Thy Most Wonderous BTC Predictions! Call me Nostrodamus - WOW!
Updated
If you've been following my BTC/USD analysis recently, you'll notice I've been saying WOW a lot... I'm assuming that you have also been saying WOW since everytime I post a chart analysis BTC does EXACTLY what I say it is going to do. How do I do it? How am I up 110% on my portfolio over the last 7 days?
Well.... I don't make long term predictions. I do my own research. I don't yell "TO THE MOON" with the rest of the crowd. I look at the the charts, and I take other's charting analyses with a grain of salt. I look to see if they might be seeing something that I am not and factor that into my analysis... but I stand by my final predictions and stick too them, REGARDLESS of what everyone is saying.
I called a double top, and I called a head and shoulders before the right shoulder even formed. They have now been confirmed and then some. Not only was there a close beneath my proposed neckline and double top line, price has now returned to test the bottom of those lines to test them as resistance.... and they have resisted... WOW!
The price of BTC is a little attractive to a lot of buyers out there right now so we could see some range bound trading around here. I just see SO MUCH overhead resistance that we would need to see some very decisive buying volume to get any decent increase in price.
Over head, we have to head and shoulders necklines, we have fib lines, and we also have the double top line.... we're not even factoring the EMA's but they're are a lot of points of possible resistance within a very narrow price zone, that I don't really see a move up in the near future. I've been Nostradamus for the past couple of chart analysis' but that doesn't mean i will be Nostradamus on ALL of them.
I'm short on Bitcoin at the moment but I don't recommend it to anyone because I've been making some high risk trades lately. Let me know what you guys think!
Well.... I don't make long term predictions. I do my own research. I don't yell "TO THE MOON" with the rest of the crowd. I look at the the charts, and I take other's charting analyses with a grain of salt. I look to see if they might be seeing something that I am not and factor that into my analysis... but I stand by my final predictions and stick too them, REGARDLESS of what everyone is saying.
I called a double top, and I called a head and shoulders before the right shoulder even formed. They have now been confirmed and then some. Not only was there a close beneath my proposed neckline and double top line, price has now returned to test the bottom of those lines to test them as resistance.... and they have resisted... WOW!
The price of BTC is a little attractive to a lot of buyers out there right now so we could see some range bound trading around here. I just see SO MUCH overhead resistance that we would need to see some very decisive buying volume to get any decent increase in price.
Over head, we have to head and shoulders necklines, we have fib lines, and we also have the double top line.... we're not even factoring the EMA's but they're are a lot of points of possible resistance within a very narrow price zone, that I don't really see a move up in the near future. I've been Nostradamus for the past couple of chart analysis' but that doesn't mean i will be Nostradamus on ALL of them.
I'm short on Bitcoin at the moment but I don't recommend it to anyone because I've been making some high risk trades lately. Let me know what you guys think!
Note
Price has been testing top of the major downtrend for several hours now. Bears holding it down but I have to say it is making me a little nervous that price could possibly break through. With that being said I have a stop loss a little bit above the down trend line to minimize my losses should a breakout occur. I'll be sticking this one out and if I take a loss... well, it's part of the game. Mitigate your risk with stop losses at all times.
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