title.
right now $btc is teetering at previous ath, which, in cycles past, was never even tested.
given macro environment, I think this level is lost and we prob visit 12.3k ish.
would prob bid there.
RSI cooked and some high volume (which usually indicates reversal) are the arguments for a bottom here.
Keeping the chart simple on this one.
stay strong, you fiends.
$ADA potentially making a move.
Havent seen anything good from it for a few weeks, but looks to be trying to breakout of downtrend from NOV21 ATH on the weekly.
Big resistance ahead at $1 probably.
Keepin' tabs.
Yeah that doesnt look good.
Rejecting off bottom of rising channel its been in since May 21'.
Expecting some downside.
Careful with your JPEGs.
Want this to reclaim that channel for the sake of my ETH bag.
Obvious cases for bearish PA from here are clearly abundant:
Below 50MA, Macro environment with Russia + Ukraine, traditional markets teetering, etc etc.
Just want to offer a fresh perspective that looks bullish to me (note: I am a biased bull and not a great chartist)
BUT:
- Convergent support from first peak downtrend (yellow) and bull market uptrend base...
Yeah.. so.. not great.
Losing 50MA.
Macro environment is shuttering (albeit, rightfully) at literal war.
No Volume at all.
Below diagonal and horizontal confluence support at 40.6k which is also a pivotal S/R area.
Next areas of interest are $38.8k and, more likely, ~37.5k.
First move to regain confidence is to get back above $40.6k.
Stay safe!
$ETH / USD starting to show signs of life
Down trend from November has been broken (since ~Feb 04)
RSI has room to the upside
Looks like it is retesting 50MA
~$3600 has confluence between 200MA and last major resistance that I see
All good stuff
Still chillin post CPI.
7.5% is absurd though lmao.
Would like to see successful retest of 50MA if we get there.
Happy to burn off some RSI and go again.
Still sittin' comfortably above 50MA.
All looks good still.
Invalidated with daily close below 50MA.
Love you xoxo.
Title says it all.
My boy hurtin.
I'd be short if thats how I traded.
Rejected off of 50MA.
Absolutely no volume.
Below support at ~ $1.187.
Will add a bit in green box (top of green box ($1.08) would be a nice support that has confluence on bottom of the diagonal uptrend lower bound).
Bitcoin seems to be testing the 50MA as support.
Last time this happened successfully was OCT 3rd, 2021.
Price went from 47.5k to ATH.
Lose 50MA, hope for a bounce at 40-42k.
Gets ugly if we get some daily closes beneath 50MA (see NOV 18th, 2021 & MAY 13th, 2021).
GM.
Still looking at $BTC/$USD holdin' $37.3k.
Looking decent so far.
Also, RSI trying to break the downtrend it has been in since OCT 21'.
Added $34.7k as another area of potential support from initial drop if $37.3k breaks.
Note all of the blue deviation areas on the chart, too.
Green box is the ultimate make or break.
Leaning bull, as always.
$37.3k is the first resistance for the way back up for $BTC / $USD.
Getting some good volume there for it, but still clearly below resistance.
Would like to see a base get built right above $37.3k.
Still lots of room below, though. Can't lose $28-$30k.
I am leaning that we reject $37.7k and head down for a bit still.
Think its best to buy dips down to the downtrend breakout.
Bullish if gets a clear bounce off that downtrend line.
Lots of room upwards.
Getting lots of good volume, too.
Load boat heavy at 4.50-4.60 for this thesis.
Might not get there, $6 has showed some support.
Some more thoughts:
Getting hard to defend this beetcorn price action any more.
Last line of support before low 30s I think - MAYBE some support at like 38, but thats not strong. Really good support at $0, though (I joke, I think?).
Notice: last time we approached this area from above (support), we got a mega-bounce.
Last two times we approached this level...
Want to see a sweep low to ~$42k then a bounce up to reclaim 50MA at ~48k this week. Get the leverage out and send it.
Otherwise, looks crap.
Every other solid close below 50MA led to bigger dump. Legacy markets are getting smacked around, too.
On the other side, bears starting to get cocky on Twitter. Sentiment is absolutely horrible. Fear and Greed = 24 =...
