BitCapJNY

BitCapJNY

Trying to frame potential price action, should BTC about to complete a B wave correction. DXY is looking bullish... a bearish re test of the 21 DEMA would be > 4% positive move. DXY + 1% : BTC/USD -15% a 4% positive move out of the DXY suggests a near 60% correction out of BTC/USD. While this 1:15 correlation loosely fits, it proved useful in mid -late 2020...

BitCapJNY

"B waves are phonies. They are sucker plays, BULL TRAPS, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both). They often are unconfirmed by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by wave C. If the analyst can easily say to himself (or...

BitCapJNY

Large sell off we saw yesterday was very quickly bought right back up. Fundamentals for bitcoin are just WAY TOO STRONG. Previously posted BEARISH CRAB idea -was/is indeed, a valid chart pattern. However, every time it appears that bitcoin is losing steam -sell offs are quickly bought right back up by institutional investors. A hypothesis that I am...

BitCapJNY

Fits within the parameters of a Bearish Crab Harmonic Pattern almost perfectly, and well within the boundaries outlined by Scott Carney (2001) The critical aspect of this pattern is the tight Potential Reversal Zone created by the 1.618 of the XA leg and an extreme (2.24, 2.618, 3.14, 3.618) projection of the BC leg but employs an 0.886 retracement at the B point...

BitCapJNY

Two hours until PA reaches the 80% mark of this Symmetrical Triangle. We'll see if the bulls are still here -may get a fast dip to AGGRESSIVE BUY #2. DXY is NOT looking bullish. This is great for BTC :)

BitCapJNY

Could be a great entry. If BTC can break above this overhead resistance, I see it heading much, much higher. We will see. -JNY 3CandleCollective

BitCapJNY

I couldn't for the life of me figure out what was going on with BTC over these last few days, but there was something very familiar with the way it's been creeping along.. Then after a comment on my previous idea from @ychangsinata it hit me. Duh. (Possible) BEARISH GARTLEY nearing confirmation here on the 4hr. Fibs are almost TOO perfect -keep in mind,...

BitCapJNY

Price action in this consolidation... Double Busted Symmetrical Triangle? .. Bull Pennant? ... Bull Flag?... Complex Inverse Head and Shoulders? Whatever, whoever -is responsible for this incredibly sloppy price action (since reaching a new ATH) has NOT made forecasting these movements a very clear task.. Waiting for some significant volume to determine if...

BitCapJNY

Hope you're all off to a great start to the week. After staring at this dang chart 24/7 since this correction began, I believe BTC is consolidating in this HORIZONTAL TRIANGLE before one last move to the upside. Typically, PARABOLIC moves out of BTC conclude with a blow off top. The horizontal triangle is a pattern that consists of five sub-waves that form...

BitCapJNY

This pattern, the "W" -double bottom is a continuation AND reversal pattern we've been seeing on lower TF since the rally from $3.5K, it was only a matter of time until we started seeing them appear on higher TF ( fractal ). I am BULLISH until proven otherwise. Some (tentative rules) for ID: Entering the “W” Pattern (A - B) The pattern begins at an impulse...

BitCapJNY

My 4hr Trading Plan. CME is closed until 18 JAN 18:30 -thought we might see some more fireworks with the long weekend. DXY having a bullish week -end, leaves a lot open to speculation about where it will resume when trading resumes. The weakness BTC has been showing could indicate a bullish DXY for next week. Even with all of the FED's extra love, it smells...

BitCapJNY

This BTC DOMINANCE weekly chart looks incredibly bullish to me -indicating this ALT boom we're seeing today could be short lived. WATCH YOUR BAGS!

BitCapJNY

The DXY appears to be picking up some steam indicating BITCOIN could be looking at a move to the downside in the near future. You might be thinking, “wait”.. How is the dollar pumping after the FED increased the MONEY SUPPLY by over 30% in the last 12 months?”. I asked the same questions, did a little digging -and the reasons I found are pretty interesting and...

BitCapJNY

The BEARS are hanging around looking for snacks. Don't become a snack. I have buy orders inside the RISING WEDGE pattern, with a planned escape if the bounce doesn't clear the 21 DEMA -and would also confirm the potential for further SIGNIFICANT DOWNSIDE. BULLISH CASE: This could end up becoming a "W" pattern, short term reversal -long term CONTINUATION....

BitCapJNY

Not really impressed with volume, but TOTAL MKCP is climbing back near $1T. DXY is getting a fairly strong bounce and is testing the 21 DEMA -a 4hr close could be rough for bitcoin, so we're definitely keeping an eye on the ol' DXY... Looking at a (min) %1.4 from current 90.25.. Would likely result in a %10 (+/- %3.3) for bitcoin (and GBTC). Bitcoin and DXY...

BitCapJNY

Potential "W" formation forming here. Looking for a bounce at 81.8% FIB RT, followed by a candle body close above the 50% ($34.5) to confirm a "W" bottom pattern and BULLISH CONTINUATION. If PA does not close (1hr min) above the 50% (local) FIB RT, the probability of a move down to support at $19.5 becomes much more likely. A 1hr close below the 81.8% FIB RT...

BitCapJNY

4hr TF fits this bullish structure much better. Market conditions would make sense for this type of price movement -especially with RETAIL FOMO about to hit the exchanges and shut down Coinbase. January 31st. Guggenheim Investments receives SEC approval. This is the kinda blow off top we should expect out of The Corn.. something outrageous and unexpected....

BitCapJNY

Bullish or Bearish? Let's see.