Sawcruhteez

Sawcruhteez Updated 

Gold is forming a textbook bull flag as the SPX:USD continues to fall. Target is $1,356 with stop loss is set at $1,323. That will put us in for a retest of the $1,360 resistance. If we can break that then big things could be on the horizon for gold and Bitcoin!

Sawcruhteez Updated 

This is not a recommendation to buy or sell. This is for entertainment purposes only Yesterday I expected us to break up $9,200 resistance. I drew an arrow up to $9,481 after seeing support hold at $8,800 and a bounce from the 50 day SMA. The daily chart had a reversal doji combined with resistance from the 200 day SMA. If I paid more attention to that then I...

Sawcruhteez

In the post from this morning I called for a pullback to $8,800 and then I was watching for support to hold. Now support has held strong and we have a failed bear flag. I expect us to break through the $9,200 resistance and pump up to $9,500 here soon. I am still waiting for further confirmation before entering a bullish position, but all signs are looking good...

Sawcruhteez

Yesterday I mentioned $9,200 as an important area of resistance due to the 0.236 FIB retracement. The bulls made a strong push with market buys but were unable to break through that level. Now we have a shooting star that should cause us to turn back and retest $8,800. If that holds then I would be optimistic about breaking through $9,200 on the next rally. If...

Sawcruhteez

Yesterday I expected a small pullback to $8,400 and then had no idea what to think from there. Today I am impressed with the continued rally and I like what I see out of the volume. There is also a potential golden cross fast approaching on the 50/200 day SMA’s. However i would be very careful going long in this area. I expect there to be a lot of resistance...

Sawcruhteez

Yesterday I was expecting Bitcoin to breakdown to $6,725 and was caught completely off guard when it pumped. I viewed $7,550 as the crucial area of support and once that broke I fully expected it to turn into resistance. I was waiting to short it and we all know how that turned out. I will be staying on the sidelines until I can figure out what in the hell is...

Sawcruhteez

On 3-15 I drew an arrow from $8,100 down to $6,725 and I expect us to hit that target in the next 1-3 days. As it turned out the price ranged from $7,700 - $8,500 for a couple days before finally breaking support. Now I am watching for $7,600 - $7,700 to turn into resistance. That would provide a favorable short sale entry with a stop loss just above $7,800. I...

Sawcruhteez

Yesterday I called for a drawdown to $7,750 and I did not expect many buyers to be waiting under $8,000 this time around. The next area of support that I am watching is $6,750. That would be the fourth touch on the longer term bull trend (green line). To my surprise we dipped below $8,000 and appear to be building support. The battle this weekend will be...

Sawcruhteez

Yesterday i was expecting the draw down to break through support and fall to $6,750. I entered a short and was stopped out this morning. After re evaluating the support/resistance, I really wish I would have given that trade slightly more wiggle room. We are currently testing strong resistance, which is coming from a new potential trend (red dotted line) and the...

Sawcruhteez

Yesterday I called for $7,735 - $7,750 as the area of support, where shorts would be covering and dead cats would be bouncing. The bounce did not get up to the previous support of $8,500 before resisting. I am entered on a short position and the target is $6,750. That is where we will re test the trend support off the longer term bull trend (green line). Stop loss...

Sawcruhteez

Yesterday I remained bearish, but expected a small rally to re test the 200 day SMA. We broke down well before that and the bearish momentum continues to build. The last couple candles indicate to me that we will be heading back down soon. The next area of support should be $7,735 - $7,750 which is where the profit target would be for a short position. Stop loss...

Sawcruhteez

Yesterday I called for a $8,850 re test and today I am liking the double bottom that formed. Support has moved up nicely and the buy volume continues to look good. Now I am expecting the price to test the 200 day SMA right around $9,750 - where the fight would begin. I am still staying away from entering a long until we break the bear trend.

Sawcruhteez

Yesterday I was happily surprised by the rally, then I drew an arrow to $10,000 after we turned resistance into support. Getting shot down before that is bearish. We should get a bounce off of the dragonfly doji at support, but I do not expect it to go far. I am watching for resistance to form below $9,500 and that would provide a good entry for a short. The...

Sawcruhteez

Yesterday I thought we were headed for an $8,400 retest and I had low hopes that support would hold. To my surprise we got a nice bounce and are heading for a $9,400 retest. I expect strong resistance to be waiting based off of the volume we saw last time BTC was at that level (two arrows). Watch for a pullback at $9,400 - $9,500. If that pullback supports over...

Sawcruhteez

Yesterday I predicted that we would range from $9,600 to $10,000 over the weekend. Now it looks like we are headed for a $8,400 retest. Since the price already tested that area as support twice I am not confident we will get another bounce. If price breaks down below $8,300 then $7,850 would be the next area of support. The bearish signs are really starting to add...

Sawcruhteez

I started this specifically for days like today. This is a way to keep myself engage when I have no idea what is going on with the market. I made a commitment to do my best to make a prediction even when I didn't have much to go off. Just keep that in mind! Yesterday I was looking at a diamond bottom forming and went long at $9,800. That was quickly stopped out...

Sawcruhteez

Yesterday I did not like the death cross on the 50/200 day SMA's and how hard we got rejected from the longer term bear trend. I was so frustrated that I said I would not enter another long until we broke that trend. This morning I woke up to a beautiful diamond bottom pattern, which just so happens to be my favorite reversal pattern. After a cup of coffee and...

Sawcruhteez

Yesterday I was looking for BTC to build support off of the blue dotted line and break the bear trend. This morning I was stopped out for the second trade in a row and will be sitting on the sidelines for the time being. The death cross on the 50/200 SMA does not look good. Bitmex going down could have led to an abnormal amount of liquidations. Maybe this is the...