I've tightened up on the line timeframes to overlay the traditional SH - note that this is an example rather than prediction. BTC dropped deeper then my own target prediction of £6,980 but as mentioned, my last SH I underestimated and the drop and it went deeper and I overestimated the resistance after $7k. BTC likes to do things bigger and faster or possibly...
Hi, I'm updating this Idea based on the hourly. As noted in a previous Idea, this overlays an example of a stop hunt / trap. I also noted that when Iast saw this trend I got it wrong and the trap trend failed and the market dropped a lot deeper! That's probably because I'm a novice so just highlighting the possibility rather than a forecast. The reason I'm...
Hello, To add a little positive thought into the gloomy picture being created by the Mr Whaley the Market Maker I've overlayed a typical manipulation of a Stop Hunt (Novice Alert). In FOREX these occur by the minute, by the day but also by the month and year to Stop Out all the different traders - The house always wins. Now there are a number of large players in...
I still agree with the idea of bullish short term action from BTC working off the FIB. We are nearing the medium term target - either midnight CET or tomorrow morning. With the recent liquidity efforts around the $8,100 mark I think it is going to try crash through the resistance and spook investors all lining up to buy in at $7,600, lets hope it holds. However,...
Watching the trading on BTC is fascinating and I've enjoyed trying to get my head around the posturing and trying to identify 'fake outs'. While RSI and other indicators are looking pretty good I think TA has run its course now and this is just a game of cat and mouse. - I think most of the buy posturing is probably from the bears themselves in an attempt to...
Very rough look at events in the past as channels came together. Note that the 2014 crash is a little difficult to review due to it's length. Trying to take an objective stab at this, it looks like each crash ended before the channels met. We are nearing the coming together of the long established up trend* and the recent down trend. Has anyone you know looked...
Novice but I've managed to predict the last 2 bottoms so 3's the charm, right? - The market is prepping and testing resistance past $8,600 right now calculating the requirements to push back up to the channel - now at $9,900 (not $12k). - Based on historical drops (previous years) I'm expecting a slight retracement then a little more consolidation before the run...
Novice trying to learn a little more on retracement strategies. I'm liking this RSI (14, close) indicator. Took a nice (small) gain at the $8,301 placement but in a hesitant mod about the next trend. Most traders here seem to be going short and I feel we will break through the $8k mark (due to a little panic), maybe shooting down to $7,900 before a pull back...
Picking up on a few conversations on tradingview / YT - RSI is not looking too healthy. I have a retracement in at 6,331 but this suggest a deeper drop longer term. That being said, bigger gains have been created from the bulls through smart buying in the past Novice / still bullish but nothing is linear right? :)
Still bullish. We may drop lower to create more liquidity. $8,400? Don't think this is over Mr Bear!
Long-term support trend-line is worth a punt but a little concerned about the momentum. Some good support at 8000, 7,900 and 7,200. I suspect the bulls have a chance to level things off beforehand if they can see off this FUD.
Slightly deeper than expected and a few hours longer but the road ahead is challenging. Solid support developed for next 18 hours of work
Trying to look at use cases for Fib and retracement over the last few days. I've noticed regular investments every 6 hours or so - coming in burst of 3 then some consolidation before march onwards. I tested out the Fib to understand how deep the retracements are - typically 38% from low start of move to high point. Expecting a small drop to 11,212 before...
Still neutral. I think there is more hype appearing around BTC going up and positive signs are appearing (you might suggest a bull flag is appearing to blast us through to 12k? However ,this market might just drift for a while while it builds a solid base. Perhaps it pushed to 12k too quickly previously? Plenty of PnD to be getting caught with in the mean...
- A new month but BTC has made it across the channel but I have not seen much in the way of new volume coming in. - Big sell walls ahead. - RSI looking oversold on 1, 2, 4, day periods. - Some FUD - No obvious lumpy investments ... That does not sound very 'Neutral' does it? Positives! Global Job Coin just moon'd - crashing in the next 5 minutes ;) I expect...
Much of the basic charting courtesy of Bitrage - sub to them on Youtube
Disclaimer - the charting is mainly lifted off Bitraged (check them out on Youtube and subscribe - best advice on YT!!). Also note that they don't suggest it is going up - in-fact they are naturally cautious about this and highlight the potential to drop considerably!!! Despite RSI I'm expecting BTC to break the channel but volume looks low - watching to see if...
Ok, I'm a newbie but I'm starting to believe in the charting. It's not the fact that I feel my analysis is perfect - more the fact that I didn't hyperventilate as the market went off without me!! Despite the rise today I've held my ground on my expected target based on my analysis, not tried to trade the long and not bought in at the top :) Feel I might...