𝙏𝙃𝙀 𝘽𝙄𝙏𝘾𝙊𝙄𝙉 𝙎𝙆𝙔 𝙄𝙎 𝙁𝘼𝙇𝙇𝙄𝙉𝙂. Yesterday, a lot of people discovered a secret about Bitcoin... It is one of the most volatile assets you can invest in. But that's why the trades are so juicy here. Yesterdays 30% drop is tomorrow's 60% bounce. Nothing goes up forever, so you can't have one without the other. But, where are we in the overall trend of Bitcoin? Is...
𝙀𝙏𝙃 𝙀𝙓𝙋𝙇𝙊𝘿𝙀𝙎 𝙏𝙊𝙒𝘼𝙍𝘿𝙎 𝘼𝙇𝙇 𝙏𝙄𝙈𝙀 𝙃𝙄𝙂𝙃. ETH has been lagging behind BTC recently, and is yet to breach it's 2017 high water mark. But the last few days have seen a significant explosion in value as it pushes closer. RSI is at it's highest point since August 2020, though, so that also must be accounted for. #crypto
𝙈𝙐𝙎𝙆 𝘽𝙀𝘾𝙊𝙈𝙀𝙎 𝙒𝙊𝙍𝙇𝘿'𝙎 𝙍𝙄𝘾𝙃𝙀𝙎𝙏 𝙋𝙀𝙍𝙎𝙊𝙉. Price rockets past resistance at $800; but RSI is at it's historic peak. Not looking to sell, but not looking for entries.
𝙄𝙎 𝙀𝙏𝙃 𝘼𝙄𝙈𝙀𝘿 𝙁𝙊𝙍 𝙏𝙃𝙀 𝙈𝙊𝙊𝙉 𝙊𝙍 𝘼𝙉 𝙀𝙑𝙀𝙉𝙄𝙉𝙂 𝙎𝙏𝘼𝙍? Price is skyrocketing, and increasing in volatility. But volume hasn't really moved at all - so is this just a sympathy play against BTC? Bulls need to step up and put their money on the line if this trend is to continue. #crypto
𝘽𝙏𝘾 𝙄𝙎 𝙉𝙊𝙏 𝙋𝘼𝙍𝘼𝘽𝙊𝙇𝙄𝘾...𝙔𝙀𝙏. There is no doubt that the price of BTC has exploded in recent weeks. We saw the price breach above the +3 deviations marker on the macro trend ( >99% of the price data should exist below +3 deviations ), however there was a relatively sharp retraction of price as a result. There is a good argument to be made for an evening start...
𝘽𝙏𝘾 𝙑𝙊𝙇𝙐𝙈𝙀 𝙎𝙏𝘼𝘽𝙄𝙇𝙄𝙕𝙀𝙎, 𝙇𝙀𝙏𝙎 𝙏𝘼𝙆𝙀 𝘼 𝘽𝙍𝙀𝘼𝙏𝙃. Right now we are seeing an inner candle, and a slightly overbought RSI. The short term trend has been increasingly bullish - almost parabolic. This is a hold and wait position. #crypto
𝙏𝙀𝙎𝙇𝘼 𝙅𝙊𝙄𝙉𝙎 𝙏𝙃𝙀 𝙎&𝙋 - 𝙄𝙈𝙈𝙀𝘿𝙄𝘼𝙏𝙀𝙇𝙔 𝙁𝙇𝘼𝙈𝙀𝙎 𝙊𝙐𝙏. After such a huge amount of volume ending last week, everything needed to settle down a little. Nothing to see here. Go enjoy your holidays.
𝙄𝙎 𝙉𝘾𝙇𝙃 𝙎𝙀𝙏𝙏𝙄𝙉𝙂 𝙎𝘼𝙄𝙇 𝙊𝙍 𝙍𝙀𝙏𝙐𝙍𝙉𝙄𝙉𝙂 𝙏𝙊 𝙋𝙊𝙍𝙏? Far from being a clean trend, however there has been a solid pump on this chart since vaccine news hit. This week, there have been scattered reports of a 'new' strain of COVID found in a number of countries. Not great... As a consequence we are seeing some traders looking for safe havens; however the reality is we are...
𝙒𝙄𝙇𝙇 𝙁𝙀𝘿𝙀𝙓 𝘿𝙀𝙇𝙄𝙑𝙀𝙍 𝙏𝙃𝙀 𝙀𝘼𝙍𝙉𝙄𝙉𝙂𝙎 𝙀𝙑𝙀𝙍𝙔𝙊𝙉𝙀 𝙒𝘼𝙉𝙏𝙎? Price has slightly dipped below the channel but not in any tangible way. The volume has been quite flat; and the RSI is dropping off - but if the next cycle of earnings are strong there is lots of opportunity on this chart.
