As the Death Cross refers to the 50 MA crossing down through the 200 MA, what is it called when the 100 MA crosses down through the 200 MA? Well regardless of what that would be referred to, it is interesting to note that amongst the major alts that I have been following which includes - LTC, ETH, XRP, BNB, XLM, BCH, EOS, ADA, TRX, and DASH - BTC is the only one...
As mentioned in a idea published back on September 3rd where I highlighted (Figure 2) BTC's price action being supported by the .382 fib level drawn from the weekly top of Dec.2017 to the low of last year. That .382 level of around 9430 was touched 4 times during the months of July to August before breaking down on September 24.
Now in Figure 1, we can see the...
1.1H 50 & 100 SMA death crossing the 200
2.Lack of a bull case scenario
3.Since June, the last 8 times this has happened has resulted in actual price drops. No fakes.
Will keep you all updated.
As we all fret on the verge of what's going to happen next with BTC, the Fed, the SEC's decision on Bitwise's ETF, the US-China trade war, etc... It's good to also not forget how influential China has been in the news the past year. And not to mention, how influential China has been to BTC the past decade.
If we look at the charts of both BTC and the RMB, there...
No, Shake Shack will not be accepting Bitcoin as a form of payment anytime soon.
But as a follow up to the Bitcoin and avocado phenomenon, it was only natural to see if there was another similar price pattern hugging phenomenon with another millennial lovin’ stock. And wah-lah!
Bitcoin and burgers. Mmmmmm.
But nevertheless, just look at this tango going on!
BTC has given us a relatively flat week. But calm seas never make a sailor. And despite all the headlines reinforcing mass adoption is underway, the BTC bears are still looking for blood. Three observations I see:
1.The 100 D SMA just brokedown through the Ichimoku
2. The 21 D is fast approaching the 200 D
3. A false indication from the MACD
LTC's 100 D SMA just breached its 200 D SMA.
Look for Fib extension 1.414 level of 47 to either act as support in the short term. If prices break through it, SHORT IT.
This level acted as support in 3 separate occasions in 2018. A pivotal level.
It sure doesn't. But in BTC's case, it seems as though the two go hand in hand. And despite the rhetoric of BTC being a hedge against risk on assets, since 2011, BTC has a correlation coefficient of about r=0.78 compared to that with gold of about r= -0.14.
And then again, when all shit breaks loose, all asset classes converge to 1. But BTC has never...
Traders, all is not lost.
Seems like we have experienced the breakdown in the triangle formation from the past few months. That 20% drop in price 2 days ago was well...crypto at its finest. BUT as well all know...opportunities are made in times of turbulence.
Listed below are 5 possible re-entry points into BTC:
1. 9478 represents the 0.382 Fibonacci support...
As I have mentioned earlier this month, BTC price action is consolidating into a more narrower and tighter range hoping to see a breakout/breakdown in the near term. As we continue to wait for either or, prices continue to consolidate putting traders and enthusiasts to sleep. I agree, it's been pretty bleak for the past few weeks.
What we do see is that the .382...
ETH price action has been looking bleak since earlier this summer as prices are now hovering around 180 with little sight of hope. As we see other alt coins getting stale, an oldie, but scary long time indicator has popped up on the ETH daily chart.
Last week we saw a death cross occur at the 172 level. This is the first time this has happened since the last...
The past 2 days have gave us some glimmer of hope with BTC flirting with 11000 after bouncing from its 9400 level. From my talks with other traders, most are bullish towards the upside range of 12000/13000 but expect some choppiness along the way. Since flirting with 11000, price action has pulled back a bit.
On my previous Idea published, the bounce from 9400...
So just to follow up on my Idea from yesterday, on the 4H chart we can clearly see the fib .382 (derived from the weekly high in dec '17 to the low of '18) acting as a support line from a triangle formation that formed since June (which i also pointed out on an earlier Idea). But nevertheless, this support line which has been resting around 9400/9500 has been...
The Fibonacci retracement (starting from the highs back in dec '17 to the lows in '18) level of .382 have given a strong support level for BTC price action the past few months. The symmetrical triangle, which has formed since June, is consolidating with an expectation of a breakout or breakdown. Last week we saw BTC price action breach through the bottom triangle...
haha ok so I just wanted to have a little fun here and refer back to a previous idea of mine earlier this week. I wrote about the Ichimoku clouds indicator and how this could be a powerful tool to use especially in a longer time frame. Particularly on the weekly chart where we can see the symmetrical triangle formation still above the Ichimoku Cloud supporting a...
-BTC price action breakdown through the symmetrical triangle convergence lines on the daily
-BTC price action also breaking down through the 100 D SMA
-Look to find support at $9,448 (0.382 FIB level)
The delta between the US 10Y and the 2Y Note is now at its most negative difference since 2007. Before markets came rambling down and...
-Symmetrical Triangle formation on the 10 weekly and 60 daily priming for a major breakout.
-21 SMA crossover over the 50 and 100 signifying strength more likely to the upside.
-US 30Y yields now below 3-month notes further exacerbating the inverted yield curve.
Trading was never meant for the light-hearted. Especially crypto price...