cryptoGats

cryptoGats Updated 

We’ll look at the weekly timeframe checkout where BTC closed last week and what it means. We’ll also look at the daily timeframe and check out the healthy and unhealthy levels. In short, during a pullback, there are places BTC can go down to and can still be considered part of a healthy recovery and places where if it goes there it is lights out and we're back to...

cryptoGats Updated 

It is important to understand that as we go up in the long term, we will experience pullbacks. The area we pull back into is what matters. BTC will look healthy as long as we do not go below the psychological line in the sand, where a selloff starts and does not stop until the price is low or stable enough to create demand again. Please don't forget to Boost this...

cryptoGats

We continue to see all positive signs for long-term traders. A major event occurred this week that suggests we are still on an upward trend. However, it's important to keep in mind that 2023 will likely be a year of sideways movement, followed by upswings, and then 60% pullbacks. This cycle is expected to conclude in the second quarter of 2024. Please take the...

cryptoGats Updated 

As always, interpreting what BTC is doing is relatively simple if you keep the message simple. The main battle is still happening on the weekly timeframe, and this is why: For years, BTC has used the 200MA on the weekly timeframe as support, and we lost that support in June of 2022. In order to have a recovery, BTC has to simply climb and close at least three...

cryptoGats Updated 

This week things are very simple and the stakes are very high. In every significant timeframe, you can see how BTC is at a pivotal point but none other than the 1-week time frame gives us a better view. In this time frame alone you can see Bitcoin price having to overcome the 50MA (yellow wavy line), the 200MA (white wavy line), long-time support (thick straight...

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I've been saying it for years now, exchanges are your enemies and they need more oversight. If there is one that may stand out amongst the pit of global snakes is Binance. As of now, they seem to be carrying the burden of proof. They need to prove that there is a trustworthy centralized crypto exchange. They are no saints but they are ok at self-policing. FTX...

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Events like FTX are baked into the deal. Insiders usually take advantage of such real-world events -- that inevitably happen -- to drop the price even further. This might not have been part of the plan but it was the excuse that the price manipulators needed. The fact that all coins were pumping hard for no apparent reason leads me to believe that the insiders...

cryptoGats Updated 

Looking at the one-week chart you can see where we are and where we've been. This is the only long-term chart that will help you understand what is happening now, today. BTC has found strong double support, for now, it will be hard to fall from here (but anything is possible.) We can go to 12K but it will go back up right away -- almost immediately. This has been...

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BTC has gone so far down that it has put itself under many resistance points. For Bitcoin to go up, we'll need two types of rocket fuel: Institutional and retail investors. Having said that these are the resistance point BTC is facing: 1 - We are for the first time ever under the 200 moving average within the weekly timeframe. 2 - Many households have depleted...

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If BTC closes tonight below the white line that's trending up it will indicate that this move upwards is over. The key is to see where it will close tonight, if the candle moves significantly below the white line it will also end up moving below the 200MA on the 1W which is significant. If all these developments go the way I described the next logical spot to land...

cryptoGats Updated 

Happening now: We are looking good on the daily timeframe, BTC has decisively gone over multiple resistance points and continues to cross over them with conviction. The concern is that this is all happening as the leading economies in the world are showing signs of bad times coming, During different times I would say that the bottom was in, but since we are in the...

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Happening right now: Looking at the one-day timeframe you can see that we have stayed consistently above the 50MA if you see at least 3 candles above the 50MA that shows strength, however, this move is highly suspicious since there is so much divergence in so many indicators. We have a tremendous spike in volume while the candles are generally small. In cases like...

cryptoGats Updated 

Looking at the daily timeframe we can see that Bitcoin is a the top of a downward channel and at the top of a range. For the last few months when BTC has reached the top of either structure it has had a meltdown. This time, it has reached the top of both structures simultaneously. This is a timeframe and area that should be watched because if BTC closes above...

cryptoGats Updated 

Bitcoin - Looking at the one-week timeframe this is what we are seeing at the moment. Back on June 17th when we hit the 200MA and unlike many years before, Bitcoin went well below the white line, nearly 4 weekly candles later we are still under and looking very weak. This weakness and the inability to cross above the white line greatly tips the odds in favor of...

cryptoGats Updated 

Bitcoin is now well inside the range that I created back on May the 12th. Every time we dip below a set range it opens the possibility to go to the next lower range and that's how this zone of interest came to be. The next stop IF we dip below the current range is $11,000. As of right now, BTC does not show signs of strength and we may see another drop, or we may...

cryptoGats Updated 

Most of you think that an exchange is simply where trades are facilitated, that exchanges offer cool products like shorting and leverage trading. Wrong! your exchange is not your friend and it does not care about you. In fact, it is your biggest competitor, and those cool products are designed to separate you from your money. Your exchange knows all of your...

cryptoGats Updated 

While your favorite amateur analyst on Twitter is screaming BTC moon tomorrow (since 3 months ago) the reality is a little different. Going back up is a complicated and slow process dictated specifically by the law of supply and demand. Simply put we might not be done going down or being stuck inside a tight range. Some ranges last months and are followed by yet...

cryptoGats Updated 

Looking at 1A. on the 4-hour timeframe we can see that Bitcoin has run into the 200 MA (Moving Average) putting an end to the party for now. If BTC has enough buyers at this price point it will continue to move up, but it will encounter heavy resistance 1B. This is where sellers may show up and could put us back into the range. This is the main battle zone for now...