jayrsawal

jayrsawal

Afternoon once again fine folks. Quick and dirty, here is what I'm looking at these days on the BTC charts. We've had quite a few nice hours of rest and accumulation from the most recent steep sell offs. This can only last for so long and we are quickly approaching the tipping point where bulls and bears must ultimately choose which direction to head. That level...

jayrsawal Updated 

Hello everyone! Back at it again with an idea that is not actually new, and just a reiteration of my previous. I mentioned before that the up trend was a very clear bull trap. Although the upside went for much longer than I had anticipated, the analysis still held true! TO BE CLEAR ONCE AGAIN: Our analysis from previous ideas HAS NOT changed. Our targets are still...

jayrsawal Updated 

Hello folks! It's been a minute since I last gave you guys an update. Since then, there has been quite excitement going on in BTC's price action. Somehow, the bulls have managed to make a last minute comeback.. but it's unlikely that this will be the last fight! There were no signs of a clear reversal in the trend, which indicates there is more downside to come....

jayrsawal Updated 

We've rallied a bit up from our lows, and back up above 7k. It's good to see the bull's are still there.. but don't be fooled. It's very common to see a weekend rally.. and as volume fades from the recent dump, this is almost certainly a trap the bears have laid out for the bulls. I would consider the levels between 6500-7000+ a very high risk range to be...

jayrsawal

Happy Friday folks! Our calls have been quite on point the past couple of days. Having confidence in the direction our portfolio may be headed, is quite a big stress reliever. That said, let's get into a BTC analysis that takes an even further step back. Last night, our chart predicted pretty much on the minute to when we'd start falling again. From our given...

jayrsawal Updated 

So what we've been waiting for has FINALLY happened. No chit chat this time, let's dig straight into a quick analysis on this one. Real simple chart edition. Right after my update on the previous idea, we broke below the 7700 level.. and as expected we INSTANTLY started falling. We've found some support around the 7500 level, but don't expect this level to last...

jayrsawal Updated 

Good morning beautiful people! It has been pretty quiet since the weekend, hasn't it? On the bright side.. when bitcoin is doing nothing on the hourly charts, this gives us a chance to take a broader look at how BTC is doing. Let's get it. We have been in a very tight trading zone in the past 24 hours, with no clear winner in sight. Most recently, we've had some...

jayrsawal Updated 

It's been a long couple days, I'll admit. It's quite boring watching BTC go sideways. Trading the chop is never easy, especially in a space where so much manipulation goes on. I like taking the neutral position often, until a clear and distinct trend shows its beautiful head. We are at a fork in the road coming up very shortly here. Let's take a step back and see...

jayrsawal Updated 

Be quick to call your wins.. be even quicker to call your losses. Looks like we missed the bottom by a little less than $150. HOWEVER, we are not in the business of calling bottoms or tops. It's a good idea to average out your purchases across a range as opposed to going all-in on a resistance/support line. This will allow you to get in at cheaper prices, and also...

jayrsawal Updated 

Now if you haven't seen my BTC update on the last idea, we're pretty much up 5% after a short that was pretty much predicted exactly by our chart. Where do the BULLS go from here? It's only natural for sell volume to slow down here. I've drawn some fib lines to get an idea of what to expect. It would be completely natural to get a bounce at the golden 0.618...

jayrsawal Updated 

Since our last BTC update, we mentioned a symmetrical triangle (dotted orange lines) that could continue our medium term downward trend. Although we have not closed outside of the symmetric range, we've seen a wick just creep below! With that wick, and a little bit of consolidation, we've started forming a small BEAR FLAG within the triangle. With so much...

jayrsawal Updated 

Quite of a textbook symmetrical triangle appearing on BTC charts. Bulls have tested 9k several times now, and the continuation pattern could send us plummeting down to the next level of support around 7700-7800. As many on here have stated, there is a lot of sell pressure above 9k, which gives is a more probabilistic downward continuation. Symmetric triangles...