My2Sats

My2Sats

Something has to give soon here. We have been watching the weekly and daily charts for a while. Weekly I've had at $10,540 from our prior high back in late October and bulls gave us essentially a double top reaching $10,522 on Thursday. We are now seeing yet another pullback but yet another daily EMA hold. Remember bulls have not lost the EMA support on our daily...

My2Sats

It's been a few weeks so quick recap. Last posting was back on 1/20 from me and bulls had reached $9,195 and were slowly coming back down. I was watching to see if this was the weekly chart consolidating and stated it would confirm weekly was pulling back if the daily chart lost its EMA support. Bulls however held EMA support as shown on this chart. So bulls...

My2Sats

Ok, last chart we discussed the bulls getting above our zone we've had outlined for months on 4 hour chart but zooming out to bigger picture of the weekly chart. We were watching to see if the weekly just set another lower high and anything lower than $10,540 was just another lower high on our weekly chart. Bulls got to $9195 and are currently trending back down....

My2Sats

Alright. Lets jump off last chart where we had finally broken through the resistance zone and we were looking to ideally hold EMA support or at minimum stay above our zone we have kept outlined since October. Bulls briefly lost EMA support but did managed to hold the top of our zone and find support. This has now led to our next leg up which on our 4 hour and...

My2Sats

We finally have some lift off! BTC has had a slow march upwards since the New Year and finally we saw the big push with increased volume come in today around $7600 which gave enough momentum to push through the zone I've had outlined for last few months. We hit $8,000 and have seen a small pullback here. Nothing significant and just cooling off. Would love to see...

My2Sats

Happy New Year! Well we continue the same old story as I've been watching for months now. Back in September or October I was watching for our 7400-7750 range to be our support for a bottom. We had the strong bounce with a nice 40%+ bounce off the support zone. Next came the pull back down and watching if support would eventually cave and then serve as our...

My2Sats

Continued same old news. Bulls cannot get above the resistance zone I had outlined. Bulls cannot keep above EMA resistance. Bulls cannot hold the $7k support we outlined last chart. And now as explained last chart, once $7k caved, bulls would be in real danger of losing their $6.5k support. And here we are finding the bulls trying to desperately hang on and avoid...

My2Sats

Not a ton to update here. Same as for past several weeks. I outlined the major support zone back in September or so where bulls eventually found support and gave for tremendous trade entries. Once it later failed as support it flips to a resistance zone. And thus far bears have done their part in keeping it as resistance. Unable to fight above the zone and bears...

My2Sats

Quick update. We saw the initial pop off our lows and price action getting above the EMAs to then ultimately fail and come right back below. From there we saw our low set at $7080 and the bulls give a nice solid pump yesterday up right to the top of our resistance zone at $7775. They then gave nearly all of it back but technically set a higher low by $6 at $7086....

My2Sats

Sorry for lack of posts last week but hope everyone had a Happy Thanksgiving! So previously we watched the collapse and break down below our initial support zone. From there we were waiting for two things. Bulls to get Above the EMAs and then to begin the stair step pattern up. We were also watching our zone which previously served as support to now become...

My2Sats

Quick update here after the weekend. We've been watching the grind downward with continued lower highs and lower lows, giving us the stair stepping down pattern. Each red line indicates just another lower high formed and BTC keeps sinking lower. We've also been watching our EMAs to serve as resistance. BTC finally got above 12 EMA on 4 hour chart and thus far...

My2Sats

Pretty textbook for BTC. We've been watching this support box since September as a critical area around 7400-7750. BTC tested it in late October and got the tremendous bounce. From there I did not want to see a re-test of the same area as odds just not in favor of the support holding again. Last chart I discussed the glass table and we jumped on it, it held...

My2Sats

Well we've been watching this stair stepping down pattern and BTC stuck under our EMAs for a while now. Ideally did not want to see another re-test of what I outlined as critical support down around $7400-7750 range back in September. We tested it once last month and it held and gave a significant bull move of 40%+. And here we are again giving all of that move...

My2Sats

Quick update. BTC clearly struggling to get any bull momentum and is slowly just stair stepping its way down. As stated last chart, really do not want to see BTC return towards our $7500 support area we were watching for quite some time to be tested. We had the test and it held and gave the nice bull trade but if bulls allow for a re-test again, I would not be as...

My2Sats

Not much to report so haven't been active here in a while. Last chart we were watching the bulls as they flirted around $9000-9200 to see if they'd hold the initial low of pullback at $8917. They tried for a while and eventually caved. The bear follow through was not a ton (3-4% drop) and bulls made one push back above to $9150 before retracing back down. As we...

My2Sats

We waited a few days to let the dust settle as expected. Volume dropped off and price action has slowed considerably. We were watching for a higher low ideally above $8500 last post with 9k being a level to watch. Thus far $8917 is our higher low. From there BTC began entering an equilibrium which did have a bear break yesterday after briefly tightening up within...

My2Sats

Wow. BTC sure provided the most excitement probably all year yesterday. So lets do a quick recap and try and see where things are shaking out. Had our initial triangle BTC was inside for 3 months (end of June to end of September) This finally broke bearish and began the trip down towards what I was calling a critical support zone roughly at 7400-7750 We saw three...

My2Sats

Well that was a fun time for BTC here. Anyone following along, we've had this critical support zone of 7400-7750 for weeks if not months now that I've been waiting for. After a few initial tests at the top of the zone, we saw the test this week to the bottom of the zone. Bears even dipped it slightly below the zone briefly and bulls have defended well and finally...