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As I was doing my last analysis around Fibonacci, I discovered this trend line on the logarithmic chart that played a dominant role in the support of Bitcoin during it's last bull run.
See my fibonacci analysis here showing a strong resistance at the trend line I highlighted here....
Happy Easter Traders!
Bitcoin has been in a weird, no trade zone for a while now without much action, but I suspect that's about to change.
Bear traps, bull traps, rising wedges, ascending triangles, bearish divs... WTF is Bitcoin planning here?
To be honest, I am not in a margin trade right now as Bitcoin isn't giving much of an edge at the moment and the...
I hope you were following along on my 61.8% fractal analysis as we called out this price move back on March 8th!
If you read through the analysis, I said it would make sense if we also got a pull back to the 61.8% of the impulse move and right now, we are at a...
Good morning traders!
What a move on Bitcoin last night after I posted my analysis. Bitcoin is struggling to hold the 200MA right now, so the battle is not over. Over $400 million worth of shorts were liquidated last night as they had continued to rise in the face of the bitcoin rise.
Do you remember the magnet? It took a while to get to $5,000... but damn it,...
It looks like our ascending triangle is still playing out as I had laid out on March 12th.
On a short time frame daily chart, we are seeing a breakout above the diagonal and horizontal resistance that has plagued Bitcoin....
Litecoin has been dominating the market lately and leading the altcoins to higher highs.
However, we are now at a very important resistance for Litecoin.
It is going to take a lot more volume to break the previous support level that has now flipped as resistance.
We are in a massive rising wedge with declining volume and bearish momentum is starting to take...
In my last analysis, I showed how Bitcoin has the potential to break out to the 61.8% pull back level that we've seen it do time and time again.
If you haven't had a chance to read that analysis, check it out here:
In this analysis, I am seeing an exact...
We saw a strong bounce off of the 61.8% fibonacci zone, but we're coming up on a strong resistance that was previously a strong support.
I like to play these Support/resistance flips the first time they test it as the supply usually keeps the price from moving through the level and they are nice shorts with a strong RR for less risk.
I have a relatively tight...
Good morning traders!
I've found a nice quick scalp opportunity on XRPH19 after we had a nice retest of previous resistance before the breakout.
XRPH19 on Bitmex has low liquidity, so it's a higher risk trade but I like the support it's held so far and I've bought these S/R flips before for nice profits on the bounce.
I'm looking at a 10X leverage trade with a...
Happy Friday Traders!
Today, we explore how Bitcoin has a strange love for Fibonacci and it's strong affinity for the 61.8% retracement level.
If this fractal holds up with this most recent downtrend, we could see a pull back to the $5100-$5300 level before deciding on it's next move..
I wrote about Bitcoin's love for Fibonacci before and the 61.8% trend...
- Falling wedge structure with a 261.8% downside support.
- Hourly and 4 hour are showing Bullish Divergence
- Double bottom on price structure with a small breakout and retest of the falling wedge resistance turned support.
- Higher risk trade due to newer listing.
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Thank you so much for the overwhelming response on my first article even if there were a few typos and a couple math errors.
If you haven’t had a chance to read it yet, it was the Ultimate Blueprint For Risk Management and is the...
Charlie Lee will go down in the history books as having some of the greatest predictions in crypto.
I wanted to mark these tweets in the history books so people would remember the mind blowing trading genius Charlie Lee.
On March 30th, he tweeted that after Segwit, Litecoin Price woudl go up an estimated 300-400% to $14 was near the absolute bottom of Litecoin's...
I hate picking sides, especially when two of my favorite friends are fighting...
I've made a lot of money with the 200MA... and made a lot of money with the 200EMA.
I just wish they would get along, but alas...
This is a pretty unique situation for Bitcoin to be in, where the price is now trapped between the 200EMA and the 200MA.
In a very simplistic view, I...
If you don't know who I am, my name is Jacob Canfield and I'm one of the top authors on Trading View. I've been trading various markets since I was 19 years old when I bought my first options course.
After spending a decade trading in all types of markets and spending the last 3 years in the...
I like to buy on these accumulation zone set-ups when the market is 'somewhat' stable because we can see explosive moves out of the buy zones.
When the market is in price discovery, these zones can get melted like a hot knife through butter. Always understand the context of the market before making a trade.
Double Bottom on price action.