Yesterdays chart we were watching the expected tight range of $11,0888-11,585 and potential setup for a small equilibrium. We traded within that range all day and really have traded within a 3.5-4% range for 40 hours now. Volume slows down and really just nothing of interest to traders. We established a lower high yesterday it appears at $11,456 and now this...
We had the bear break on the equilibrium we'd been watching which kept me personally in all cash position and anyone who shorts would have been able to take a nice short trade opportunity on the break. Thus far bulls have been able to defend $11k psychological level with our bottom of this drop at $11,088. From there we watch for a lower high to be set and then...
We got the break of pattern as expected today and unfortunately for bulls, it was not direction we wanted. I personally had stop buys set over night in case the opposite happened but as stated before, these are 50/50 chances so you have your exact entries and if the bears win then no harm done. Opportunities to play oversold bounces but thus far not interested...
This is getting tighter and tighter. Last nights post we were watching to see if bulls could break the pattern bullish or if they'd have yet another lower high. The latter happened as bears defended their key level by $38. Those not familiar with equilibrium's, I have tried to outline it with the lines drawn from each lower high and higher low (red and green...
Quick update. Been patiently watching this 4 hour equilibrium tighten up. Some extremely close defenses and bulls now pushing to try and avoid yet another lower high. This could break bullish tonight and any minute now or if another lower high is set we will watch the tightening range into tomorrow Just My 2 Sats!
Wow, what an incredible 6-7 days or so for this swing trade. Those in positions have been very happy and I continue to say, Alts are NOT the place to be. I've said it multiple times over last several weeks. Alt/BTC pairings for 99% of them are just getting destroyed. USD value may be increasing on many but only because BTC is running up the price but people would...
Those trading have been very happy the past few days as BTC chart has been extremely nice to the technicals. Last chart I had mentioned I didn't catch the oversold bounce opportunity initially when we went to $9100 area for a trade but had personally entered in at $9700 and was utilizing higher lows as my stop losses. At time of post that higher low was around...
Bulls and bears have put on quite the battle for the last 2 weeks. Last chart we sat around $9550 and I was watching our large range of $9000-11,100. 6 days later and we continue to be well within this range. I was personally looking for some oversold bounce opportunities as well as a possible flush below $9k. We did see the sell off from mid $9000's down to $9108...
Not much to update from a few days ago. We continue to battle within the $11,100 and $9000 range. This is essentially a weekly bar we are within and with this weeks candlestick about to close in a few hours, thought I'd update a weekly chart. Bears may seek to push price down and get a bearish weekly inside bar close and hope for continuation with the new weekly...
Apologize for being absent for the last week or so. Been busy and then had lost internet for a couple of days over weekend. I'm back up and running finally and overall not a ton has happened. Previously we had a low of $8919 marked for where bulls would possibly defend but I still hold our true strongest support is the 7400-7700 range. We fell to $9071 and bounced...
Another bad day for BTC and crypto in general. I personally got stopped out after refilling this most recent position. Minimal damage done since I was able to flip the trade yesterday I outlined in last post but I am now back to cash and more or less just playing a game of patience here. Bulls need to establish some form of support as there's not much support...
We are playing out exactly as expected off of yesterdays chart. I had outlined our box of where I'd ideally put my "bearish glasses" on and begin shorting BTC if I were a bear. I was pretty confident we'd see a lower high form compared to $11,950 and the bulls would then need to defend the low of $9857 and form a higher low in order to begin having a chance at...
Quick update for what I am looking for here. As stated last night when we were sitting around $10k, I was seeking to start refilling positions from when I was stopped out at about $11k average. I have re-filled about 60% of my position in low $10k area and am now playing in my opinion a probabilities game. I am seeking a lower high on daily and feel pretty...
Sorry for lack of updates over the weekend. Last chart I was watching as our 12 EMA failed, 26 EMA held support and offered a short term bounce. My concern was a rejection at the 12 EMA off the bounce and then seeing the 26 EMA failing. Also of concern was seeing the 12 and 26 EMAs move towards crossing. So how it actually played out was the bulls saw a decent...
Continuing with our daily chart here. Bulls saw another red day today and dropped down even lower giving bears some decent momentum as they tried to push price below our most recent higher low on daily which is down at $10,761. Price dipped to $10,933 earlier today which was at our next EMA we watch, 26 EMA. Bulls are showing a fairly decent bounce from there but...
Wow, I swear everyone was so bullish and then today happens and people are panicking as if BTC is in big trouble or something. This is why having a plan and sticking to it is so important, especially in a volatile market such as crypto. Just yesterday as we were making our bull move up towards $13k I stated "Ideally want to see bulls maintain 12 EMA support on...
Not a ton to update here. We saw further continuation last night as we were hoping for to keep bulls happy. Ideally want to see bulls maintain 12 EMA support on daily and really even on 4 hour chart if possible. Bulls got above and stayed above 12 EMA yesterday on 4 hour chart with a test of support down at it today. Resistance from overnight is now up at...
Last chart I was watching the potential of an inverse head and shoulders on 4 hour chart and expecting a break by today if the bulls were going to make it happen. Pattern didn't play out perfectly as it drug out a bit sideways but the bulls finally got some volume and their next leg up. So checking back in on daily chart here, we have our higher low at $10,761...