? Over the last four days, Bitcoin has made a nice move higher and after a few attempts Bitcoin finally broke out above the long-term downtrend trend line. So how important is this break above the trend line? In my opinion, it is somewhat important but does not mean it can't still go lower, Bitcoin could still reverse course...

Bigsky_Crypto

I decided to examine a previous boom & correction cycle Bitcoin has gone through to get an insight into how the price reacted over time and also to compare that cycle to the current boom and correction cycle. I was going to call the cycle’s boom & bust cycles but I don't like the word bust, my definition of bust is when something crashes and never regains its...

Bigsky_Crypto

This is another Bullish swing trade I entered on Friday. In my opinion, Exxon is just above a good support area and is due for a move higher. Exxon really hasn't recovered from the pullback it made when the overall market pulled back in early Feb. but I believe that is about to change.

Bigsky_Crypto

This is a bullish swing trade I entered on Friday. NVDA has made a nice recovery from the recent low and is now forming a pennant pattern. I am looking for a break to the upside and depending on how strong NVDA looks I may trail my stop up rather than exiting all at my target.