chartingman43

chartingman43

Dovish policy of the feds coupled with the strong bullish reaction of the stock market since the fed funds borrowing cuts means the rally can continue. But how long is difficult to say. While some argue we can continue to be bullish and avoid a bear market, that sounds hard to believe and unreasonable. But for now its best to long to these areas, and only...

chartingman43

Fundamentals : Bearish: Minining Difficulty have pumped again to highs , up a further 9%. Miner capituatlion possible short term. Transaction costs also near June 2019 Peak and crash followde NVT signal glowing red strengthening dollar Dollar sttrengthening Bullish: Sports Bar CEO gave bitcoin big exposure Hedge funds have allocated bitcoin to there portfolio...

chartingman43

Indexes appear to be topping out and the South african Rand is a hedge against it. A bull position or call option on the Rand can be good hedge as we have a double bottom appearing to be formed and we see the 4hr RSI showing a bounce

chartingman43

Weekly bearish divergence seemed to suggest to some degree a top at the 11k area for this near parabolic rally. If that is the case we could see a deeper correction within the next few weeks Initial correction to the 8.3-8.4k zone rapidly followed by a pump to the 9.4-9.5k and either that resistance breaks and the moon ride continues OR we break previous March...

chartingman43

As I stated earlier in my posts the dump from the original rally 9.7-9.8k was a bearish sign and i was expecting a pump to the 9.2-9.3k after it hit 8.9k, but we rallied more then expected to the 9.4-9.5k area I feel that right now the markets are going to adjust to price in corona lingering. While bitcoin is not really affected by corona, since it follows the...

chartingman43 Updated 

Market looks to be topped in. Those are want to hold on to shares should hedge with a vix call option. Target is 50-52, which would coincide with a rapid 8-11% drop within 2-3 days

chartingman43 Updated 

Btc plan

chartingman43 Updated 

I posted a long idea a few days ago to long the dip due to being a contrarian. The time for the pump however has long since passed. A bullish scenario will have us 25-30% correction while a more bearish one can see us go all the way down to 4k. Breaking support is not that likely there is very little risk reward benefit to longing right now since we broke the...

chartingman43 Updated 

Price is 8.9k and a lot of people have made very bearish calls. Given the economic situation and bitcoin spx correlation, we can definately see that. That being said its important to remember last crash we spent nealy 2 months in denial of the covid situation. Even after it spread to italy and caused hundreds of deaths, market went up.. Even when a lockdown was...

chartingman43

Considering how bullish the market has been one more fake out to the upside is a possibility. Momentum has definitely shifted but I can see a small move to the upside due to many short positions shorting the trend line and maybe getting squeezed and the gap up.Not all gaps get filled but a fair amount of them do.

chartingman43 Updated 

Recently the market has bogged a lot of people. 2 fake break outs on June 10th and June 22nd. They seemed promising but S and P 500 correlation saw btc drop when indexes dropped. Thus index analysis is important for btc analysis.That being said now days the less obvious move is what the market has been doing. Things can still be bullish to a retirement to the...

chartingman43

Bitcoin broke downtrend resistance. Market buy btc. Consider loading up on bch/ether as well for alt coin portfolio.We are going to the moon

chartingman43 Updated 

Right now the price has been slightly dipping for the last 5 days from the 9500 region. Currently there several scenarios I can see Bullish Scenario 1: Wick to 8950-9000 region where a double bottom is formed and the bull run continues to take us to the 11k region Bullish Scenario 2: Price corrects itself to the 21 weekly EMA zone as it did several times in...

chartingman43 Updated 

Long 131.5-133.1 Stoploss at 131.4 (0.95%) loss Targets 141-144(7-9%) Timeframe: 14-18 days Risk Reward Ratio: 1:7, 1:9 The lose stop hunt is in case there is a fake break down to the 131.4 region followed by a rapid pump. A tighter stop with more lev can be placed at 132.25

chartingman43

Since May 7th there have been 3 tests of the 10k region without follow through. The most recent attempted was rather surprising as the ascending triangle formation with lower highs and higher lows seemed imminent to forecast a 10K+ break, but we broke down that formation ( shown in green circle. I was bullish till this failed breakout happened, making me feel more...

chartingman43

Oil has made quite the move, rallying nearly 330% from the huge wick low of 6.6$ and 150% from its 10.5$ low. Now Oil has formed a ascending triangle. Ascending triangles are a signal of high volatility to come. To play this smart here are some options Long the Ascending triangle with a target of 31-33$ ( roughly 20% up ) and given the prior huge rally higher,...

chartingman43 Updated 

Hidden bullish divergence spotted on the RSI/CCI. We can see the price rebound to 9500-9800 area, which would be a good entry to reshort. Potential Ideas Long scalp Entry 8550-8650 Stoploss 8300 Targets 9500-9800

chartingman43

First lets look at Price Scenario 1-Mirrors 2014-2015 crash where bitcoin went somewhat mainstream (but still not too well known contrary to 2017 )to some degree. -Price did 1168$ to 153$, a decrease of 87% -Using the bit stamp bitcoin price high of 19665, a decrease of 87% will be $2555 Scenario 2-Mirros the worst bubble of all time, 2011, where we did a -93.7%...