kingcheng

kingcheng

Looking at the weekly chart, I have noticed that with each parabolic run to ATHs, bitcoin pulls back at least 30%. Mid Jun 2017, we saw a run then a pull back of 40%, another 40% late August 2017, again mid November 2017 (35%) and by the end of 2017, another 40% before the bear market initiated. Analysts have been anticipating this break down for a while after...

kingcheng

everal signals are showing that a big break down will come this week. A clear rising wedge is forming near our all time high with volume diminishing as the week progresses. Target drop will possibly break several support levels, the first being around the 18,500 mark. Support is relatively strong at that mark, however, if a large sell volume breaks through...

kingcheng

just a reminder that BTC still outperformed stocks, gaining 100+% on the year.

kingcheng

bitcoin is taking a breather from the huge price action up from a few days ago shooting close to 50% in price. There is a small gap around 8.8k - 9k in the daily that, from past learning experiences, should be filled almost always. fortunately there is also a gap around 11.7-11.8k that will eventually get filled too. Which one gets filled first is anyones...

kingcheng

There's no coincidence that the head and shoulders break down has a price target around the same price as the gap that needs to be filled in my previous note. Once gap is filled, there should be a trend back up. short positions now are a little too late.

kingcheng

We are going to fall deeper into the bear trend and possibly start a new bear market. Target is around 7.1k Don't waste your money

kingcheng Updated 

I was taught that once those gaps get filled down the road, bitcoin then goes on towards an upward trend.