The above chart takes a look at the 20 week moving average price (purple dots) and the lowest weekly close (pink lines). As you can see the current price is currently under the 20 week average and has compressed towards the lowest weekly close similarly to the 2014 bear market. To me this chart suggests that we could have several weeks of floundering around the...
Long until I'm not. Good luck everybody.
Starting to the left of this chart you can see the price was rising while the money flow was rising (buying pressure) followed by the price falling as the money flow fell (selling pressure). Then prices up as money flow rose. Now look at where we are today. The price has been rising but the money flow had been declining and has even broken the zero line. This...
And 5 up votes - lol Whatever.
This is an update of my previous triangle charts. I drew the lines a little tighter to now include point E. If this is correct we may push out of the bottom if the bulls do not muster another save.
"One more V -Bottom! Just one more please?" LOL - Bullshit.
The concept of this forum is great but the execution is not very useful. The same handful of charts at the top of the pile (right or wrong it doesn't matter) and all other work falls by the way side. This will be my last chart. Posting into a black void is a waste of my time. I'd rather be trading. Good luck in whatever you do.
I've been watching this triangle for some time now. I find it interesting that point E should coincided with the next EFT decision. Will this be the catalyst to finally break North or the catalyst to final capitulation?
Just posting this to see how many people short on the touch back as expected. If charting works at all anymore, the price should continue to decline unless of course this is just another bear trap. Still flat waiting for a better long entry.
I had to modify my last triangle pattern a bit due to the last turn but the end results may very well be the same. I still think the length and depth of this bear market has been too short to be complete. $6800ish appears to be a near term target to be followed by another rejection. An even worse scenario would be a breakout at $6800 to $7K or so followed by...
As a continuation to my previous chart you can see that bit-coin has again failed to breakout. The ABCDE pattern continues to develop. If we do get a bounce and rise to the $6800 area I would first expect some sort of dip to the $5950-$6000 area. Still flat waiting to see how this plays out. If we do get the dip lower I plan on taking a temporary long...
Bit coin failed to rise about this double top on the lower time frame charts from 4 hours on down. This chart is a 1 hour look at the current price action. Currently flat waiting for better prices at or around the bottom of the triangle from my previous chart. Unless of course the price busts through and continues lower. My expectation would be a bounce off...
If bitcoin is ever going to break the $6K area this might be one way it does it. Target around $3.3K
Just follow the line..... We'll call it the "Bullish Broken Star" pattern.
I posted this pattern this morning before the break out and it got a whopping 2 thumbs up LOL. Even a temporary long position would have paid out pretty good. Still long from 6K
If you look at what has been happening with the price of bit-coin lately and compare it to what is now happening to the bit-coin shorts you can probably guess where this may be heading. If a full blow short squeeze develops we should see a significant increase in the bit-coin price. Maybe 1K+ in a very short time. Woe to those using leverage! As you can see in...
This pattern would suggest a continuation North, but I guess nowadays anything is possible.........
Is bit-coin finding new support? You be the judge.... (blue line)