First MACD cross of the year on the weekly chart.
3 little soldiers on candlesticks
Trading above 20 and 50 moving day averages
Volume from Korea coming in
Steady growth over the last 3 months indicates disbelief stage on the cheat sheet
On daily chart, bitcoin is up to its old self of defying TA by breaking throw an ascending wedge
After bitcoin's break out of the inverse head and shoulder's pattern, and it's retest of the 0.236 fib, it's probably a fair assumption that we can gain as to predicting bitcoin's future path through seeking guidance from fibonacci's rules and a rudimentary application of Elliott Wave Theory.
We can expect that bitcoin is going to retest the 6800 level to...
Here I’ll provide my insight into what I think it would take for us to enter into a bull market.
On the 10-6-18, bitcoin broke major support at about 7100, which isn’t surprising given that it coincided with a bearish ascending triangle the formed just after we broke support on the 0.236 fibonacci.
However, it seems that bitcoin has since printed several...
As we can see, in the past, BTCUSD has retested downtrend channels after initially breaking out. Given that human psychology is no different to what it was in 2015, this could indicate that it is within the realm of possibility that a sharp stick might print that would allow us to reconfirm the breaking of the downtrend channel in order to bring some bullish...
NEO looking like an absolute beast getting ready to wreck havoc with one foul swoop over the 50 day moving average, while scorching the Fib 0.236 retracement with her fiery breath all while leering at the peasants' psychological support at $75. Run for your lives, sell your portfolios, no one can escape this onslaught!
300 MA = 50(24/4)
ADA has had a significant retracement to the 50% fib level, and if you care to flick over to a ADAUSD chart, you will notice that ADA may have double bottomed at 30c and may now in the process of printing a bull pennant.
Bitcoin is currently finding support on the 25-day moving average (blue) which converges with psychological support. Should we break, the 50-day moving average (green) converges with very strong historical support.
Bitcoin just broke out of a massive bull flag (see link below), and we have historical data which indicates what happens after that.
That said, the...
We can see that bitcoin has once again broken the 200-day moving average, and is dipping down to touch the 300-day moving as it did on the 6-feb, which is also where we are getting massive price resistance. Additionally, we are seeing a series of lower-lows on the MACD. While day traders are busy pulling their hair out, the bulls are getting ready to buy buy buy...