blloyd

blloyd

RSI Divergence, the MACD, the Bullinger Band and horizontal resistance all seem to indicate at least a short term correction is likely. If the 24 Sidereal month EMA which currently sits at $5300 manages to provide support the uptrend continues and will likely take the price to at least $6150 before a larger momentum reversal. Inversely if that support fails the...

blloyd

Confirmation will come as the RSI makes it above 50 on multiple timeframes. At the moment it looks like a bottom with bullish RSI divergence.

blloyd

Mt. Gox BTC were stolen from investors, inversely Tether may have lost USD to government seizure. To get out of Bitfinex or Tether you have to buy BTC. As it turns out that is a lot of extra buying hence the $350 premium on Bitfinex. It is kind of like the premium in Turkey or Iran also not well backed by USD. Likely not enough buying to take the price above...

blloyd

In contrast to the last BTCUSD bear market, RSI divergence both bullish and bearish, have been seen in the majority of medium-term momentum reversals in the last year. I expect the price to stay within the range of this pitchfork. The longer it takes to move lower, the less of a move that will likely be. At the moment a higher low of $4200 to $4400 is...

blloyd

In contrast to the last BTCUSD bear market, RSI divergence both bullish and bearish, have been seen in the majority of medium-term momentum reversals in the last year.

blloyd

Both the RSI and the Fibonacci retracement levels on the way down suggest that OSTK may be bottoming here.

blloyd

Almost all of the short term momentum reversals are accompanied by bearish or bullish RSI divergence over the last year. It looks as though this is no exception. Based on this I believe we will see $4650 before $6000. This would be a sign of a healthy market that is primed for another bull market cycle. I expect this to play out over the next 6 weeks based on the...

blloyd

The 24 Sidereal month EMA provided solid support prior to the capitulation to the $3150 level. Now the same EMA is providing resistance. The bitcoin Bear market is unlikely to end in a single wave above $6000. As in the last bear market the price is likely to drift back down to prior resistance, in this case in the low $4000s or even possibly back to support on...

blloyd

The 24 Sidereal month EMA provided solid support prior to the capitulation to the $3150 level. Now the same EMA is providing resistance. The bitcoin Bear market is unlikely to end in a single wave above $6000. As in the last bear market the price is likely to drift back down to prior resistance in the low $4000s or even possibly back to support on the 72 Sidereal...

blloyd

Look for a set of corrective waves. This sort of RSI drop following bearish divergence indicates that the bitcoin price is in for a significant correction. It could bottom between $4650 and $4410. If $4410 does not hold I expect a test of $4150, if that does not hold $3650 should be the lowest price that one can still trust to hold before looking at lower lows...

blloyd

Look for a set of corrective waves. This sort of RSI drop following bearish divergence indicates that the bitcoin price is in for a significant correction. I expect a bounce along the way before it finally bottoms between $4400 and $3700. If $4400 does not hold I expect a test of $4150, if that does not hold $3650 should be the lowest price that one can still...

blloyd

Look for a set of corrective waves. This sort of RSI drop following bearish divergence indicates that the bitcoin price is in for a significant correction. I expect a bounce along the way before it finally bottoms between $4600 and $4400. If $4400 does not hold I expect a test of $4150, if that does not hold $3650 should be the lowest price that one can still...

blloyd

Look for a set of corrective waves. As long as the lower edge of the pitchfork holds the larger uptrend continues. This sort of RSI drop following bearish divergence indicates that the bitcoin price is in for a significant correction. I expect a bounce along the way before it finally bottoms between $4600 and $4400. It is best to set stops below this pitchfork. If...

blloyd

Look for a set of corrective waves. As long as the lower edge of the pitchfork holds the larger uptrend continues. This sort of RSI drop following bearish divergence indicates that the bitcoin price is in for a significant correction. I expect a bounce along the way before it finally bottoms between $4600 and $4400. It is best to set stops below this pitchfork. ...

blloyd

Anyone who thinks the crypto market is going to come back down hard simply needs to look at the S&P 500 chart after momentum reversal. When momentum reverses this hard, you do not want to be short for long, the trend is your friend and all that. It is folks shorting with leverage and getting stopped out that fuels the parabolic move, it continues as more and...

blloyd

Anyone who thinks the crypto market is going to come back down hard simply needs to look at the S&P 500 chart after momentum reversal. When momentum reverses this hard, you do not want to be short for long, the trend is your friend and all that. It is folks shorting with leverage and getting stopped out that fuels the parabolic move, it continues as more and...

blloyd

During the process of price discovery when making new highs it is important to reference the RVNUSD chart and not just the RVNBTC chart. This is true especially in times when there is a lot of movement in the BTCUSD price as there has been since the breakout from the lows. This chart indicates a price target of $0.15 to $0.16 which is a little lower than the...

blloyd

Anyone who thinks the crypto market is going to come back down hard simply needs to look at the S&P 500 chart after momentum reversal. When momentum reverses this hard, you do not want to be short for long, the trend is your friend and all that. It is folks shorting with leverage and getting stopped out that fuels the initial parabolic move, it continues as more...