EagleView777

EagleView777 Updated 

This is a very interesting chart, in my opinion. It shows the price of Ethereum (ETH) expressed in Bitcoin (BTC). ETH/BTC can be used as a proxy to the entire altcoin market. This is usually expressed as the "market dominance" of Bitcoin (BTC), which you can find on the website coinmarketcap dot com. So, when ETH/BTC goes significantly down, the entire altcoin...

EagleView777 Updated 

The Bitcoin Volatility Index - which is comparable to the VIX - is now at the lowest point in 2018. This is very bullish for the market right now. Low volatility, high short interest, improving fundamentals in the market (like MAs turning up, MA bullish crosses, improving ichimoku cloud, and so on) - these all point to substantial higher prices in the time...

EagleView777 Updated 

i have updated my earlier short squeeze chart, because since today, short interest on Bitfinex is up massively again. So, another (slow) short squeeze is to be expected in the days to come. Bull market rallies feed on short squeezes, it is always an important ingredient. I'm massively long BTC (from sub 6,500). Best of luck with your trading.

EagleView777 Updated 

A sustained, slow short squeeze seems to be going on. Short interest levels have recently been at all time high, similar to 12 April 2018, which saw a massive 1 day blitz short squeeze. But what took 1 day then - or rather just 1 hour - is now a much more drawn-out process. I think the intent of whale market participants behind the current slow squeeze is to turn...

EagleView777 Updated 

I'm calling the end of the 2018 bear market here. It seems that the current narrative for the upturn in the market is the slow short squeeze that is now taking place, and which has great potential. 1. In the chart you can see that we are now probably forming a bullish crossover of the (blue) 50-day MA and (red) 100-day MA – for the first time in 2018. 2. When...

EagleView777 Updated 

I think we may not see a sudden massive short squeeze but rather a prolonged and small short squeeze taking place over days or even weeks. That is the best thing for the market right now, because high short interest is the best plunge protection. BTC price simply won't drop significantly as long as short interest remains very high. In a market that is slowly...

EagleView777 Updated 

Short positions on Bitfinex are now at all time high (ATH), and comparable to 12 April 2018. What happened then was a massive USD 1,000 short squeeze in just 1 hour, followed by almost a month long rally. This is now bound to happen again. How far can we rally this time around (late August 2018)? I think we may test the 200-day MA (orange line), or even the...

EagleView777 Updated 

The 4-hour chart is showing strength, as the price keeps remaining above the 50-day MA, which is now turning upwards (which is bullish). The 50-day MA may soon crossover the 100-day MA again (which is bullish). There is still a tremendous negativity in the market (which is bullish from a contrarian point of view) and there may soon be a huge short squeeze, as the...

EagleView777 Updated 

As you can see in this chart (see the red arrow in the lowest chart), the Chaikin Money Flow now shows the highest (deepest) level of selling pressure in all of 2018. Very bearish. I'm not going short though. I'm on the sideline with 100% cash, waiting for a break-down in price.

EagleView777 Updated 

The BTC/USD short/long ratio on Bitfinex is the highest in all of 2018 by far. Massive short squeeze coming?

EagleView777 Updated 

BTC/USD long interest is very low on Bitfinex, while short interest is again skyrocketing - see the chart above. I'm expecting a big short squeeze again. Plus, long term support for BTC may hold, so we may start to slowly go up long term from here. Therefore, I went 50% long BTC today.

EagleView777 Updated 

Today Bitcoin Cash finally sold off from the very important 0.9 BCH/BTC mark. In the various news media you can read about the fundamental reasons why Bitcoin Cash is going down from here and not returning anymore.

EagleView777 Updated 

Over the last few days - especially since the IPO filings of Bitmain - it has become clear that the price of Bitcoin Cash has only been artificially propped up by mainly one dominant player, which is Bitmain. It has become clear that Bitmain has made a losing bet. The price of BCH cannot be artificially held up any longer, and therefore it will only go down from...

EagleView777 Updated 

In this chart you can see that BTC long interest on Bitfinex is skyrocketing, which is generally a contrarian indicator. Too many people appear to think that the bear market is already over. I think we may however see a substantial drop in the price of BTC in the time ahead, once the present short-term rally has no more legs and the bears take over once...

EagleView777 Updated 

This monthly chart of BTC shows the present weakness we are still in - and which may continue for several more months. Look especially at the recent bearish crossover on the MACD (marked with a red arrow), which happened in June 2018. Starting from mid December 2017 price started moving in a downward channel marked by the blue channel lines in this chart. Since...

EagleView777

In my previous post I showed the MAIN RESISTANCE/SUPPORT LINE of BTC price all the way from the very top in December 2017 until now (July 2018). Now, here I want to show a study with the help of a Fibonacci Speed Resistance Fan, in order to project a possible ultimate bottom in BTC with regards to price/time. So, starting the Fib Fan from the top in December...

EagleView777 Updated 

In this day chart of BTC you can see the main green line, that has acted as MAIN RESISTANCE LINE from the market top in mid December 2017, until it started acting as MAIN SUPPORT LINE starting from mid April 2018. From time to time it gets re-confirmed as support line, such as recently in June 2018. So, this green line is clearly a very important line to...

EagleView777 Updated 

This chart of short positions on Bitfinex shows a cup and handle formation (a bullish continuation pattern) and RSI close to overbought. So, short positions are building up towards their recent top around 12th April, which at that time prompted a huge short squeeze. I think that current price action in BTC is a bear trap and that we may see another another short...