cryptoGats

cryptoGats Updated 

BTC failed 2 out of the 3 benchmarks for going up and showing strength. It was not able to close above the 50MA on the 4H time frame nor did it close above the 50MA on the weekly chart. This is the 4H view This is the weekly So what's left now for BTC and what can we read from the important 1D chart (the main one above.) BTC is still walking up the...

cryptoGats

BTC failed 2 out of the 3 benchmarks for going up and showing strength. It was not able to close above the 50MA on the 4H time frame nor did it close above the 50MA on the weekly chart but it has stayed above the green trend line on the 1day chart. This is the 4H view This is the weekly So what's left now for BTC and what can we read from the important...

cryptoGats Updated 

If BTC closes above the 50MA (50-day moving average line) on the 4H (Four-hour time frame) that will also push BTC to close above the 50MA on the weekly which is a pretty good sign of stability. This is what all of that means; When the weekly candle closes this weekend above the 50MA it is a signal that BTC does not want to go any lower than $7300 at this point....

cryptoGats

Quick heads up: BTC can only afford to go a little lower and it has to close this week above the 50MA (which is the yellow line.) If we do not close above the 50MA that move opens up the possibility of going to the $4800.00 area. BTC has the benefit of the doubt, it could still be in the middle of forming a bottom. What we have seen these last few days is typical...

cryptoGats Updated 

I will be very honest and show you my cards and what I'm hoping for. I will do very well next year if BTC goes from here to 20K or above, but I will do exceptionally well if we hit the $4800 area, why? Because at that point I would have 100% of my working capital in, and BTC is showing signs of storing all kinds of energy for the next move, meaning we may go...

cryptoGats

We are about to hit a very important spot, and this is very critical because it will indeed dictate how things will go for the short term. BTC is about to test the recent landing spot of Nov. 24th and this is very simple; If BTC refuses to go lower than that green line, we are at the bottom, if BTC dips below that green line we will try to eventually touch the...

cryptoGats

Just like a fat guy going up too many stairs, BTC is looking like it is running out of fuel and needs rest at best. What this tells us is that Bitcoin is for sure running out of momentum. As long as we manage to not close more than 3 times under the support line it is not over, but consider BT's status as questionable right now. Also, the 50MA (Yellow line) is...

cryptoGats Updated 

Yesterday I found the immediate battle zone, and we left BTC fighting to go over the red trend line. Right after my post BTC got rejected back to the support line which is growing in strength with every time BTC rests there. Where do we stand right now? BTC clearly keeps getting rejected at a very strong place, the struggle is at the $7420 area (depending on your...

cryptoGats Updated 

Let's read the important 1W chart, and let's interpret what price action is telling us. Support, where BTC is right now, is very, very strong. The green trend-line has been able to provide support since November of 2017. If we breakdown this line we can see that it offers a lot of support and not much resistance, it also indicates that this area is very important...

cryptoGats Updated 

Seriously, what type of trader are you? This is a quintessential question that must be answered so that you can develop your trading personality. There are 3 main styles; 1. Day trading which is for experts, you have to close your position by the end of the day, not good for Crypto. 2. Swing trading is a bit better for Crypto but during up-trends of course. 3....

cryptoGats

I hate to be blunt about it but you should only be reading technical analysis from a couple of analysts. There are a lot of unproven hacks in this space and I will recommend that you stop following them if they are getting in your head with their doom and gloom about Crypto. They'll convince you NOT to buy when BTC is low because it "will go to $600" or "Crypto is...

cryptoGats Updated 

We are at the stage where we need to start considering what the bottom could look like. Let's start by defining what a bottom would look like. A bottom is when an asset hits a trendline or horizontal support line and it then goes up and touches back down to retest that line but refusing to go below it. Let's look at the current candidates for support. BTC hit 3...

cryptoGats

In my last post, I touched on the "Possible Rocket Fuel Area." This area has a lot of support from multiple angles which typically makes it hard to break and easy to stage a comeback from. These types of spots are not easy to find so the Algos count on just a few people knowing about it so it makes it even more likely that a quick jump can happen here. We have...

cryptoGats Updated 

If you have been following me you should be 60 to 65% into BTC or Alts depending on your preference. Keep in mind that BTC will not keep going down forever, at one point it will stage a rally to the 200MA, we just have to find out from where and when? We know that we've had too many red candles in a row, which means that some green candles are coming for sure, so...

cryptoGats

What happened, what's happening and what's going to happen? At one point you will look at a chart and you'll be able to read it like a novel. You'll read it and see that a crime happened and you'll know the suspects and you may even laugh. Real quick, what can be funny about this chart? Chart patterns of course, for those that believe in head and shoulders and...

cryptoGats Updated 

If BTC closes a daily candle under such strong support (which now becomes resistance) the odds of melting down to the next rest area go up, and the more candles we close under such resistance the pull/gravity of the $6500 - 7K area will force BTC to land there. Once there, the majority of the high performing Alts will be at good entry points. Signs are showing...

cryptoGats Updated 

Let's start with this; Why do I seem to be ok with BTC going down if I do not short BTC? Because after every parabolic move comes a big drop, the bigger the drop the bigger the next parabolic move. The best thing to do is to catch it near or around the bottom. Why is that? Simple, you'll triple or quadruple your money. As you can see it will be highly beneficial...

cryptoGats Updated 

This death cross was a bit unconventional in that whales/exchanges used the fact that a lot of their customers were counting on the death cross taking price down immediately after the crossover. What did the exchanges do? Closed them out by generating two massive green candles and took their money without any shame. Leverage trading is made up of two camps; The...