Trying to Pi my way to a crypto space ship. If you listen to some jackass on the Internet posting charts & wasting his money & you put *your* money where *his* mouth is.. *you* are also a jackass. I have a lot of blood but no tears into crypto.
Bonner & Partners CEO of Research recommended buying into WTI.. it's on the rise, right!
I disagree. Correction is imminent.. buy when it hits a support.. if it comes off it to the plus side! It has yet to have a break into bull territory..it's just been in "going up because nothing is stopping me" mode. Like crypto.
All major stocks, allied Western currencies, and crypto charts are following the same pattern - coming up against a hard 100 MA on the 1D chart.
They all have the same bull trap patterns, major dips and rallies in close proximity.
They all have little bear traps.
They are all poised to collapse within the next several 4H MACD cycles.
I have reverse engineered...
Pretty wild eh! I chose the 3 big dawgs because they have the best data for this, but all the coins move together.
What's more powerful...a death cross or a convergence of MAs with the heavy ones on top and short terms on bottom, anyone?
Still struggling to break to a into a positive Gann fan channel using the lows from current rally. It's in the 2/1 channel from the pinnacle downtrend fan, but that's pretty weak sauce really.
Enjoy.. this chart is created on a UWQLED screen and doesn't translate well to normal 4k proportions but I'll try to drop an image that size...
Trying to figure out of BCH is going to kill the King.
Bottom line... it's pretty hard to tell. They are both trying to target the 200 MA, BCH probably having a slightly higher chance of doing so. Coupled with the fact that BTC (and all mining really) is not nearly as profitable as it once was, more miners may start switching.
Honestly, right now it hasn't...
Bitcoin margin traders have been the primary cause of volatility, it would seem.
What I see here is that for the most part, bears have much less impact on the market than the bulls (I would have thought the reverse!). True, a big bear paw helped knock BTC off the high horse, but the next day bulls started a path of self-destruction. This battle played out for a...
I literally have my money on crashola, but I do believe in the power of Bitcoin as well as network effect. Metcalfe's law says BTC is way over-valued, but hey.. it's the Internet!
See you on one side or the other!
100 MA has just slapped BTC right in the teeth as it cracked the top of the pennant. Will it make it to the 200 MA? It's also converging with the Gann fan 1/1 S&R line set at the pinnacle of BTC price.
The MACD has also crossed on the 1 hour, heading for a 4 hour cross.
It's gonna be brutal.
20/50/100/200 MAs. Right now BTC is meeting Mr. 100 and not far to...
Oh bubble, how tricky you can be!
Anyone notice this is what all crypto charts look like, if you zoom out to the beginning?
In my head, in a very general way.. since the big pop last summer I had determined the long-term sustainable value to be around $2k.
Super efficient & large mining pools require $8,600 price to break even. So, supply will grind to a halt...
It's kind of late in the week for a mad bull run to blow through all the resistance, so I anticipate this week's slow side track to pop pretty hard. That said, it is obvious that an amazing array supports and resistances are converging no matter how you chart ETH & BTC. Whichever way it is about to go.. it's going to go hard. I'm still pessimistic about chances...