After a few weeks of watching numerous YouTube videos of how to draw support & resistance (S & R) zones and learning why they are arguably the most important part of technical analysis , I have spent 8 days straight making this chart.
Here is the latest video from my new favourite learning TA channel, they have quite a few on the subject:...
Thought it was high time to update this ol' classic.
+ the RSI , which as you can see times the bottom perfectly; it really is all you need.
+ historically, the price has always come down to touch the 7MA during a bull run so history suggests either a) price to go a little lower, right now the 7MA is at around $8,000 and rising and support is around...
OK, OK, that title was a little click baity, BUT not without good reason, I hope.
It's a monthly chart this time, but also very simple.
Let's get straight to the point:
Long term trendlines stay intact, i.e. the price always comes back to the long-term trendline...until it passes the previous ATH (all time high), then it flies away like an unruly kite in a...
Buy the dip? When is that? What if I buy then there's a bigger dip? How do I know there'll even BE a dip? Have I missed the boat?
Relax. I know history doesn't repeat, it haikus blah blah blah, but if we CAN'T use historic data, what else can we use?
So today's chart clearly shows good times to buy when the RSI is under 40 and the price is under the 50MA on the...
OK, I felt compelled to make a chart labeling all the relevant points that came to my attention recently in order to predict bitcoin's next move.
I have included all key indicators that I personally have found helpful since I started this charting adventure around a year ago.
+ bitcoin is oversold AF
+ everyone in the crypto world who wanted to buy...
For the average investor who has limited knowledge of TA, it's common knowledge that dollar cost averaging (DCA) is the best way to buy bitcoin.
When to buy?
Most will say: "It doesn't funking matter because looking back in *insert future date*, the current price of bitcoin will be considered so cheap and you would be crazy in the coconut not to buy right now."...
I though it would be interesting to compare similar parabolic moves in Bitcoin's past and see where they corrected to regarding two things:
+ RSI level
+ Support & resistance zones
Simply put, after such a powerful move up, there is a good chance of the RSI going down below 40 before rising again
Support & Resistance Zones
As you can see, the price...
Duration of 2015 capitulation candle ~ 2015 first retest of previous major support (now resistance): 294 days
Duration of 2018 capitulation candle ~ 2019 first retest of previous major support (now resistance): 168 days
168/294 = 57%
Duration of 2015 resistance period: 203 days
57% of 203 = 116 days
Had some time to kill and thought it would be interesting to look at the trendlines at the bottom of the previous bear market compared with the current in terms of length, nothing revolutionary I know. Also thought it would be fun to see if I applied the same size arc shape to the last and current (maybe) bottom's volume (which recently has been proven to be a...
Oh, why not? Why not make a prediction? A little fun speculation to brighten up the boring (assumed) bottom building.
Just relaxing after a day at work, looking at the Bitcoin daily, because that's how I relax, apparently. Thoughts: after a bull market, the decline of the price MUST affect people emotionally the same way, right? I mean it was only 4 years ago,...
It's very clear and easy to see.
Melon has done what most other half decent alts have done: double bottomed and had a strong upward movement. Melon has never really had that much trading volume, however I believe this is a quality project and the team have been working hard and transparently and have been on target achieving their goals. OK, that was FA, but...
I know, I know: no two bear markets are exactly the same, but with THIS many similarities, who would deny the chance of such a juicy comparison?
What is similar on the Bitcoin monthly chart?
+ The MACD's shape and current position
+ The MACD's histogram
+ The RSI's shape and current level
+ The volume pattern
Any questions, comments or constructive...
OK, so I decided to spice up the regular long term monthly Bitcoin market cycle chart with adding the Coppock Curve with orgasmic results.
Here is what ya need to know, or not! It's not financial advice; you need to know whatever you decide you need to know ;)
+ Above 7 MA indicates a bull run is well under way
+ The bull runs and bear markets, so market cycles,...
Time to BATter up?
In the past when the RSI has become oversold, BAT has seen a positive reaction. Will it this time?
Previously when a longish downward trendline was broken, the price moved upward, this time it didn't have that immediate move and the price is still moving down.
Support & Resistance (S&R) Zones
I hope I have drawn all the key...
After a few weeks of watching numerous YouTube videos of how to draw support & resistance (S & R) zones and learning why they are arguably the most important part of technical analysis, I have spent the last 8 days making this chart. My main takeaway is: drawing S & R zones + being a perfectionist = migraine, the other is special fried rice. (Dad jokes are funny...
After just completing an update to the previous Bitcoin 3rd cycle chart, I noticed something:
After Bitcoin got rejected by the overhead former support line, it bounced on the 6k line a few times, each bounce lower than the last like a bouncing ball that eventually stopped bouncing and just rolled on the line whilst volume was dropping then the momentum slowly...
Hello fellow silver lovers and TA fans. I'm a big silver coin fan, but have held off buying them for a while since I started to become aware of the importance of support and resistance (S & R) zones. It's fascinating how some areas can consistently act as support or resistance throughout the years, some as long as THIRTY years after they were first established...
If being addicted to finding patterns and then presenting them clearly in a chart is wrong, then I don't wanna be right.
After making the last weekly chart showing the basic framework of support & resistance lines for all of Bitcoin's 3 market cycles, I decided to make a more detailed daily chart showing all the major support and resistance lines for this current...