How fast does news travel today? The speed of light? How fast do Internet memes get around? minutes, hours, days, weeks? Not long at all. How long does it take a viral YouTube video to spread around the world? No time at all. How long does it take for a black swan event to sweep through an already shaky financial system? Does 2008 come to mind? Now that...
We never actually touched the Fib extension yesterday. We got close, but didn't actually touch it just under $9K. Is this their attempt to rectify this problem and then continue higher? Nobody can say until we get there. I can say this with pretty good confidence, if we break $8.9K or so we are very likely to continue down to the next fib level around ($7.8K)...
A lot of technical damage has been done recently. RSI, MACD, broken trend lines, upper support levels, etc. indicating that the trend is changing short term. Further downside is certainly possible and may even be probable, however not without a correction to the correction. Nothing goes straight up or straight down forever. BTC is reaching a key point of...
I'm short on time but wanted to post what I am watching today. My buy orders are in place for the Fib levels noted. I still think we will come down to at least the first level before making any kind of significant run north again but could also come down to the second level as well. These are two price areas I think will be acted on heavily if they are...
We are obvious on the last leg down and my best estimates at this point is that we have 3 options. Option 1 - If this is a mild ABC correction the price will turn around $9,640 At this fib level we know the ABC is finished and we continue to move up. Option 2 - If this is a little deeper ABC correction the price will turn around $9,022 At this fib level we know...
I'm not convinced we will break $12K. This move looks corrective rather than impulsive. If I were long, which I am not, I'd make sure I have a stop to protect my profits. If this move fails and turns south the next target is around $10K or a bit lower. We won't know for sure until we get there... It's time to shit or get of the pot sort of speak.
Get ready for a decision. A long attempt off the bottom of the triangle with a tight stop may be worth the risk if this thing turns to go higher. If we fall out of the bottom of the triangle any kind of touch back to the bottom line would be a good short entry with a stop back inside the triangle. No matter how you play it, good luck and protect yourself.
I don't get paid for posting here so it really is a net loss for my time. In other words, there is no benefit for the time invested. I have no tip jar. I have no bullshit courses to sell. I have no YouTube Channel to monetize etc. So, 7 or 8 up votes out of 250+ views is just not a worthwhile endeavor. In other words, there absolutely no personal...
If this is another valid ABC correction that just finished instead of Wave 1,2, and the start of Wave 3 then we should see better prices going forward IMO. Still long my core position but took my trading profits around the top of what may be the completion of Wave C. Of course this is just one person's opinion. Many are still calling for $14K or higher right...
I still have my core long position, but went ahead and took my trading profit at the 78.6 Fib. Can we go higher? Of course. But we can also pullback at any time. It's hard to say exactly which will happen first so I went ahead and put the money in my pocket. Like they say; "Nobody ever went broke taking a profit" No matter how you play it, good luck!
Hello my fellow Bitcoinistas, No fancy Sunday chart today. I want to put out something that may be more important. IMO buying bitcoin right now may be your best bet move going forward. Why? 1. The long term yield curves have inverted, AGAIN. Last time 2008 right before the last financial crisis. They pay more short term than long term. Think about it. 2 ...
My core position is still long, but the remaining part of my account is in cash. So long as Bitcoin will not make up its mind, neither will I.
Is this channel valid and is this a bull trap inside it? Only time will tell.... $10,600 has got to hold to keep this run up valid and we have to break out of the channel and stay out. I still have my base long position and a pile of cash. Just waiting for the right opportunity to add to my longs.
Just a quick observation. It may be possible for the correction to end sooner than expected. Another perfect opportunity is on July 5th right after the July 4th Holiday to not only fill the CME Gap but also bounce off another closely watched trendline. See target area. So, to upgrade my weekly update it is very possible for this correction to finish as soon as...
"Ladies and Gentlemen, somebody on board forgot to pack their moon boots. We've been asked to return to the launch pad to retrieve them. Your continued patience is appreciated. Please extinguish all smoking materials and return your tray tables to the stowed positions for reentry. Thank you" If you read my weekly update you already know I am calling for lower...
Good morning my fellow Bitcoinistas! I know the weekly close is over 12 hours away but I wanted to go ahead and put out my weekly update so you have the information in advance. I'm going to try to keep this short, to the point, and just hit the high spots. I will add a link to last week's update for anybody not following my work that wants to see the previous...
Hello my fellow Bitcoinistas! Not much time, just a quick update on what I've been up to. I took this opportunity to raise some more cash for the next dip if we get one. If we don't, and the price runs North non-stop, I will walk away and let the rest of my Long position ride. See the circle for my exit. Right under the .618 fib and the mid-line of the...