A) So BTC pushed into last week's open (upper orange line) and has now retraced. I hope you used that structure and long wick as an opportunity to take a little profit if you were long?! B) We're now at the 50% retracement of that recent leg up. Possibly a good spot to load up? I'll be waiting for confirmation before adding to longs, for what I perceive to be...
So far things are looking ok for the Bulls, and their backlash since 6.4k. A) Was our initial push out of that 6.4k touch. Breaking structure, giving our first indication the downtrend may be reversing. B) Gave us a near perfect 50% retracement.....A slow ball over the middle of the plate. Engulfing Bullish candle and all at the bottom to kick us back off to...
Macro/Mid Term is still Bearish, yadda yadda.....I've said it every post, we broke above 7250 as I anticipated, and Bulls were unable to hold it, as I also mentioned to look out for. A) Our recent drop created a couple "inefficiencies" in price. I'm targeting those for the short term. B) We cleared previous micro highs (pink box) and began correcting. We're...
Clearly BTC Core is in a Macro-to-Mid term Downtrend. Whether 6.4k is our pivot out of that fall or not, remains to be seen. Make no mistake, I'd view this as a Counter-Trend Trade, and as such would make sure position sizing was smaller than normal, to minimize risk accordingly. That being said, Core seems to be forming a possible entry point, in my...
IF....and I stress IF....the Bulls are to stay viable, and not find LL's....They need to follow this White Arrow path, IMO. IF, they can manage to stay up here, and get a little momentum moving in, they can push up Edge to Edge on that Cloud, at least testing that 8.2-8.5k area. IF, they managed to hold that, better yet, break ABOVE it, well we could have...
Excited by the reaction off of that 6.4k touch, much of the crypto community has grown horns, and become bullish again. I understand it. I even hope(d) it was a nice strong reversal beginning. The Weekly tells a much more grim story. A) Chikou has been rejected by the cloud. B) Chikou has now traveled below price, as well as below T&K C) In late Oct we...
This recent PA has everyone (most) puzzled as all hell. We finally have volatility coming back people! Enjoy! The way I see it....Test the lows(near lows again, 6.4-6.5k) with another Super bullish response....and let's rip through 7.8k....low 8's....and let's give 9k a scare...then we can talk. I see us testing upper 7's low 8's before a break of our current...
It's been a horribly bloody, brutal 5-6 months for anyone with an ounce of Bull in their hearts. Recent PA has been no exception. Our recent consolidation in the Demand Zone created after breaking the 6k MS from the underside, has featured a sneaky little Deviation (little yellow box, red dashed line), which could be a sign someone with deep pockets has some...
Today's Candle looking good so far. On Macro, I have us currently in a Monthly "Inside" candle.....with a 3 week old Unresolved Engulfing, on the Weekly. Levels indicated here. Ultimately, we've been bleeding a long time, and it's ambitious to think the bleeding stops here....but IF IT DOES....7280, 7640-7800.....8.4-8.5........Re-take 9.6 and I'll even open a...
Bulls have gained some short term levels. I've listed the (imo) likely Bullish Pump incoming, along with the levels I anticipate we see Tug of War style fights around. Short Term Bullish, Macro still quite Bearish. if you're taking the Bull side of a trade in this current market, practice proper risk mgmt...and probably want to reduce typical trade size.
Bulls have stepped it up the past few days, but in the grand scheme of things, we're still in a largely Bearish Environment. In the ShortTerm, Bulls need to regain 8k, and even doing that doesn't put an end to this Bloodshed. But it certainly would go a long way to ignite those on the fence currently. Bears want to see this thing below 7.3k as soon as possible....
This isn't the reaction to 7620 I'd be hoping for, if I were a Bull. They had an opportunity there to really blast this thing up, and they didn't capitalize on it. Lower prices to come, IMO.
So, full disclosure, ADA is one of my favorite Alt Coin projects. This thing has been in accumulation for over 100 days now. When this thing pops....going 2x is going to likely be TP1....This thing has a bright future.
It's been looking rather anemic since $14k. Definitely a "Sell the Rip" environment. That Green Line on my chart, needs to be regained by the Bulls, to remind us this thing still has a pulse. Even if it achieves that, it's still a HELL of a way to a HH, we're talking $2k pump needed, AFTER regaining $7620. I've always been a cynic, I continue to favor the...
Those who know me, talk to me, interact with me Online and Off, know I've been calling for that $5440 for a while now.....We've finally got it in site. We've broken key support/MS on even the Daily at this point...... Orange is Weekly Levels.....Red is Monthly......Dark Green is 3 day levels....Pale Green is Daily.........
Looking like a possible fractal....A lot of confluence around these levels... A strong close over 3530 (1hr or 4hr at least), and I'd start feeling Bullish up to 3.9ish.......Failure to put a fight up like that.....I'm Bearish to 3.3 or lower... As always, Price Action will dictate my bias.
My chart says it all basically. Bulls looking weak, they need a SOLID CLOSE (1 or 4hr) above 3530 block, to even BEGIN to PRETEND to be Bullish.
Yesterday's defense of 3495.50 on BTC leaves us able to maintain near term Bullishness. A healthy correction is ideal, and welcome. 3530 is a level I'll be watching. Even a quick dip below to 3480 would be a nice opportunity to load back up on longs. A daily close below 3495.50, and we likely revisit 3.3 or lower.