MoonTrader

MoonTrader

This is the kind of "slow uptrend" we get when the market is preparing to break out of of a long term downtrend. Price isn't moving very fast, but that's a good thing. The volume tells me that the market is done with its downward consolidation for now. The market is gaining momentum, as it has broken 2 of the intermediate term downtrend lines, a sign that...

MoonTrader

BTC is at historically important levels right now. One of two things could happen now. It could flatline and head to the bottom of this triangle, or it could just break out right now and muhn. Right now, we have a bullish full moon working in our favor as all the moons are starting to line up. You'll notice the last four moons were a pretty reliable...

MoonTrader

We've been in a downward channel ever since the recent high and we've hit the bottom. One more run at $310 is possible, but it's time to exit the channel and test $350 resistance, which I expect to break. Next target is $400 resistance. After calling a profitable short from $380, I stopped all my shorts at $322 and went long at $323. Also of note is that the...

MoonTrader

Ever since we broke the dotted blue mid-term trend line, the volume has been dying off, which is not a good sign. I wouldn't expect any breakouts until after we've retested 330s-350s. IMO, this is a good short opportunity followed by a good long opportunity in a couple of weeks. The market isn't likely to make new highs on this kind of volume with indicators...

MoonTrader

Nice 3 drives pattern here breaking out of a small descending wedge to the upside. Next target is $434 before a pullback.

MoonTrader

The market has now broken every single upward trend line imaginable. The next one is nowhere in sight, so this downtrend may continue for quite a long time. That said, I expect a retrace sometime this week to the upper red downtrend line in the same way it did after the China bubble. Time is running out for the bears to go much lower before an inevitable recharge.

MoonTrader

What's always annoyed me about Stamp is how it eliminates the validating low of my solid red uptrend line that Huobi has, hence the dotted red line. The problem is, however, that dotted red line completely cuts off the $339 low in April. I see a lot of chartists leave this one off as if it doesn't mean anything. Well, I think it does, and as you can see here,...

MoonTrader

This is a very important time in BTC history. As you can see, there is a lot of potential either to the upside or the downside once we break out of this triangle. Right now, it seems to be hugging the bottom, but it's clear by now that this isn't just a free-fall. The red line on the bottom is the most important one because the green line I drew doesn't even...

MoonTrader

We failed to make a new bottom during the last bear run, but we got kind of close, which suggests a possible double bottom, kind of like the double top in June, as I've illustrated on the chart. There is also a triangle forming (dotted blue lines) that may determine which way we go in the long-term. Break down and we're headed way down, break up, and we may head...

MoonTrader

A weak pump brought us up about $15, but it didn't last long and is already testing its take-off point. That said, it may move up into the 530s again, but I honestly don't expect that. We have a bearish divergence on OBV and weak volume still. Indicated by the red moons, you can see where the 3 full super moons in a row that we have had this year (quite an...

MoonTrader

Taking a look back in time, we see that the h&s at $683 played out like it was supposed to and we have established a long downtrend since then. The current downtrend is simply too steep with seemingly nothing driving it. That said, we have to give the right shoulder time to play out since it is gathering steam to break this downtrend.

MoonTrader

Bitcoin had a nice little run, but it appears have lost steam. The yellow trend line I drew looked a lot cleaner on wisdom for some reason, but I drew an arrow to where it appears to have been broken. The second green arrow points to where the price retested 500 and failed, indicating there is more down to come. During the last full moon, the price dropped...

MoonTrader

Pretty simple. The next area of resistance is 554. Whether or not we break through that could be a deciding factor in the market. On our side is Stoch RSI on the larger time frames. 12h and 1d are tipping up, but 4h needs a break first.

MoonTrader

Resistance becomes support at 524. More downside needed to give bulls the advantage. We may see a rebound at the 61.8% fib retrace from the low of about $340 to about $470. Target in the $470s. All donations greatly appreciated: 1GKhY5XNamFN77Lnr9pcDmx9AKyhvZT9jN Cheers.

MoonTrader

The 7 1w SMA crossed the 30 SMA for the first time since 2010 in April. It has since re-crossed and looked momentarily like it might cross bearishly again, but the 7 bounced off the 30 and are now diverging. 1GKhY5XNamFN77Lnr9pcDmx9AKyhvZT9jN Edit: sorry for the color scheme :(

MoonTrader

A bullish trend line has formed and will probably resolve within the next 2 days. If it is broken, we may retest the 550s, which will probably not hold up this time. If we do break through the medium-term bear trend, then I would take long positions above 607. A potentially bullish signal is the full super moon on the evening of Aug. 10th. I am bullish-ish...

MoonTrader

Bitcoin is afraid to move right now and seems to be steadily descending into a tight wedge which will no doubt break soon, presumably to the upside where it will meet the medium term downtrend. Indicators look good and a confluence of factors lead me to believe this medium downtrend, too, will break, including the approach of the full supermoon and positive...

MoonTrader

Here we can see that things may look a little bit different this time around, but that nothing is necessarily out of place. We still have 2x7/30 weekly MA crosses and 3-4x10/21 weekly MA crosses in between bubbles, meaning another one isn't out of the question at all. In fact, it simply bolsters the idea that this may be a normal extension of the process now...