pokp

pokp

6500 is being tested for the second time. While it is really early for a reversal, a short term pop to 7500 could be an interesting risk to reward with a stop loss at 6500. If the second or third test falls just under 6500, then expect a dump and pay attention to where it bottoms out to clearly see what kind formation is coming. Possible formations and...

pokp

We are about to "death cross" on the 200/50 daily. Consider that previous "death cross" was never as severe, lasted from 4 and 9 months respectively. The parabolic downtrend line is about to break, so we might see higher prices in the next 24 hours, before diving down again. We should fully expect a drawn out "death cross" down trend to last 2-3 quarters at...

pokp

What i thought might just be a light dump, turned into a huge breakdown with record volume confirming a Bear market. No bulls should be touching this, rather should be sitting on the side lines right now to cool off a bit. The huge spike in volume confirms the downtrend, rather than a blowoff top or bottom. If we interpret the huge volume as a bear trend...

pokp

With this last downleg, we have hit the 0.5 fibonaci level, in one break out. and it its not over. If this is the beginning of a longer term downtrend, after we break support, the next support seems to be around 10/7/5 dollars, where I think volitle accumulation will happen, before consolidating around 10$ and moving again. Look for one or two weak impulses to...

pokp

Increased volatility has led to broken supports, making the cup n handle formation less likely. While price could still find a bottom just above 7900, its unlikely to result in bullish action to test the previous high above 10K. We have pushed past the 0.5 Fib between 6500 and 10300, yet no dead cat bounce into support to suggest a reversal to form a bottom....

pokp

Bulls play to 12K and beyond! If we can just break past 10300.... We are just starting to make a handle, and maybe starting the bottom. If there is another significant impulse that pushes and keeps us below 8150, then the teacup pattern is unreliable. I think there is a good chance that the price will continue to climb. If we can finish the handle pattern, the...

pokp

Bear dump's are the freshest, but lets wait for the poo to cool first. Recent setup: Attempt to test the high fell short with a low vol top, resulting in a breakdown with expanding vol. New support at 8700 We could see another impulse to 8500-8300, then a sideways channel that could break either way. Should you buy or wait for better prices? More...

pokp

Recent milestones: -tested the previous high to finish the cup @ 10400 -passing into golden cross zone with the daily 200/50 MA -Currently in pull back, looks like an early cup n handle formation Trading strategy: scale into a long position after we find a handle bottom Conservative strategy: wait for the handle to finish before taking a position quickly If...

pokp

Bull #1: Break out of 6 month down trend channel confirmed. Bull #2: Inverted H&S extension, with volume increasing from the price bottom. Bear signal: Bounce off the 200MA, we are still in death cross zone. Miner war fundamental facts: Difficulty is going parabolic, which means machines are being sold and installed. Miner revenue will be cut in half after...

pokp

Strong news has pushed crypto to test resistance at 4200 for the third time, and is likely to break out in the next 10 days. However a weak breakout could be the start of an ascending wedge formation, if the second impulse fails to clear 4300. If it breaks strong with volume to 4500+, then the pennant breakdown theory is invalidated. However if it breaks out...

pokp

A channel has been created since the last significant drop down, and is meeting resistance at 4000. This has been tested twice, with higher lows on each drop. I expect 4000 to be broken on the next test, but I do not think there will be enough strength to push significantly higher than ~4200, failing to reach a 1.618 extension at 4700. In this case, the pennant...