SkyBottom

SkyBottom

Above you see the dogecoin / btc weekly chart from 2015 until 2019. Interesting to see is that once and a while a bubble is popping out (mega bull run) from nothing and nowhere ... then bursts (bear period). Going back to were it belongs. Same is happening with bitcoin towards real currencies like USD, EUR and YEN. It inflates and deflates. Bitcoin and any...

SkyBottom

Hi traders hope you are well, Bitcoin broke the 6500 level, the level I thought would cause a trend reversal. Instead real FOMO and greed kicked in and a lot of money is flowing in the crypto market! The breach of the psychological level 6000 has turned many in bulls and the herd is following. A lot of investors out there are thinking now we are in a bull...

SkyBottom Updated 

The monthly chart doesn t need to much words. Just some explanation. The white lines connects the previous top with the bottom of the next bull market and bottom of the next bear market. If bitcoin follows the same pattern then this means that the real bottom of bitcoin has still to come. It took bitcoin only 8 months to reach top 2 starting from top 1. From top...

SkyBottom

Hello everybody! I am here again with some update. To my surprise bitcoin broke relatively easy through the psychological resistance of 6000 dollar. The resistance zone 5750 - 6000 was obviously not able to reverse the trend. Demand simply sucked up all the supply. I have almost no doubt in my mind that bitcoin is going to continue to march for the coming days....

SkyBottom Updated 

Hey readers! Bitcoin broke yesterday the resistance line 5784 which is a huge accomplishment! Some of us don't understand the importance of this line. This was the lowest point in the whole bear market of 2018! And this can turn into support again! What to watch in short term? Tommorow will be an important day to see which direction Bitcoin is going. If bitcoin...

SkyBottom

Hey peeps! After some study of the chart in bigger time frames I discovered something. A repetetive pattern. And it is quiet interesting! I came to the conclusion and I am very confident that the bull trend is going to end at around USD 6500, from there the trend will reverse! For sure you are asking yourself right now why this weirdo is pointing to this number?...

SkyBottom

During the bearmarket bitcoin tried three times to breakout the EMA ribben but failed miserably. A 4th breakout happened today but will it stay this time above the ribben? If the price of bitcoin stays above the ribben for several weeks then we can safely say we are in a bull market. However this scenario, without testing the bottom for a second time, is very...

SkyBottom

Update and another scenario but almost same outcome as my previous post. If bitcoin is unable to break 5773 in the coming 48 hours then it is possible that the price stays in the ascending broadening wedge. 1. If so I will look for a buy around the 5350 level, bottom line of the wedge. If price doesn't sustain at that level and breaks down I am 100% going to...

SkyBottom

Hi peeps, Update of price action today. I expected a head and shoulders pattern but instead it seems an ascending broadening wedge is forming with higher tops and higher lows. This is in fact bullish. I start to change my mind about short term and being neutral at this moment. My view in medium and long term however is still bearish! Since bitcoin is close at...

SkyBottom

Hey guys! I hope you are doing well? I would like to talk about timing a trade. I lost a lot of money in the past because of not timing my trades on a proper way while I was correct about the direction of the trend. Timing a trade is of the upmost importance. I would even say the most important! When do I buy? When do I short? When will I go long long long!?...

SkyBottom Updated 

Hi traders, Quick update. Clearly a right shoulder forming right now. on the chart. I don t expect sudden volume that will break the resistance zone at 3650. Instead very probable that the price will drop again in couple of days to 4900 - 5000 zone (neck line). A last small bounce, maybe sideways action and then eventually a break of the support line. Would be...

SkyBottom

Hey Guys, Most of us are wondering how to recognize the start of a real bull market. Well one of the most important thing is VOLUME. Analyzing the candles can also be an indicator. See daily chart bitcoin 2014 - 2015. 1. The corrective wave is accompanied with a decrease of volume in April 2014, a sign that the uptrend is topping out and going down. Even...

SkyBottom

“And there will be signs in sun and moon and stars, and on the earth distress of nations in perplexity because of the roaring of the sea and the waves, people fainting with fear and with foreboding of what is coming on the world. For the powers of the heavens will be shaken." Hi folks! Hope you guys are doing well! Two days ago I read some comment from a trader...

SkyBottom

Hey traders and hodlers! It is funny to see that almost everybody is making a comparision with the 2015 bottom and start of the uptrend. However folks ... think ... honestly, do you really think that it's that simple??? Remember: "the majority is always wrong". Remember: "Only a few percentage of traders get rich". After the big drop in November 2018 a...