So I looked it over much longer, and I think this makes a lot of sense. These 2 blue lines have acted like bug zappers to Bitcoin. I think we will hit the closer one very soon. This will send us down to the long awaited double bottom of $6000. That rush is going to allow us to punch through the first line but we will hit the second line and the plummet like we...
Check this one out. By George I think I've got it! haha. Anyway, These 2 red lines have been acting like bug zappers for ETH (and Bitcoin). I think we will bounce off our current resistance of 365, then hit zapper line number 1. That will send us down to break our resistance and hit the nice round number of 350 where buy orders are waiting. That will shoot...
So I still think we have to dip down as hard as we spiked in order to please the bears and get this price back down to where the whales will jump back in and repeat the cycle. On the other hand, sometimes loans can be paid off short. Looking at it from a non technical standpoint, some may say a double bottom combined with the extended amount of time we have...
Have a look at this. Log scale makes this "breakout" look like a who cares break of the 50 ema. Seems like a dangling carrot sent over by the bears... We are still in the downward channel shown inside the blue lines. If we get above 7300, that might raise an eyebrow. Even then we are still way below the main downward trend line from the ATH shown in green. ...
The more I look at this chart the more I like it. The 2 and 4 hour charts are just too zoomed in to give a good picture. I believe the whales trade based on the daily charts and it's the whales we need to get our boost to the moon. If you were a whale, would you invest your hedge fund money in bitcoin right now? I wouldn't! You would owe it to your investors...
The old hammer reversing signal.... looks like the bears won the day yesterday. That inverted hammer says nope! Not gonna keep climbing from here! I've also seen TA that was tilting bullish talking about Elliot waves and I believe they have failed. So... not tryng to be Elmer Fud here, but it doesn't look like this is the recovery. Get ready for $6,000! I...
The way I see it, Bitcoin pumped so hard in November and december that it exceeded the natural growth line. Kind of like taking a loan out. It was in the negative, and needed to pay that money back. Just like credit card bills after christmas, the bill collector came calling, and old Bitcoin needed to pay back that big loan with an equal amount of dip... The...
