mortonpeak

mortonpeak

Great for BTC day trading, excellent upswings, seems everyone is looking at that pitchfork channel . The overall buying momentum is impressive along this 3.5 - 5% gain channel, excellent day trades. People are willing to lap it up along these trends, west coast US trading session

mortonpeak

took several steps to determine a set of support and resistance lines, moving up two likely parallel channels. We are still bullish as of this am, los angeles time

mortonpeak

how we move today versus yesterday -- pretty similar uptrends, and down throughout the day/ 24 hr Come on China, rouse it up!

mortonpeak

This upward drive is more ferocious than the last, at the start of december / end of november Its momentum is harder, more violent

mortonpeak

18k?

mortonpeak

Don't be surprised to see BTC slipping this afternoon. People really need to drive this price down. You can see that similar arcs of slow-down are taking place, like slip back into the upper 16000's before the Asia session tonight. Asia did not help us bid up prices last night. Was it the rise in mining difficulty?

mortonpeak

It's easy to push this market upward at this point. You can see my highlighted rectangle -- people are pouncing on any signs of momentum. Usually a rope bridge like this one is a standoff, and today it ended up in lots of gunfire. Any little twitch at the sign of low RSI or low momentum is exploding upward. Nice situtation, hard to get low RSI.

mortonpeak

after a difficult morning, BTC has reversed trend

mortonpeak

This could be a penant, with a resumption of trend line (what everyone expects). But it could also be a falling wedge. Here is Bulkowskian falling wedge playing out: 16K+ on opening day of the CME, 12/10 trend reversing late today here in California (8:30pm) per Bulkowski, thepatternsite.com Not trading advice!

mortonpeak Updated 

Lots of optimistic TA coming off TV rt now.... Here is the morning channel Replicating 5 day collapse, less momentum, but similar response to 13.8K, once we dip there. This is why big crashes aren't happening, it's because some guy buys it here If we're heading to 20K from 13.8, someone gets a nice xmas

mortonpeak Updated 

continuation of trend, short term bullish while headed into this constricting channel. I expect a standoff where momentum stops, we see who jumps in, seller or buyer, and everyone else looses their mind. will the cup and handle imbue some confidence, and encourage a buying spree during our lull?

mortonpeak

Lulls in the BTC environment lead to one of two things: a breakout or a crash. It's hard to determine which. We are likely headed short term into a low-volatility channel as the market decides what's next. As you can see, the harmonics are calming down. Rumor and public sentiment will play a role, but largely it will be about who is tempted to move on the lull --...

mortonpeak

this standoff occurs as a prelude to big bitcoin action

mortonpeak

I think we'll revisit this chart formation again: the burmese bridge, representing a standoff between buyer and seller, a virtual siege where no one wants to move, until a real move breaks out. It's tough to call once the RSI crashes, and signals a buy. You must rely upon your fundamental analysis (non technical) to gauge whether you should enter. If you buy...

mortonpeak

Public sentiment among traders very positive, expecting big flush in price soon. Trends obeying penant this am, market respecting latest support.

mortonpeak

hard to get crypto out of gdax in order to avail myself of this trade

mortonpeak Updated 

BTC is not a stock, nor a commodity, nor an asset. It's currency, and you've got to trade it. The current buyin taking place represents a triumph of the project -- begun in 1995. It is to design a monetary system that algorithmically includes and supports people across the world. Take 10$ USD from your paper route. You can grow it. Take 1/100,000,000th of a...

mortonpeak

BTC is not looking like it will recover in a week, but sooner, perhaps tonight, UTC-8, late?