Lot's going on in the markets, Bitcoin is no different. We just got rejected off the 50D MA and the resistance line established back in early/mid February and are attempting to maintain upward momentum. I exited my Stellar position a few nights ago and bought back in cheaper this morning on the dip. Still holding my ETC, and BTC. Considered exiting ETC last...
Bounce off 200W MA. Strong bullish action on the 1D MACD RSI rising consistently with plenty of room for upward momentum. Trillions and trillions of fiat dollar being printed around the world. Global financial turmoil. This is what Bitcoin was made for.
After that nasty sell-off two-weeks ago Bitcoin has held 200W MA and is back on solid ground. Today, March 23rd, The Federal Reserve has stated that they will push for "QE Infinity", which means print USD by the trillions until they feel like stopping. This is exactly what Bitcoin was created for. The purpose of Bitcoin is to hedge against unlimited Central...
After 3 weeks of sitting out and waiting to hit target buy zone, we are almost there. Trend-line support on the 5-year log is just above $7,600, and rising, 61.8% fib retracement sits at $8,250. Again, per my research, no Bitcoin rally has retraced less than 64%, ever, so I'm still eyeing that buy-wall around $8,000. $7,950 is my target strike price, but I will...
After turning bearish for a few weeks I'm back to bullish. We dipped below the 50 day MA on a small head & shoulders breakdown, but quickly recovered. Some strong signals I'm seeing: - 50/200 WEEKLY Golden Cross about to happen (both MA trending up as well). - Break-out of pennant trend-line resistance. - Inverted head & shoulders formed. - Once again testing...
We're full correction mode now, obviously. We've clearly broken the trend-line that we've held since January 2nd, and are in a nasty downward channel. RSI shooting down, MACD 1D bearish cross-over, it's correction time. Been reversal trading the last two days on these bounces, been good, easy plays, clear reversal hammers, predictable resistance areas. I'm...
I exited my position a few weeks ago (mentioned in previous chart) as the silver market was looking weak. The head and shoulders pattern broke down and now we're resting below $18. At this point I'm watching to see if we hold 50D MA and waiting to break the top resistance line of the pennant. If we do that I will re-enter USLV, until them I'm watching the...
Trendline resistance is around $11,200 or so on log scale (CME gap is $11,100 giver or take I believe). But the battle here at $10,500 is real. Strong resistance but still rising support. Strong rally so far, will it end in the usual crypto manner? A parabolic spike and then strong downtrend? I'd like to see a big spike (grand finale) and then retrace to...
Starting off the year great, let's keep it going. This is what I'm envisioning... Key things that must occur for this to play out: 1) We cannot go back and rest on the support at $7,000-$7,500. We must rest around $7,800-$8,200. With wicks testing $7,500-$7,600 region. A sustained sideways action at $7,000-$7,500 creates an identical pattern as to that of...
I definitely don't want to rule this out. Coming from the beginning of this rally on Jan 2nd, the impulses have gone like this: 0 = @ $6,855 on Jan 2nd starting point (the exact bottom I called on Dec 28th) Wave 1 high = $8,461 ($1,600 surge) Wave 2 low = $7,665 ($800 correction (exactly 50% retracement) Wave 3 high = $9,195 (essentially another $1,600 surge...
Short and sweet. Unless they pump more tether into the market between now and Feb 1st this is most likely what we'll see. Look for support in the $7500-$8000 range. Load up in the MOABZ. Then look and wait for Tether injections. If they don't inject and we break south of the 5-year log support the pattern is invalidated, I'll be forced to exit. If they do...
What a great week. Hard to walk away a loser after softballs like that (but it happens). Exited with 42% profits after entering on the 6th of January (see pasts post). ETC was the clear winner for me. I entered and exited multiple times and had great gains. Played BTC, DASH, AUGER, XRP, XLM. Missed the DASH pump from $88 to $140 by 1H (sold right before),...
We lost the momentum yesterday after we broke south of $8,000. A price I would have enjoyed maintaining. Will see if we hold. I've adjusted my EW analysis, assuming that what we saw the last week was simply a "wave 1". (I'd like to hear your thoughts on my EW analysis and see if you have a different POV, we're all learning). Still tapering into the pennant. ...
Well the inverse head & shoulders has played out perfectly. My entry at $6,860, and then stop-loss at $7,795 netted me a 13% gain in 5-days. So now where?! Option #1 - We surge, today (tomorrow at the latest), to $9,000+, break out of the 6-month downward channel and go on a new bull rally. Option #2 - We break down to somewhere between $7,000-$7,700 and hold...
So the inverted head and shoulders I was looking for since Dec 23rd is so far playing out perfectly, albeit I predicted the pattern to take a few days longer to form. We bounced exactly off the trend-line support at $6,860 (on Coinbase Pro), a trend-line that has held for 5 years and immediately formed a bullish engulfing candle which closed to show some...
Silver looking good as we head into the new year. Double bottom back in 2018, with another low test in June of 2019, establishing higher low. Bearish bat formation played out but correction stopped between 50% - 61.8% fib retracement, indicating a possible 1,2,3,4,5 EW surge. RSI in upward channel on the 1W. MACD turning bullish on 1W indicator. And oh...
Lots to talk about with Bitcoin . Most notably, we just broke north of the local downward resistance channel that we established about a month ago, and have begun to make our way back to $8,000. However resistance is proving strong in the high $7,000 range and we keep getting rejected. No surprise given recent performance. However if we stay above the local...
Bitcoin and other cryptos had a solid rally this morning when Bitcoin wicked sub $6,500; that triggered a relatively massive order pool as there were many buy-orders around the $6,400-$6,500 range. The rally stopped just shy of $7,500 as there are also significant sell-orders at that price level as well. Regardless of all that, we're still in the same down-ward...