LUNA holding the 200 day MA pretty nicely, consolidating on the weekly. Might I say it could see a new ATH this year, unless we have to revisit $22 first. Short to midterm bull, still bearish on the overall market and trend. Looking for that dead cat bounce rally.
Zooming out to the 4 hour, and drawing the falling wedge would indicate a potential now to retrace and retest the wedge. Should this bounce with volume, $61k BTC is not out of the question.
Now with that said, momma always told me not to try catching a falling knife. Especially a pizza knife. Those circular things can really do some damage if handled...
The latest "bull" move seems to have topped out at a nice confluence. Hindsight is 2020.... too. 2022...
- 1.618 extension off the low.
- 382 retracement of the bear move from 69k to 32k
- 12 Week EMA
- What about the 200 day MA?
I'm starting to feel bull, but we'll need to see this retrace with a proper bounce. Lots of indicators suggest an...
My last update on this was overconfident in the downward trendline. I fess up to this shortsightedness. I did end up stopping out. However! What did I learn? This is most important. There is a 1:1 extension on the chart (as seen here) this is now a tricky setup. I have re-entered a short on the 41.5k range, looking to exit half the position when we retest the...
Hear me out. LUNA is at an inflection point and with the crypto market not showing any signs of strength right now, it's hard to be a bull. One must be open to 2 opposing scenarios and have a plan for both directions.
The Bull case:
- LUNA is holding its 200 day MA.
- We have a nice 5 wave pattern on the downside.
- We've made a 786 retracement (and more) off the...
“I’m at first and… first,” said a hysterical Kramer to Jerry.
“What?!” said Jerry, as if he hadn’t heard him though he clearly had.
“I must be at the nexus of the universe!” Kramer exclaimed, bewildered and questioning his reality.
The jig was up, it IS up. Time to decide. Bull or Bear?
I’m on team Bear. What about you.
First point to note: No setup is foolproof. However, past experience and history provides a high probability when you play setups correctly and are strategic with your risk management. From what I've seen, the majority of traders (I'd guess in the range of 60-80%) will lose money trying to trade this environment regardless if playing Bear or Bull. I always...
Been tracking this rising wedge for 2+ days now, filling up shorts. If you've been patient it's not too late to open up your shorts at nicely high prices. Unsure if we go straight to 37k from here, or we correct this few day move for an even larger 1:1 extension before the dump.
Do your own analysis. Are you bull or bear?
Looks like the 3rd wave DID in fact consist of a 3, 4, 5 on the Elliot wave. I am still holding onto this 200 day MA as support theory, while respecting the fib retracement levels at 46901 and 46232.
This would be the 3rd time we test / breach the 200 day MA in the last month. If we hold these levels again and start our reversal, I expect the whale bears will be...
My BTC Bull Hypothesis.
- BTC breached the 200 day MA briefly, and rallied a proper 5 wave impulse. However, the attention to detail is important as we have 2 clear impulse patterns to count here.
- A closer look will show the fib extension targets of 2.618 on the most recent move up, and the larger wave 1 shown with the Elliot wave drawn.
- The lower 2.618...
This daily chart is a beauty setup. Just listed today December 16th on the TSX (graduated from the TSXV) and far undervalued compared to its peers.
- Health Canada licenses, some exclusive
- Strong influencer on regulatory market
- Multiple successful clinical trials
- NO DEBT - and a warchest full of cash
- Some big acquisitions this year, becoming...
EOS is no drama obama when we just look at the charts. Let's dig into it.
- Daily cup and handle.
- Strong fundamentals only getting stronger.
- Widely hated coin.
- Strong community.
- First real DAO.
- Lots of whale action.
- Heavily shorted and almost out of room.
Let the short squeeze cannon go boom! See you up there.
Does history repeat itself, or is BTC just getting tired and the bears are going to have their way with it. You be the judge. Feeling bullish on the current environment and the technicals are screaming good things! The time is now.
#ChartPorn #PerspectiveMatters #SeekingConfluence
My hypothesis has so far played out flawlessly. Have continued to make money shorting. Meanwhile, the thick orange line has proved strong resistance to bounce off. The new additions of White Shoulders indicates a Head and Shoulders playing out right on top of the 200 day Moving Average. Should we break the 200 day again it's a quick 10k move down.