With the world markets in Turmoil, Bitcoin has managed to bounce around 70% from its lows and we now find ourselves at round $7k at the time of writing. It makes sense to have a review of the market to see how things are shaping up.
What we currently know is that Bitcoin is trading below all the key moving averages and the yearly pivot, we know that losing...
Bitcoin lost the critical $9500 level and is now looking to retest an aread of confluence below namely:
- 200 day moving average at $8789
- The point of control of the whole move at $8600
- The 50% Fibonacci retracement level
- The 20 and 50 week moving average at c.$8500
- The CME gap.
In simple terms, i am looking to short a bearish retest of $9550 and am...
Bitcoin continuing to complete corrective phase to backtest $8k.
Pattern has repeated twice previously, both on the close, both to close CME gaps and both resulted in continuation into buying interest. See them attached for reference. Both made alot of money.
Weekly looks good to hold above the 20WMA which is critical on a macro POV.
Im interested in $8k-8.1k....
Nice Bitcoin pump yesterday but PA is miles from out of the woods.
Lets talk bull when these have been cleared:
- POC Resistane
- Diag Resistance
- Multi Week Resistance
- Monthly Open Resistance
- Weekly Open Resistance
Looking for a retrace to 6800-900 to see if we can get enough of a bounce to start asking questions about the resistance.
Bitcoin Failed at its attempted adam and eve meme reversal yesterday - was pretty clear in the OBV breakdown and now we have the POC lost and acting as resistance.
I am short from yesterday, looking for sub $7k prices before closing.
Logic is that although middle of the range there is quite a clear AB=CD objective to around $6800 which is also the 78.6% fib...
Hi Everyone – well what a week last week was, incredible stuff. For the second time this year Bitcoin made a move which left people completely stunned. Sure, the 61/8% retracement is a good place to buy and something we have been tracking for some time, but a 40% upswing in one day off the back of some China news is unprecedented even for Bitcoin given its...
Through 2019 Bitcoin has once again proven to be the best performing asset available to the masses, far surpassing the expectations of even the most bullish commentators in the space.
A staggering recovery from lows around $3.2k of 2018, accelerated through to highs of 13.8k - around 4x to its peak.
After such an impressive move to the upside, one which fast...
This is a continuation of the chart shared which helped be nail the absoloute bottom in 2018 please review the original chart and commentary for further explaination.
As a recap, as Satoshi said himself rightly pointed out that commodity costs are likely to gravitate to...
Two recent important pivot points for bitcoin in recent times - both with immediate differing outcomes, but ultimately both leading to the Inv . H&S taregt being reached.
Im now leaning to the more bullish 2018 after the breakout yesterday.
Drop a like / Follow on twitter.
Despite Bitcoin going ballistic, it does not mean we cannot approach this market with a calculated approach and avoid any panic.
We have some clear objectives and targets as discussed on the chart.
No need to panic here, develop an intermediate plan and stick to it to avoid panic.
Let me know what you think will happen next.
Follow on twitter etc for more...
The recent price action seen with Bitcoin attempting to break $9k (B) is a carbon copy the same as we saw when Bitcoin was attempting to break $6k (A).
There was bouncing between the 61.8% and 87.6%, before eventually breaking through and then extending out towards fib level 4.272 at $8.5k.
If we extrapolate that for the recent move at $9k then we get...
Bitcoin's Market cycle - One of the most defined textbook examples of the market cycle cheat sheet we may ever see.
The chart is self explanatory showing the cycles we went through and the final phase we are now completing - Return to the mean (which is the center line of the pitchfork using candle sticks)
Well this is how i will remember it anyway:)
There is some similarity between 2017 and 2019 in the way in which we bottomed from $5k->3k 2017 and broke back to $5k.
It took a lot longer this time in a bear market.
Overlay & Extrapolate that trend and Dec 2019 could be fruity if we can get over the Tether risk (which is significant at this point and i am very cautious about being long until there is more...
Ok so this is an unusual unforseen scenario.
This is how i plan to play it at this very early stage, preempting the information.
I have gone to cash (actual fiat not USD) and i am expecting a sell off on the BTCUSD fiat pair.
The reason why is because those people holding tether will want to hold fiat while there is risk in tether.
The way this will be...