Bitcoinboy

Bitcoinboy

Check out my website for the full analysis of my charts and more crypto content you won't find anywhere else. Links cannot be posted in Tradingview descriptions unless you have a paid account of course. The website is called trendsontheblock(dot)com

Bitcoinboy

BTC forming bearish RSI after move above 10k Small pullback to fib level area between 9300 and 9500 before continuation to the weekly resistance at 10.4k Visit my site Trends on the Block for more in-depth analysis and specific levels to take advantage of my Penny Coin Strategy

Bitcoinboy

According to my last post which is in relation to this one, DJI is the leading factor in determining the short term price movement of btc. That being said, having a negative outlook on the coming conditions of the global economy and being fairly certain we are entering a global depression, btc likely has some more selling to do. A strong bearish divergence has...

Bitcoinboy

Algo has had an amazing start to 2020. Since Jan 20th it has risen 210% from 22 cents to a much higher 48 cents. This has been a relatively healthy paced increase and has the potential to rise even further, but not before a small pullback. All the early entries from the 22-28 cent range will be reaping profits in this range. This can be seen in the AO where it...

Bitcoinboy Updated 

The Fibonacci retracement from the week's high of 10.5k USD is approaching the resistance level found currently at 9755 USD on a low time frame. This means that by close tomorrow we will see whether or not the resistance level can be flipped. A close of any two consecutive green candles above that level in the next 24 hours would suggest the price will rise...

Bitcoinboy

This week has been very volatile for the BTCUSD market, seeing a weekly high of just under 11k. This resistance level at 11k is crucial and the market has been knocking on its door all week. This retest of the support level found at around low 9k will show whether or not the longs or shorts prevail. Breaking this support level would likely result in a run down...

Bitcoinboy Updated 

The double bottom will be confirmed if the candle for today closes below .25USD cents. Retracing to an almost exact amount the previous hill. The double bottom forming here would indicate a drop to .23-.21USD cents. A 10-20% drop from the current price of .25USD cents. The triangle drawn is a Thomas Denmark (TD) style triangle(forextraininggroup.com). It connects...

Bitcoinboy

A double bottom is characterized as a 10-20% drop from a recent price point, followed by a small rebound and another 10-20% drop. This is a typical bullish signal, foreshadowing a coming bullish trend. www.investopedia.com Being a long term signal and the current price, the second bottom wouldn't be confirmed until the price fell another one or two cents from the...

Bitcoinboy

BTC had an infamous death cross back in mid November (red ellipse) and has struggled to keep the 200 day EMA above the 50 day EMA ever since. Recently however the market has been making effort to do just that. There has been quite a bit of volume recently suggesting seller exhaustion may be around the corner. The price is forming a strong upwards channel in which...

Bitcoinboy

XRP is steadily rising within the upward channel constricting the price. The price will likely fall from ~$.225USD to ~$.215USD before continuing on this upwards trend. That is only possible if the most recent green fractal is not followed by two consecutive, lower green fractals. In order to remain bullish one of the next two fractals needs to form at or above...

Bitcoinboy

XRP has confirmed the upward trend reversal. The fractal that occurred on Dec 18th was a confirmation of a bullish fractal trend, for more on that see www.investopedia.com . That fractal is the green ellipse. It was in line with the beginning of the second lower swing low on the Awesome Oscillator (AO). This is a powerful combination of signals especially...

Bitcoinboy Updated 

XRP has been confusing as of recent but zooming out to the fist lower high of the peak back in the crypto bull run of Q4 '17, the trend seems to trace perfectly to this most recent price action, aligning two confirmation markers on the long trend coincidentally just as the price approaches said historical bottom. If this trend is true, it signals a bottom...

Bitcoinboy

A few things to note on this graph; to start, the wedge forcing XRP down since early November seems to be condensing into a breakout position. The green line stems from the last highest high that presumed the downfall from ~.30USD to ~.15-.20USD and the red line from the bottom of the next green candle recorded, a lower high. The green line lacks confirmation...

Bitcoinboy

Seller exhaustion seems to be kicking in and the trend seems to be heading towards it's bottome @ ~0.15USD. There are several points of confirmation on the most recent short term downards trend (orange trend lines) that are in accordance witht he larger over all trend (green trend line). It is also worthy to not that in Sep-Nov of 2018 there was a similar...

Bitcoinboy Updated 

There are two possible outcomes of the recent crash, the same two as always; a further negative price action, or a trend reversal to the upside. The flat EMA200 is not a very positive omen, typically looks like that when it is about to fall off a cliff with the price. The horizontal white line is a historic support line (5900-6700USD) and has been tested...

Bitcoinboy Updated 

The chart shows that there is a bearish flag showing here. A death dross of the EMA50 (red) and the EMA200(white). The purple lines outline the overall trend since the last large price action in the past 1.5 weeks, and the yellow is a confirmation trend from a previous, higher high about 3 weeks ago. The white bar at $9126 is the previous support that has been...

Bitcoinboy

As you can see the white line is the EMA with a period of 26 and the red is an EMA with a period of 9. There is a cross happening in the price between both indicators. For any beginners the EMA is a lagging indicator so it helps to instead look at the momentum of the line rather than the current position, which is flattening. When the price of a crosses it's EMA...

Bitcoinboy

60 minute candles showing a clear retrace of the last pattern. The blue line is the max bottom that will likely happen, and the white line is just my own personal entry. The ellipse is over a small fractal at the bottom of the price movement which likely indicates a positive trend reversal in the short term at least. Notice that the stochastic are also showing a...