Hello my fellow Bitcoinnistas! I just waned to take a few minutes and post this Weekly Coinbase chart for my historical records. I want to look back on it over the next several months to see how it progresses. One of the main takeaways is the obvious trend channel from the time Coinbase began trading through this week. There is a clearly established bullish...
The BTC price is currently in a rising wedge with the RSI trying to break its trend. I am waiting for pull back below $5K before adding to my long position. How much lower? Mid $4Ks. Fibs at 50%, 61.8%, 78.6% not shown on this chart. If we rocket higher from here no worries, I already have my long position. If we go lower no worries I'll just add to it. I'm...
I'm just posting this hourly chart because I'm bored. The green lines are a few of my open buy orders waiting to get hit. I've been long for quite some time and just looking to add a little more to my position. But what if the floor falls out? You might ask. In that case, I'll just buy some more. lol :0) Happy trading.
I'm going to go ahead and call this a pattern confirmation. If we close up here then the bottom is in. We still have some price pull backs? Sure, nothing goes in a straight line. But, even if this drags out for a few more months this pattern confirmation adds to the confidence that we have seen the low of the lows. Can we still do a double bottom type move...
From this daily chart I am seeing a very well established channel for Bitcoin. If you look closely at the red circles you will see that the price is respecting both the upper, middle, and lower parts of the channel. What this strongly suggests to me is that the price will make another touch of the lower part of the channel (green circle) and then continue north...
Let me start by disclosing that I am long. I have been for years and intend to remain that way. Whether this chart pattern plays out as draw is irrelevant to my current position. I just thought I'd share this chart to let others know where I MAY add to my current long position if the opportunity presents itself. As you can see the daily chart is forming an...
It looks like we will confirm the bottom soon with an Adam and Eve Double bottom pattern. A break of about $4240 should be the confirmation. Study the description and pictures in this link and tell me this isn't a perfect match. thepatternsite.com When it breaks North the minimum target is $4970 I'm still long...... Good luck!
Have you noticed how many are still calling for more decline but BTC continues to grind North? It's a tortuous pace but North nonetheless. Along the way Bear Traps are being set to help confirm the group think assumptions only to take it all away again. This is the same thing that was done to the Bulls over and over on the way down for those who simply could...
I know, I know, that is trading blasphemy! To even suggest that one has a position without a stop is just crazy right? But does that still apply to Bitcoin? If you are so cock-sure that BTC is going to zero or the moon then why have such tight stops? Why keep getting pushed off your position for a loss over and over and over again? The only choices I see is...
Wouldn't that be a hell of a headline? To find out that Billions of dollars worth of Bitcoin Futures contracts were being bought and sold against just a couple hundred actual bitcoins? It could happen. Bitcoin has a finite quantity by design. 21 Million Bitcoins to be exact. Some estimate that as much as 25% were lost before anybody even realized the...
This is a 2 hour look at a new Bitcoin channel. It is pretty much self-explanatory. If the price stays inside the channel we will continue the long climb out and off the bottom. If the price breaks through the bottom of the channel and has a few daily closes beneath the channel there could be more downside to come. If the price rockets out of the top of the...
This monthly chart is a depiction of my longer term expectation for Bitcoin over the next year or so. Of course after the next major rise I am sure there will be another correction but that is a conversation for another day. Right now I am just trying to position myself for the next bull run. Why do I say "I may be early" ? Because as far as my funds currently...
Hello traders, and I use that term on purpose. "Traders" because that is what most people here are trying to do, trade. Even this site is called "Trading View" for a reason. To facilitate trading. The concept is simple: buy something low and sell it high or sell it high and buy it back at the lows keeping the difference as profit. Easy enough right? Those...
This is a rehash of a weekly chart I did months ago. If this plays out like 2013/2014 we should spike to the bottom of the channel, do the desert crossing to the other side of the channel, break North, touch back, and then start the next bull market. This, of course, could still take a few months to complete. I'm in buy and hlod mode and will continue to add...
Using the daily RENKO chart it is easy to see the congestion zones. If the zone we are currently in plays out like the one before it the price should stay above $3420 (bottom of the box). At least for awhile. The clear areas between boxes I'm calling the "No trade zones" In other words if the price breaks $3400 I wouldn't even bother looking for a long...
I closed out some of my long position on the way down and will close out more on the bounce up to return to "trading" mode again rather than "buy and hold" mode. Reason being is the recent volatility in price. Obviously we still have not seen the capitulation, anger, and abandonment of bit coin that will proceed the long dessert crossing that is to come. In 2014...
This is a weekly chart going back to 2014 through today. When the previous trend in 2014 broke a new bottom was established followed by the slow crawl out into the next moon shot. Fast forward to now. If $6K breaks down a similar pattern my develop. A bounce off the $5K area, rejection again at $6K from underneath, then a 50% plummet to around $3K. If you...
I knew that would catch your attention. On the Coinbase daily chart BTC is range bound between $5,800 and $6,800 making a $1,000 range still within a triangle. Many attempts to break $6,800 have failed so far as have many attempts to break the lower bounds. My best speculation at this point is the price will continue to compress towards the apex of this...