themuzzman

themuzzman

Bitcoin is sitting nicely and working off some overbought indicators after the recent price advances. We busted out of the multi month downtrend line (all time highs) about 10 days ago. Glad to see if putting in the time, building a base off the pennant breakout and then breaking out again 3 days ago. Price is acting well but $9,000 has been difficult to get...

themuzzman

Well actually your guess is as good as mine.... Love seeing this long, multi-month downtrend being broken to the upside. The fact that we haven't been smacked down back into the bearish channel is definitely good news for the price. Finally on the chart we can draw another long term trend line that BTC is meeting right now and is hugging pretty closely. I...

themuzzman

I don't follow this stock and it was a friend of mine who pointed it out to me. There is a massive amount of pain in this stock chart. First off, you had a bad, bad break of the 200 day moving average all the way back on January 23rd. If you were watching the charts, this should have been a pretty good signal that something was up with the stock. You also...

themuzzman

Now I ain't crazy.... and I ain't a psychic... But I drew this yellow line yesterday as a potential first level of resistance if the DGB price did finally break through the 200 day moving average. And it looks like that's exactly where the price stopped today. All in all, Digibyte had a great day though. Busting above with pretty decent volume accompanying...

themuzzman

BITCOIN: Well, With about 3 minutes left in the candle as I'm writing this.... it's nice to see a solid green candle that could have ended much worse. Early this morning we were down pretty decently and the price reversed higher on the day. That's a good sign to me. Bulls are chasing off the Bear attacks pretty well here. Most likely outcome is that it...

themuzzman

Unlike Bitcoin, DGB somehow narrowly printed a green 1 today and we are already trading with a nice green 2 on the chart. This is exactly what you would have wanted to see out of Bitcoin today.... But, it didn't happen. DGB actually managed to pull this off and we're at least "setup" for some "bulls on parade" type action. Now let's not get too excited...

themuzzman

Well.... I would be lying if I said I wasn't a little disappointed with today's action. I was expecting a nice green 1 candle immediately following Sunday's red 9. I wasn't too worried about Sunday's red 9 profit taking candle because we had a nice run and it was due. Everything needed to reset and this was the perfect time for it to do so. Best case...

themuzzman

Digibyte, along with most of the cryptos that are actually acting well all had 9 counts on the TD Sequential Indicator. All in all, nothing to really worry about. Just the move was exhausted and this is where profit taking usually occurs. Literally, the exact same action as the Bitcoin chart. Which to me, is rather healthy. This is giving the overbought RSI a...

themuzzman

Have no fear... well, actually maybe a little. But all in all, we're looking OK here. As mention last night, we hit a 9 on the TD sequential indicator. It's normal for profit taking and the move to pause (in either direction). Now that the 9 candle has come to a close, we could continue the upward move. The recipe for a "buy signal" on the chart would be a...

themuzzman

Being completely objective with the chart here but LTCUSD looks horrible in comparison to the other crypto charts. BTC, ETH and a ton of shitcoins have all broken out of the multi month downtrend channel that started back at the all time highs. Most have had bullish MACD crosses and are above or at least challenging their 50/200 DMA. Can't say anything like...

themuzzman

The Digibyte price is stalling at the 200 day moving average. It was able to briefly trade above it yesterday but was rejected. This move coincided with the same action on the BTCUSD chart at the 50 day moving average. Also happening simultaneously is the daily 9 forming on the chart while using the Tom Demark Sequential Indicator. This is usually normally the...

themuzzman

Bitcoin is FINALLY trading outside the long downtrend that started back at the all time highs! What happened? The price touched the 50 day moving average and was smacked down. There is also a 9 sell signal from the Tom Demark Countdown which generally results in some profit taking. It's normal to see the price pause here and digest the recent bullish action. ...

themuzzman

Digibyte is at a crucial breakout point on the 4 hour chart. This saucer formation started on March 12th and we're finally testing these levels today. A move out above this resistance point here should have some legs to get the price to the 3.5 cent level before pausing to at least digest the move. The RSI is flirting with overbought territory so that may delay...

themuzzman

Dare I say it with about 8 hours left in the trading day and before this candle closes...... but this will mark the first day that Bitcoin has closed outside of this bearish downtrend channel that formed back at the all time high. The most likely outcome is that we continue to rally higher into the 50 day moving average around the $8,600 level. This can...

themuzzman

There's a lot going on in this chart here. Bullish Case Digibyte has closed above the 50 day moving average for 2 consecutive days and it was above average volume. The volume acts as a good confirmation that this was a meaningful move and as long as we can hold the 50 DMA, we should be in good shape. If anything this should act as support if the price gets...

themuzzman

Bitcoin for the first time since it's all time high is breaking out of the downtrend channel. It won't take much for the bulls to come out and push this to $8,500, where it will meet it's 50 day moving average and will most likely stall or be rejected. What do you think?

themuzzman

Nothing is certain.... However, DGBUSD forming a nice saucer like pattern on the daily chart. This started forming around mid March and is at the upper end of the saucer. A breakout here + it's meeting of the 50 day moving average is a critical point in this chart. A move higher and accompanied with some decent volume should make for a nice move to the upside. ...

themuzzman

Digibyte has been testing the 50 day moving average and has been showing relative strength. A break through here with meaningful volume could send the price much higher. What do you think?