TEXAGG22

TEXAGG22 Updated 

Here is the link, www.cnbc.com To summarize - Wall Street's "first" analyst to track and report on bitcoin (since the early days) says he and his firm are NOT bullish on cryptos and do not expect the a sustained rally any time soon. Why? 1. Lack of retail interest 2. The entire move up last year was a "bubble" driven by fomo centered around "Futures"...

TEXAGG22

I am a EW noob so please excuse any mistakes, I am not saying this pattern will happen FOR SURE but I am just throwing it out there as a possibility to monitor. All the best, Red Boar Note...I apologize if the chart seems squished...you can pull the chart and adjust vertical and horizontal height as needed.

TEXAGG22

I heard someone in chat say "but, but what about Apple!? They recovered and went to ATH after their bubble popped!" and this made me curious to see what exactly did happen to apple during the dotcom bust and thus this chart was born. Summary- APPL hit an ATH around $5.40 and eventually collapsed to $.90 causing it to lose roughly 84% of its value ...

TEXAGG22 Updated 

In the blue I have drawn the bullish scenario and in the Red the bearish case. I personally think the bears will win this one but I am skeptical by nature! Who knows, maybe the bulls will come through and the blue arrows will play out! All we can do is wait and watch. GL and God Bless

TEXAGG22

Regular Divergence on the 4 HR.

TEXAGG22 Updated 

Large Scale Hidden Divergence on the Daily

TEXAGG22

Ok so I just wanted to make a few points regarding where we are at in the bigger picture. A. This has, volume wise, been one of the weakest rallies we have had in recent memory B. Weekly Trend line (blue) still has not been decisively broken C. Long term trend line support (blue) , which was broken in late march, is holding as resistance now D. Based on...

TEXAGG22

I was talking with a buddy of mine about volume and it got me to looking at the volume associated with previous rallies since we began this down trend. I have highlighted the candles where each rally began and this is one of the weakest volume rallies we have had (3rd weakest breakout candle and significantly weak follow through). Now..I know the whales of BTC...

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This time we have volume divergence and traditionally this is seen as a bearish scenario, when combined with a 4 hour TD 9 candle and the clear rising wedge we find ourselves in, I would say that all signs point to a hard correction. However, bitcoin has recently gone against the grain of traditional thinking and I don't see any reason it won't continue to do...

TEXAGG22

Local 4 hour candles are showing highest volume coming on red candles

TEXAGG22

The RSI is showing us lower highs however the price action has been capping off in a similar area, this is what is known and "exaggerated divergence" and price action should eventually follow RSI lower. However, as we all know BTC is highly manipulated...retail investment is dying off so whales are forced to propping up price through long periods of bot scalping...

TEXAGG22

Well it appears we retested a previous support and concluded it is now resistance...interesting.

TEXAGG22

Daily 9 reversal candle, 100 EMA and 200 day EMA just crossed, 50 EMA acted as overhead resistance, another lower high....The list goes on and on boys...will 6.5 hold us up again? hmmm Anyways, there seems to be a large confluence of negative factors arrayed against the bulls, let's see how it plays out.

TEXAGG22

We have crossed out of a major channel and are trying to hold above it. If we can confirm channel has flipped from resistance to support we could be starting to turn bullish however if we fall back into the channel BTC could be trying to form a HNS formation to send us to new lows. Best of luck out there traders, Red Boar

TEXAGG22

Right now we have been getting pretty significant support from the area in white however a bear flag has formed which could prove fatal to local support. If we do break down from support area I anticipate a drop to 6k where we will have a confluence of support from the downside of descending channel and a long term ascending trend line. Either way i think we...

TEXAGG22

I bring to you another case of Bearish divergence this time manifesting itself not in volume but in RSI. The RSI is making lower lows while the chart shows us a higher low...this is a problem for bulls. I hate to keep pointing out bad news and I sure can't wait to be bullish again but for now I remain a bear. Good luck to all and remember this is in no way...

TEXAGG22

Short and sweet, this doesn't seem suspicious to you? Well it does to me...I may be totally out of my depth here but this pump doesnt seem sustainable...BUT I will say BTC is insanely unpredictable and even the best TA'ers on teh planet will/should admit nobody can predict this beast. All TA does is (hopefully) give you an edge over the house. In the end, it's...

TEXAGG22

Don't FOMO guys this is a pump to trap the noobs...don't be a noob This is not trading advice :)