Unable to get a chart posted at time of break down but here we go. Jumping off last chart, I discussed the box (still highlighted here) which was really just our range we bounced within. That being $6345 and $6493. Very easy for scalp traders to long on a break above or short on a break below. I personally do not short BTC so had no interest in the break down...
Guess we all should have taken a week long vacation and come back to BTC stuck at the same spot. Once again, $6000-6500 is really of no interest to me personally. It's becoming more of $6350-6500 now since BTC has been stuck in this range for a week now. I'm surprised this has not had a break up or down yet. If we break below $6350 or really $6345 then it's a...
Last Thursdays chart I was watching a bit of an ascending triangle to see if it caved. It did quickly after the chart posting and we saw BTC fall from $6420's to $6354. This really isn't a big fall but when we have been trading in such a small range, it certainly is noticeable. $6000-6500 continues to remain of no interest to me as I have been stating for a couple...
Well not a ton going on here but figured it had been several days so would throw a chart up. Last chart we had just gone through the Tether mess. Things settled down and well, really just settled. We are trading extremely tight range with not a ton of action. Alts had some nice pumps so personally played a couple of those but BTC itself is just relaxing. I added a...
Wow, what an interesting overnight my time. I am still catching up on the tether news so am sure will hear more info as the day/week goes on. But lets start with charts. Sticking with 4 hour chart from yesterday as the price sat at $6225 or so. They had rejected off 4 hour 26 EMA at $6285 and I was looking for a higher low compared to $6178 or definitely above...
Been pretty uneventful few days since our drop through several supports. I personally have been happy in cash and waiting for things to settle down. This allows RSI's to cool off, moving averages to catch up. Sticking with the 4 hour chart, primarily watching the EMA's, 12 and 26 that are always on my charts. Bulls were stuck under 12 EMA and as it came down to...
Well down she goes. Jumping off chart from the other day. I had stated I was happily in as much of a BTC position as I personally cared to be in. I would be utilizing the $6492 level as my stop loss for majority of position and then had another down at low $6400's. This was just to protect my capital and give for less than a 1% loss from my average entry and...
Well as I was typing and posting my chart this morning, the bulls were making their break. They beat the $6640's resistance and quickly pulled back (upper wick of candle). This is a bearish candlestick and would look for further consolidation. I personally have re-filled again on this pullback and am in as much of a BTC position as I personally care to be at this...
Well we continue to tighten this pattern up. Last chart I discussed a few levels, mainly our resistance which had our triple top of $6640, 6641, and 6642 at it and the bulls trying to form their higher low which the 4 hour chart at the time was setting $6511. I personally did use this as a stop for a small position and then used a much looser stop in case the...
Good evening everyone! We had about 48 hours of nothing occurring since last update. Two charts ago we were watching to see which side caved with the 3 supports in $6400's and 3 resistances in $6600's. The bears won that battle and sent us down to $6399 which is when I entered some positions, using $6320 as my stop loss based on the next support level. We then...
Jumping off yesterdays chart I was looking for either a break down below 3 close supports (6475, 6452, 6425) or a break up through 3 close resistances (6610, 6640, 6642). We saw the break down but it was a weak bearish move with the first break bouncing right off $6452 and giving a small bull bounce before eventually breaking down to $6399. I personally filled at...
Well it's been a few days since my last chart update so jumping off of there. At the time we were sitting around $6635 and I was being cautious as first red flag had appeared in my opinion with a slight uptick in bear volume. We then saw some follow through to the downside which dropped BTC to $6452. The bulls did hold $6320 which is a key level on the daily chart...
Jumping off yesterdays chart. We continue to follow the pattern as expected. Yesterday we watched for brief consolidation and then wanted to see the push up towards our next two resistance points of $6777 and $6823. Bulls barely got above the first and topped out at $6787 before heading back down. Currently $6570 appears to be our newest higher low....
Jumping off yesterdays chart we saw the pattern the bulls needed! Yesterday I posted: "They are currently back and battling the $6400 area. In order for the bulls to regain the upper hand, they need to form a lower high compared to $6655, a higher low compared to $6320 and then look for the higher high" From there we saw the bulls travel to $6537 to give the...
Jumping off yesterdays chart. We were watching for consolidation. I was hoping the bulls would hold $6337 and they fell to $6320. Ideal scenario for bulls for this to have been healthy consolidation to me, was to see $6400-6500 range. Bulls fought for a while around $6400 but ultimately caved. They are currently back and battling the $6400 area. In order for the...
Sorry for no chart updates over weekend but not a whole lot going on anyways in the charts. Last chart, we had hit $6738 and I was looking for the bulls to be topping out soon after that. Bulls got up to $6823 before beginning to consolidate here. 4 Hour chart began forming lower highs and lower lows and has now broken below EMA support. Daily chart is holding...
Well jumping off last couple of charts. Two charts ago we were expecting a high probability of all 4 of our lower supports to crash together and we saw that with BTC bottoming to $6106. With that same crazy hour or two candle span, we ran up to $6511 to establish a 4th resistance point in the $6500's as well. Last chart I spoke about the positive being...
Wow, we had some nice volatility today. And this was the cascade I was speaking of yesterday. Yesterdays post I stated "We have a lot of recent lows from 4 hour chart to be watching including $6208 from today, then $6191, $6177, and finally our low from when the bounce first started on this move at $6116. I would not be surprised to see all 4 of those levels get...