𝙌𝘾𝙊𝙈 𝘿𝙄𝙑𝙄 𝙃𝙄𝙏𝙎 𝙏𝙃𝙀 𝙍𝙀𝙎𝙀𝙏 𝙎𝙒𝙄𝙏𝘾𝙃. The RSI has reset back to it's historic rally point; and the price is just above the lower bound of the rising channel. This has been surprisingly steady since March.
While I still think it's more likely that there is a pullback, a breakout should provide at least +20% upside. Buy on breakout. #crypto
𝙄𝙎 𝘽𝙄𝙏𝘾𝙊𝙄𝙉 𝘼𝘽𝙊𝙐𝙏 𝙏𝙊 𝘾𝙍𝘼𝙎𝙃? Short Answer: No. Long Answer: No, but... If we look at the 2013 - 2017 BTC cycle; at the point of returning to it's 2013 high watermark - the rally slowed and eventually retraced back by almost 30%. This was the last pullback before the price broke through to new highs. Importantly, there was another pullback which resulted in a...
𝙄𝙎 𝙇𝙄𝙏𝙀𝘾𝙊𝙄𝙉 𝙇𝘼𝙂𝙂𝙄𝙉𝙂? While BTCUSD has been on an insane run since March, LTCUSD - which has traditionally rallied in lockstep - has been somewhat of a laggard in comparison. This recent impulse, however, has been quite similar between the 2 charts. In the last week, there has been a significant increase in volume on the chart, so this is one to watch and maybe...
𝙄𝙎 𝘽𝙉𝘽 𝙍𝙀𝘼𝘿𝙔 𝙏𝙊 𝘽𝙊𝙐𝙉𝘾𝙀? Binance's own coin has a good history of being incredibly stable in it's trends. Whether that is reasonable in a rational market is a debate for another day. Today, there is plenty of reason to expect a bounce to happen here. And one reason it won't... We can clearly see this has been a good strong trend since April, with very little...
𝘼𝙍𝙀 𝘽𝙄𝙏𝘾𝙊𝙄𝙉 𝘽𝙐𝙇𝙇𝙎 𝙃𝘼𝙉𝘿𝙎 𝙂𝙀𝙏𝙏𝙄𝙉𝙂 𝙐𝙉𝙎𝙏𝙀𝘼𝘿𝙔? $20,000 is undoubtedly going to be a tough price to break through; however it will be even harder with trading volume decreasing. We are at the base of the short term rising channel right now; however there is plenty of reason to expect us to return back into the larger trend we have been seeing since March... The RSI...
𝗜𝗦 $𝗧𝗦𝗟𝗔 𝗥𝗔𝗟𝗟𝗬𝗜𝗡𝗚 𝗔𝗛𝗘𝗔𝗗 𝗢𝗙 𝗕𝗘𝗜𝗡𝗚 𝗔𝗗𝗗𝗘𝗗 𝗧𝗢 𝗧𝗛𝗘 𝗦&𝗣𝟱𝟬𝟬? Not much to discuss here from a technical point of view, however the new week has started exceptionally strong for Tesla. Outside of Musk moving to Texas, the only real news is the S&P500 update next week. I don't generally believe that getting added to the SPX is going to change the world, but if enough...
𝗪𝗼𝗼𝗹𝘄𝗼𝗿𝘁𝗵𝘀 𝗽𝗿𝗲𝗽𝗽𝗲𝗱 𝗳𝗼𝗿 𝗮 𝗻𝗲𝘄 𝗿𝗮𝗹𝗹𝘆? There is substantial history here with the price holding this trend, with the COVID fear leading to a temporary break of the top side, but generally it has been quite stable. The RSI is hovering around it's low point - just above oversold - as well, which is a good indicator of health of the trend. Volume is down, however...
𝗕𝗧𝗖 𝗢𝗡 𝗧𝗥𝗔𝗖𝗞 𝗙𝗢𝗥 𝗛𝗜𝗚𝗛𝗘𝗦𝗧 𝗠𝗢𝗡𝗧𝗛𝗟𝗬 𝗖𝗟𝗢𝗦𝗘𝗥 𝗘𝗩𝗘𝗥. Everything is looking relatively strong for BTC right now. RSI has recovered from it's reset and the price is on track to close at both it's highest monthly & daily closes ever. We also pierced the high water mark today as well, though it looks like we will close below this point unless some serious bull volume...