I find it curious that the BTC-Shorts are approaching the all time high again but the bit-coin price slowly continues to rise. How fast would bit-coin rise if the shorts were not trying to beat it down? How fast will the price rise when these shorts finally cover? The only correct answer in my opinion is that the Bit-coin price will RISE and RISE FAST! The...
This chart is pretty much self-explanatory. There is an inverse Head & Shoulders pattern looking to break to the upside. If you agree, a thumbs up would be appreciated. Thanks!
Contrary to what the pack is saying I have a few reasons to put on a long position now and add to my bit-coin holdings. I'll list them below and leave it at that. Weekly chart volume has increased the past few weeks The price bounced off a long term trend line on the weekly chart (blue line showing on this daily chart) Futures shorts are way over bought almost...
This is a weekly chart (not log) showing three points of an upward trend line. You will notice that volume has also increased over the past few weeks. Is this the beginning of the turn or will the price fall through this trend line as well? I don't know. All I do know is that I went long with 50% of my bit-coin funds at $6,001 If the price continues to rise...
The bit-coin shorts are approaching all time highs again. What can we expect when this reverses? Unless they think they can short it to zero they are taking on a lot of risk.
Many of the dotted lines that used to be GREEN SUPPORT I have now changed to RED RESISTANCE. This is not a chart that looks bullish in my opinion. It has not been bullish for a very long time except as counter-trades in short bursts. The only thing that looks a little bullish is the current dotted green line the price is hovering around. If that can hold and...
Will the pattern repeat? Place your bets, roll the dice, take your chances!
Bit-coin is in a tight spot. As you can see on this chart it is currently squeezed between strong resistance and strong support. Is bit-coin ready to rally? Are all the planets aligned for such a thing? Or, is bit-coin setting up for more decline? Well, if market sentiment means anything I would have to guess further decline. Obviously from the chart the...
Nothing in-particular to point out on this chart other than the idea that it is time to ACCUMULATE. What do I mean? At some point bit-coin will bottom and at some point bit-coin will shoot for the stars. Will you catch the exact bottom? Probably not. Me neither. So here is my plan.... I'm buying and holding, no stop, small fractions of bit-coin every time...
I don't know what is going on today but things are getting really screwy on the charts. This is a 2 hour look at a Coinbase chart. Bit-Coin touched resistance again (red dashed line) and now the chart shows a gap down. I can't remember ever seeing a break in the chart like this. Maybe on a much lower time frame like minutes but not in the hours and I don't...
I made a peculiar observation while looking at the charts this evening. Everybody looks at the price for waves, support / resistance, fibs, etc. etc. etc. But while looking at the daily Stochastic RSI Indicator I noticed that it has basically flat-lined. That seemed odd so I went back as far as I could to find something similar. I could only find one similar...
My new target for the old and new H&S is approximately $6750. From $6800 to $6700 is where I will try to scale in a short term long position. We'll see.... I'll change if the situation changes.
Are they serious? We're going to spend the past two days dancing around $6900 while so many talk of $6800 as the next buying opportunity? Then we dip $50 bucks or so, never even hitting $6800 and that's supposed to be the BIG TURN? I'm not buying it. Literally, I'm not buying it. This chart show another look at the inverted Head and Shoulders Neckline. It's...
I'm not much for the Head and Shoulder pattern because I've seen too many fail to play out as expected. However, this little H&S may be the the justification for getting us down to the $6700-$6800 area. The Target for the H&S is in the blue box and my buy orders are in the green box. The orange horizontal line bracket the top and bottom range to the left of...
I think this chart is self-explanatory. It's kind of like Charley Brown, Lucy, and the football she keeps jerking out from under him. Is this time different? It sure doesn't look different when I compare it to the two previous moves. Combine that will all the other long term analysis and it always seems to point in the same direction. $5K give or take a few...
Just posting this chart for fun to see if the target gets hit. Buckle up!
I've been trading in and out for the past few days trying to raise more cash for an eventual long buy at much lower levels. I'm still convinced bit-coin will reach down to the $5,000 area and maybe even pin lower or make a V bottom capitulation move down there. This chart shows just one way we might get to the $5000 target. I think we are currently making up...
Now that bit-coin is taking somewhat of a break so am I. I pulled back to the weekly time frame to take another look at the long term trend lines. I drew two triangles from around 2014 and a current triangle in 2018. Very similar. I also drew a channel to capture the lower trend line, mid trend, and upper trend line. As you can see the current price is still...