Ralphho

Ralphho Updated 

As mentioned last week, there was negative divergence on the price development, but there were no other signals to take action. This changed (a bit) this week. If the $dji and the $spx open lower on monday, this would start to look like a lower high. A good moment to get e neutral position till it makes a higher high. In other words, A cheap insurance to...

Ralphho Updated 

First upwards wave shows 5 waves and was approx $1.5k. This wave is retraced for 61.8% and price development seems ready for the next wave up. Assuming it will have a wave length of around 1.618 of the first wave it should at least reach $9.5k. If the price breaks out downwards this picture will be invalid directly.

Ralphho

$btc showed great strenght/momentum from <$4k to ~ $14 and we haven’t seen this kind of strenght ever since. What does this tell us? The move upwards was most likely the longer current trend and the current downward movement is a correction. This correction reached the 61.8% fib level, but as it’s a wave 2 it could reach new levels. It’s actually not so...

Ralphho

Yes! It’s bullish time ;)

Ralphho

No, it did not.

Ralphho

No, it did not yet. It might could happen in the upcoming days, but with the negative divergence there is no reason to jump on the train in a hurry.

Ralphho

The descending triangle pattern isn’t a really strong reversal pattern, so no need to get out on short term positions. But still, when it breaks downwards it might be an idea to close short term positions and buy back at lower levels.

Ralphho

No. If it does I will change my direction, but so far the situation didn’t changed.

Ralphho

Divergence, top of the triangle reached, s&p and dow which are not aligning, VIXX ultimately low, everybody positive... Red flags al over the place. But yet, if it breaks out I will follow :) But I don’t expect it will.

Ralphho

Holding isn't easy but it's rewarded heavily again today. What a movement in price for BTC. A good moment to stay cool and get back to the bigger picture. - The retracement of the last months was a wave 2 and seems to be ended. - After a wave 2 follows a wave 3, and this is the most powerfull one. We noticed yesterday. - Wave 1 was around usd 11k, wave 3 is in...

Ralphho

I saw several very strong analist publishing articles about new ath’s coming up and the implications of this (bullish sentiment for upcoming years). Nevertheless, when I look at the bigger picture I don’t see this confirmation yet. Will join the bulls directly when the green line is broken, till then I will stay safely on the sideline.

Ralphho Updated 

We just stepped out on time, as it’s alway difficult to not fall in love with a direction. This time it became clear the direction wasn’t on out side and we stepped out accordingly. Now it’s guessing where this decline ends. Current prices have some arguments: - it’s the level of the previous wave 4 - it’s the 61.8% retracement level So let’s see if there...

Ralphho Updated 

I have to amit that this is a continuation pattern... So lowered my exposure and will get back in above 8.200 usd.

Ralphho Updated 

You don’t find many simular situations like Pinterest if you ask me. Very strong divirgence, if it breaks upwards this could trigger a strong momentum.

Ralphho

If it breaks out it’s time to take positions (long or short), but till then I don’t see a need to be in the market. Wake me up when the direction is clear!

Ralphho

Every bear market provides an opportunity to get in cheap. The cannabis market might be on that sweet spot and I am looking for a nice entry point. But first, lets see if this support level holds.

Ralphho Updated 

The price of btc is close to the 61.6% fib retracement level and the AO has reached the zero line. Best scenario from here would be a minor 5th wave of $700 (simular to wave 1) too reach $9k. If the price breaches the AO zero line another sub wave c down will follow, so tight stoplosses at around $8.100.

Ralphho Updated 

Btc is back below $8k and will encounter several levels of resistance (fib 76.4, previous low 7.8k etc). Change it will just break through (it’s btc), but if you want to trade up short term getting in with stoploss at $7.5k would give you a very limited loss and two support levels.