The_Cobra

The_Cobra

Note: Reupload due to setting it to private. Sorry mates! We see some buy pressure, likely being fueled by profit taking of shorts. Due to the high number of shorts on Bitfinex, we may see some squeezing occurring fueling it in the near future. After that we need to be aware of the FOMO stage to reload our shorts. We are still in bear market, and trend is still...

The_Cobra Updated 

We are trading in a narrow range, not much to expect here yet. Observations and NEWS: Volume is at an all time low, as I see some indications of consolidation. I have noticed on GDAX/Coinbase, some heavy buys on bitcoin, during attempted dumps over the last couple of days. The Tether situation seems to have normalized, however we are seeing it around 97 cents....

The_Cobra

Comment: Update 10-13, 17:36 UTC The 4 hour Stoch (100) indicates a limited dip within the next few hours. RSI will likely limit the dip, as its currently low (35~)and rebound. Supporting bulls, is heavy buy volume on the last 2 wicks that attempted 6150 and below. Bears: If we are going to break support it is likely to happen here. Bulls: This would be a great...

The_Cobra Updated 

Hi fellow guys. I warned of this drop in the Trollbox and posted my position as short at 6530 as some of you recall. Sell pressure broke the Triangle here, and we dropped the vertical length of the triangle at the time of the breakage, which leads us to support 6100. This was a pretty clear textbook scenario which also was supported by Stoch and RSI lining up....

The_Cobra Updated 

We are near the breakage of a rising wedge on the 4 Hour/Daily chart. Granted we could see bitcoin push a little higher due to FOMO, but this looks quite bad from a TA standpoint. I am very confident we are going back to bear territory. Its a classic FOMO cycle. Even news outlets and CNBC are in full FOMO mode (and encouraging it) Remember Chase CEO Last year....

The_Cobra

This is an interesting setup here. Looks like a bull-flag forming here on daily. Also interesting is the Triangle formation and appears to be breaking it. Might see some moves up, (perhaps 10-11K?) then a possible retrace back down to the 6900-7250 area. I am not giving a time-frame, because its Russian Roulette with crypto, however, a lot of positive stir...