zendaddy

zendaddy

I'm a crypto bull long-term. But I'm learning not to fight the trend. Bitcoin is still in a downtrend. Clearly, there was good profit between 6000ish and 11,700ish levels. Be cautious with your trading until the downtrend is broken and a new uptrend is established. Also note the negative divergence on the RSI as a signal of the last 3 major downturns.

zendaddy

Downtrend resumed with vigor Past 1.0 fib retrace Into bonus territory Next major support ~34.16 Don't try to catch this falling knife

zendaddy

Support trend broken last week around 197.40 That line is overhead resistance Weekly RSI support broken as well Decline has legs to 190 and beyond

zendaddy

Came back to 50EMA Did not go past .5 retrace of previous swing. Resistance confirmed on RSI Retrace completed. Enter short.

zendaddy

* Failed at .236 retrace level * Downtrend from Nov still intact * In a symmetrical triangle * Going to break up or down?

zendaddy

* Strong support from swing high, trend, and 50dma * Go long on reversal from about 105.30 level * Target 110 heading into earnings

zendaddy

* Negative divergence on weekly chart: Highs on cup occur at declining RSI * Descending triangle on daily * Expect this to head south * Enter position on candle below 115.58

zendaddy

* Strong downtrend continues * Expect this one to continue to sell into earnings that are getting slice further * Use pauses (such as at the 560 level in early Dec) as short entry points

zendaddy

* Weekly trend down throughout 2015 * Lots of chop * Yahoo Finance article on 12/30 says "reached its 50 day moving average in a bullish manner". Sorry guys, did that 8 times in 2015. Until it breaks the channel, it is in a downtrend.

zendaddy

* Downtrend on weekly continues * Downtrend on daily continues * Back-testing breakout on descending triangle * Enter on next close below triangle or (if cautious) below 40

zendaddy

* Forming a long handle * Rising short-term trendline creating triangle * Wait for break above or below to trade

zendaddy

* Weekly is in uptrend * Daily is in strong uptrend * RSI is oversold * Pausing at swing resistance and .382 retrace level * Wait for strong break of 72.84 to resume long position

zendaddy

* Strong uptrend intact * Full retrace near completion * Look for continuation beyond 52wk high of 564.86

zendaddy

* Reversal underway on daily * Watch for resistance at RSI=50 on weekly

zendaddy

* Double top around 190 * Retrace well underway * Tight stops, possibly bounce at 50dma

zendaddy

* Broke out last week * Now back-testing .618 retrace level * Expect support to hold at that level

zendaddy

* Uptrend continues on weekly * Breaking up out of symmetrical triangle * Daily chart shows short term GMMA bouncing off long term GMMA * Hourly still in sideways pattern Enter on clear bounce of ST GMMA away from LT GMMA

zendaddy

* Slow and steady wins the race? * NTES continues to beat earnings estimates * Long with tight stops because of market conditions