A conservative trader shoould wait for a confirmation break of the neck line before shorting, i personally am already building a position. Do not trade on chart patterns alone as they are historically unreliable. However this set up seems juicy, lets see if it plays out or is this just a fake to trap bears? Good luck to all, Red Boar
Down, down down. I will change my Bias from perma bear to neutral if we close a monthly above the 55 ema. Good Luck friends and remember to pack sunscreen, Red Boar
As you can see we have run into significant resistance and it is why the rally has stopped (for now). If Bulls can push above the resistance line, the 50 EMA and close a daily above 130...I will jump on the bull train. Until then, I remain a bear. All the best, Red Boar p.s. Please leave comments and charts below, would love to hear from you!
Long Term- The entire crypto market continues to hemorrhage cash as the air is slowly let out of the massive PND crypto bubble. I believe ETH will continue to underperform Bitcoin as well as Gold and Silver. Mid-Term- Ethereum is stuck in a descending channel, My middle term targets are shown below as $80, $32 and $2 (lotto pick), all of which line up with...
Well, It doesnt. Welcome Plebs I am the master of decpetion, the legend of inaccuracy and the pleaser of the mob...blah blah blah something something something...whatever. Apparently some popular dude said the bottom looked like 2015...well I got news for you in 2015 we never consolidated under the 200WEMA...heck we didnt even close a week under neath it. Yes,...
After a highly impulsive move down on solid volume bitcoin has now spent weeks consolidating on low volume. To me, this spells out pretty clearly more bearish impulsivity on the horizon. Above I have outlined my medium term view on how we resolve this bearish ranging. I will most likely publish a smaller term chart in an update soonish. Thank you for reading and...
A quick look at the long term inverted chart really provides some context to where we are overall. Bitcoin has just broken out of a long term descending wedge on the invereted chart, the macd has yet to break the zero line into positive territory but is heading that way with momentum and we are above the 50 month EMA for the first time in bitcoins...
As mentioned in the Title and on the chart Bitcoin is printing a VERY bearish consolidation pattern UNDER the 200 WMA. All I can say to the remaining bulls is WAKE UP! Bitcoin has given you a gift, it has temporarily stopped it's slide, rallied and is nw consolidating. Take advantage of this gift! Soon we are going to print new lows and I pray some of you heed...
Guys, don't listen to the "gurus" who have been saying the "bottom" is in since 6k! Technical analysis IS NOT HARD and in fact very simple. The most consdrvative target of our descending triangle is 1k usd and that is where we are headed at a minimum, I think we will probably get "capituation" in that area and how bitcoin responds at that point will tell us if we...
Short this POS into the ground...you may never (and i mean ever ever ever) get a chance to short her above 150 again. Load up on them shorts now boys and ride her to hell. Red Boar
ETH printing classic bull trap for all the ponzi bulls....If we go above 150 I will admit I am wrong. Until further notice sell the dadgum bounce :). Full disclosure..I will not be taking this trade because I am a degenerate gambler and can not control my use of leverage...I would be liquidated for sure so Instead I am going to max out my credit card and go bet on...
The Gann fan can be a powerful tool, here is a super simple introduction on how to use it. Use the angle tool to draw a 45 degree angle, ideally from a local low to a local top or visa versa, go to your chart settings and lock the price/bar ratio so that when you zoom in and out the aspect ratio stays the same and so to does the 45 degree angle. Draw the GANN...
I am not very good at Elliot wave theory ...at all...but If someone had a gun to my head and forced me to take an overall elliot wave guess this would be it. So, don't hold me to this but I would LOVE to hear some feedback from you guys on your thoughts! I apologize for the crowded chart! Please, if there are any elliot wave experts out there give me some feed...
I am a bear...I love to short everything not just bitcoin...I don't know why but I just enjoy the short trade much more than the long. If this was inverted and a coin or stock was printing this kind of RSI/VOLUME divergence coupled with a wedge...I would be shorting it pretty hardcore, SO that being said I think based on technicals we should see a pump out of this...
Potential continuation HNS shaping up on the 4 hour...we are in a wedge which does imply potential reversal however another leg down with a wick to our target could still play into the overall narrative of a bullish wedge . However, like I mentioned in previous charts a play In either direction here is risky. On one hand we have divergence bullish printed on...
Target 2700 with Invalidation at 3675...3/1 R/R Low leverage needed...VERY RISKY due to divergences and general oversold conditions.
My best guess is we go to the 1.618 and bounce from there...this would be roughly the 2900 area...I am scaling longs between here and there because I feel like we are over due a dead cat and with divergences showing up on all time frames...why not? Trying to play a counter trend is VERY risky and I have accepted this risk as acceptable to me. Overall bitcoin is...
I have been floating the hypothesis for a while that mania surrounding bitcoin and its clear 5 wave bull market was tied to the easy credit enviroment created by global reserve banks in the wake of the 2007-2009 global financial crises. I think this chart is just another feather in the cap of that hypothesis as it clearly shows both bull markets started on almost...