SIGPokerKing

SIGPokerKing

Since mid-March, there have been at least 10 touches and/or closes at 54980 on the 8H, and even more near misses. Let's see where BTC is at 8 pm EST tonight, which is when the current 8H candle closes. As chance would have it, this level is now within $50 of the 50 ema. For now, I'm neutral, too close to go long here, and too close to short.

SIGPokerKing

8H strong horizontal support at 54950 going back to March 9, nine touches or closes precisely at this level. Weaker and more recent support at 54093, so an 8h candle close below this level would likely open the door to more downside into (or after) options expiration. Gotta stay neutral here until I see more clarity, retests and strong resumption's from these...

SIGPokerKing

BTC's ATH and cycle high is 61781 (Mar 13). At its current rate of closure, the pi cycle crossing should occur in roughly 18 days. While the crossing has occurred within 3 days of the prior 3 cycle tops, this indicator was developed and backfit to "work". Thus is it backward-looking and due to lack of data points, has never actually been used to predict a prior...

SIGPokerKing

On the 8H, 54950 is an important level. Since Mar 9 there have been 9 touches from both sides of this line, and several 8H closes almost exactly at this line. The prior two candles closed well below this level, but the candle that has just closed is now above this level, and combined with the 3 wicks bouncing off 53k support on the 8H in this same timeframe, BTC...

SIGPokerKing

As they did yesterday, the pi cycle lines (green, gold) came another $50 closer to crossing, with the gap now at $1134. At this rate, the cross could occur in roughly 22-23 days, and if the crossing indicates a cycle top within 3 days of this occurring, as it has correctly predicted in the past 3 cycles, BTC will be at a cycle top in 25-26 calendar days. NOTE:...

SIGPokerKing

Trading activity has quickly closed the pi lines gap to $1147, and it is closing at roughly $50 day. This implies a crossing in 23 days. If the crossing is as good a predictor of cycle tops as in the past 3 cycles, when it predicted the cycle top within 3 days of the crossing, we will have a cycle top in roughly 26 days. The pi cycle lines are green and gold in...

SIGPokerKing

BTC is annoyingly trading down with the markets today. However, since the Fed announcement yesterday we have still not seen an 8H candle close at a level below the previous ATH of 58354 (yellow line on chart). The current candle will close at 8 pm, and will present a test for BTC. Assuming the market doesn't rally in the next 30 minutes, it will be important for...

SIGPokerKing

After a strong bounce off 8H support at 54950 thanks to the Fed, BTC blew through the ATH of 58354 from Feb 21, and is now coming back in for a retest. A successful retest would likely indicate that we go higher. 4 hours remaining in the current 8H candle.

SIGPokerKing

Rangebound. Obvious 8H short term horizontal support and resistance lines for BTC. Still, I'm not shorting, though Asia/Europe are likely to sell into this Fed-induced pump. Would buy again at resistance as that continues to work.

SIGPokerKing

54980 is clearly a key level for BTC in the 8H timeframe. We have not had an 8H candle close below this level since it broke above during its recent climb, and there are many touches of this level going back to Feb 21, both at support and resistance. The current candle began at 12 noon, and will not close until 8 pm, but until I see an 8H close below 54980, I am bullish.

SIGPokerKing

I have been tracking the pi cycle crossing, which has correctly predicted the top of the prior 3 BTC cycle tops within 3 days of those tops. The pi cycle indicators are the gold and green lines on the chart. While the lines have clearly come much closer to crossing since Jan 1, since the beginning of March the rate of closure has slowed from $80/day to $51/day,...

SIGPokerKing

Continuation of my previous posts on the pi cycle crossing indicator, which has been a very accurate indicator of tops in BTC for the past 3 cycles. This crossing has predicted the tops 3 days or less before the previous 3 cycle tops. The pi cycle gap between indicators (green and gold lines on chart) is now $1,591 and has been closing at a nearly constant rate...

SIGPokerKing

Although it would be logical to believe that BTC is more correlated with tech, in fact lately the correlation coefficients using 3D candles shows just the opposite. This is due to to tech getting rekt and BTC holding up along with the SPX, at least for now. Note that a correlation coefficient of +/- 1.0 indicates a perfect positive or negative correlation, and...

SIGPokerKing

After weeks of trying to break through 50847 on the 8 hr, BTC finally broke through on todays candle ending at 8 pm. Should be up from here barring a continued market meltdown.

SIGPokerKing Updated 

A resistance level as been established at $50847 (dotted red line). Over the past week, several candles have exceeded this level, but did NOT close above it. In fact, they close almost exactly at this level. A close above this level would be a bullish signal, with downside of the current trading range at roughly 40k-43k, which we saw last weekend. Today's prior...

SIGPokerKing

As I published yesterday, the pi indicator crossing has correctly predicted the last three BTC cycle tops within 3 days of those tops. The pi indicator lines are green and gold on the chart, and the gap between these lines has closed by over $5k since Jan 1. The gap has narrowed by another $80 since yesterday, and now stands at $1.98k. At this rate, the crossing...

SIGPokerKing

The pi cycle indicator crossing has correctly predicted the last three BTC tops within 3 days of those tops. At the beginning of Jan, the two indicator lines (green, gold) were $6.7k apart, on Feb 1 they were $4.5k apart, and now they are only $2.08k apart, as can be seen in the graph. Fortunately, they have begun to move more in parallel due to BTC's recent drop....

SIGPokerKing

After spending some time below resistance, BTC is breaking through again. Note that the US futures market is also recovering at the moment.