TheCryptobaught

TheCryptobaught

It is an important moment for the long term trend of BTC. Looking at the simple log chart you can see that we are coming to the end of a wedge that was formed between a crucial upward support line in red and the downward resistance trend line in green. If BTC breaks above the green trend line and confirms the line as support, that would be an extremely bullish...

TheCryptobaught Updated 

As mentioned in my previous post, BTC bulls had to make a move this past weekend, which they did, but is it enough? They pushed the price up to around $7150 as shown by the blue arrow. From that point we lost almost the entire weekend's gain in one 4H period. Since this drop Monday morning there has been some upward consolidation, which I have shown in the blue...

TheCryptobaught Updated 

Welcome back to another short-term analysis of Bitcoin! It appears that my area of consolidation marked by the orange rectangle has had Bitcoin hovering around it while we wait to see what happens. A bear flag has formed that looks to have a downside target of my yellow resistance/support line (~$6100). It will be interesting to see how this plays out in the short...

TheCryptobaught Updated 

Bitcoin has had a nice little rally over the last few days, but I am not sold on a bullish reversal yet. Looking at the 1H on the left we see that BTC has created a bull flag with an upward target of around $7650. Directly under that at $7563 is the .786 retracement from ~11.8k to ~6k which has been resistance previously on 3/29. This scenario could potentially...