Good morning my fellow Bitcoinistas! The 30 minute chart for Bitcoin is in a descending triangle. A break either way is entirely possible. I know right? Not much help. Often thought of as bearish, but also has some bullish potential depending on the market. With Bitcoin who knows? Stay frosty! For more info see: thepatternsite.com/dt.html
Hello my fellow Bitcoinistas! For those of you who follow my work you know that I have been long for a very long time. All the way from the bottom around $3200 and have added longs to my position at strategic points on the way up. Occasionally I have scalped a few bucks here and there but mainly remained long. I am 100% long at the moment after scalping a few...
If you forced me to do an Elliot Wave count I think it might look something like this on the weekly chart. I still don't think we are going to get the crazy 30-40% pullback the bears are calling for right now but maybe we will see a decent retrace when the ABC correction follows the blue wave 5. Does that mean I'm going to sell out? Nope! It just means I might...
If it breaks North with conviction you know what is going to happen and if it breaks South with conviction you know what is going to happen. How you play it is up to you. Good luck!
We are out of the triangle but this line seems to be the line in the sand right now.....
That's right, after 10 years of selling Bitcoin the Initial Coin Offering ( ICO ) is almost complete. You have had a little over 10 years to hodle together a long position before worldwide adoption and usage. From the days of buying fractions of Bitcoin off eBay to buying pizza with BTC, to multiple Bitcoin Exchanges worldwide, to Futures markets, to Mega-Corp...
Hello my fellow Bitcoinistas! The week was a heck of a ride was it not? I know we still have a couple hours to go before this week's candle official closes but I'm going to go ahead and call this a green week. lol. For those of you following my work you already know this chart pretty good. For those that don't you will notice that after the previous breakout...
That's what this chart says anyway..... From the bottom of the flag pole, (start of the move) to the top of the triangle (end of the move) is over $1,000 New target is the top of the triangle breakout plus $1,000 That makes $12K the new target. If you agree, smash that like button!
If I am reading this correctly this is the first time since $3,200 that the Bitcoin Shorts chart is actually going in the OPPOSITE direction as the price of Bitcoin. It did not start doing this until AFTER breaking $10K. Before $10K, the short positions would increase as the price of Bitcoin increased. It has been doing this since about $3,200. Anybody...
Good morning my fellow Bitcoinistas! I have something to say that I think is important and may be helpful to the young people and new traders on this platform. For all you crusty old life-long "traders" this probably won't mean squat to you. I'm sure you've seen it all before so please disregard. But many of you new people are here to trade crypto right? ...
If this 30 minute triangle breaks North we may very well breach $10K tonight. If not tonight, I think we will all wake up to a resolution one way or the other. You already know which way I'm leaning. :0)
I think it may be time to go poke the Bears in the butt again so we can get out of this triangle. Excuse me.....
When this breaks North the minimum target is about $10,400. 10-4 Do you copy? BBS out!
IF this triangle is valid there should be one more leg down to the bottom of the triangle (Point D) and then prices should climb back out of the top. Is this the setup for $10K plus? Could be. Problem is, I don't know exactly where the bottom of the triangle will hit. We can guess but it's only a guess. If one were to trade this they might try waiting for the...
Hello my fellow Bitcoinistas! We still have a several hours left in this week but I'm going to go ahead and post my weekly update for Bitcoin. For those of you following my work you are already very familiar with this chart. You know when we hit bottom. You know when we broke out of the large cup and handle. And you know when the 20/40 weekly MA crossed. You...
Good morning my fellow Bitcoinistas! As a write this post there is a special on Good Morning America talking about Bitcoin, Facebook, etc. etc. etc. The Winklefloss twins are on there saying that at one point they were trying to buy up to 1% of all Bitcoin etc. etc. etc. Their "Ah ha" moment with Bitcoin and why they started Gemni etc. This ties in perfectly...
Here's another way to look at the current situation. I've been looking for a future breakout. Maybe it's already happening.... Good luck!
If the shorts continue to get squeezed it could add a lot of fuel to the Bull rally. If this daily chart is a valid H&S pattern and it breaks the neckline South watch out!