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Goldencross

Bitcoin Daily Update (day 327)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business. Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge Consensio: Price being squeezed in between M EMA and L EMA. If breakthough the 50 EMA then a golden cross will follow / be a very attractive entry Patterns: Phase 7 hyperwave | Starting to look like A&E especially on 3d and W | 4h bull flag Horizontals: R: $3,650 | S: $3,569 Trendline: Keeping my eye on this bull TL Parabolic SAR: $3,375 (right in line with the TL above) Futures Curve: Backwardation with 0.78% spread BTCUSDSHORTS: Watching for double bottom or new local low Funding Rates: Longs pay shorts 0.01% TD’ Sequential: R3 = R2 Ichimoku Cloud: Think cloud above 50 EMA represents little resistance if we can break that area. Relative Strength Index: > 50 Average Directional Index: Pulling back from 25. Watching for support > 20 Price Action: 24h: 0.9% | 2w: +4.3% | 1m: -1.1% Bollinger Bands: Flatten out / squeezing with P > MA Stochastic Oscillator: Daily sell, weekly buy Summary: What a day it has been for me! Around 2:00 this afternoon Leah Wald contacted me to ask if I wanted to be on the Hyperwave Podcast at 4:00 and asked me to prepare roughly half a dozen hyperwaves to discuss. I was tremendously excited immediately accepted. Then I got quite anxious because this was the first time I have done something like that and I had very little time to prepare! When feeling that way I focus on getting into the moment, so I quickly decided to do some meditating, hit up the gym / steam room and eat some lunch before putting together a few charts to discuss. I pride myself in thorough preparation and having less than 1 hour to put charts together made me feel very uncomfortable. However I think I pulled it off pretty well! Don’t think I can share a link so if you are interested go to the Hyperwave channel on Youtube and check out the episode titled: Sawcruhteez and Several Hyperwaves Head is still spinning from that experience. As far as I can tell I am only the fourth guest they have had on the show. Following the likes of Tone Vays, Saifedean Ammous and Ugly Old Goat made me feel extremely honored! If you enjoy the show then be sure to let them know and they might have me on again! Back to the charts… Things have been starting to look more and more bullish over the last 24 hours. The chart posted today is the 4h and that is very interesting to me. Price is consolidating into a bull flag, above the 200 EMA while it postures for a golden cross with the 50 EMA. If that happens it will be the first such Golden Cross since September of 2018. That is the type of indicator that tells me we should be in for a large rally (dead cat). ETH:USD is in a very similar posture but has already gotten the golden cross. This is coming after it appears to have broken through a 7 month bear channel / trend. I added to my ETH long as soon as that golden cross happened and I am expecting it to lead the market into the next big move. XRP is also ripe to pop and either of those large cap coins could absolutely lead a charge that brings BTC back to the $5,200 - $5,800 area. On the other hand if we do not get a strong bounce from here then look out below!
BITSTAMP:BTCUSDLong
by Sawcruhteez
7
TY1!: Bullish flag patternApologies if I have been focusing too much on the bigger macro picture but I am too busy with some projects to do individual stock screening. Nevertheless, if you have been following my posts, you would know I am of the view that we are in the midst of a major inflection point (check out the Preponderance of Evidence series and DM me for full written report if interested) so it is more important to get the big picture right. Essentially, the TY1! has:- #1 bounced off a key long-term support from 1999, #2 had a golden cross (50-dma vs. 200-dma or 100-dma vs. 200-dma) #3 been consolidating in a bullish flag which happens to be a continuation pattern. I am using a version of Daryl Guppy Multiple Moving Averages ('MMA') to complement the bullish continuation flag pattern; The MMA utilizes 2 group of moving averages, 1 fast, 1 slow, to track trend changes as well as trend strength. In the TY1! case, the MMA long-term moving averages are not showing any signs of compression which suggest the up trend is intact. Indicative ABCD upside potential is for a move up to $126.20.
TLong
by WellTrainedMonkey
Dash sees bullish surge after inv h&s/4 hour golden cross comboDash has had an incredibly bullish last 2 days after triggering a 4 hr chart inverted head and shoulders pattern and following it up soon after with a golden cross on the 4hour chart as well. Now may not be the best time to go long on Dash however as it is just now seeing a slight bit of red and seeing as how it has reached well above the inverted head and shoulder breakout target, a small retracement may be due before more upside...It's best if you aren't already in a dash position here to wait and see what its next move might be....the 4hr stoch rsi is definitely at its ceiling here but on a bull run that doesn't always matter. I will be watching to se whether or not it tries to complete a cup and then retrace to create a handle and also be keeping a close eye on the 1 day chart(not shown here) to see whether or not dash can get the coveted dashbtc 1 day golden cross...the 1 day golden cross has coincided with several other alts' bull runs the past few months so this will likely also be the case for Dash as well. A definite coin to watch...only reason this idea is neutral is because it is currently due for a small retrace. Jumping in on DASH slightly after the retrace seems like a good point to get in for anyone who isn't already in.. but its also possible that it may not retrace until it is finished forming the cup on the 1 day chart. If so patience and timing is key FOMOing in erratically is never a good idea. Just my opinion though so don't mistake this as financial advice :P It is -NOT-. Thanks for reading.
by DrDovetail
MYOS Running out of JuiceAlas, she couldn't break through the upper resistance trend line this time around. I think she's run out of gas and needs a pullback to refuel. RSX shows a sharp peak and rapid decline, and DPMO shows a textbook false top > actual top > crossover. The trend remains bullish but needs to cool down and give it the opportunity to gradually build some positive momentum. If you're long or looking at opening a long position, watch out for the bear kiss (a quick price climb where the PMO line comes back and touches the signal line); this is typical of a price momentum reversal and could very well leave you bagholding for a while. I foresee a small pullback (maybe to 1.60 or so), and a quick bounce near upper resistance (approximately 1.90) (this would give us the bear kiss on DPMO, and likely initiate the ttm squeeze), then a sharp drop to approximately the 0.786 fib level, followed by some more consolidation in the range between 1.34-1.59. I would love to see a double bottom at 1.29, then re-establish support on the SMA200 and eventually the SMA50. So long as these two don't cross back over each other, I'll remain bullish on this ticker over the medium- to long-term.
M
by LDC870
2-for-1 Bullish SetupThe daily chart offers two long setups with indicators firing almost simultaneously. On the top left, I hid the candles to display only the EMA20 (green), SMA50 (turquoise) and the SMA200 (red). You can see the price action on the top right chart with the TTM squeeze overlay included. We've got a good old-fashioned SMA50/200 golden cross with support from the SMA200. MACD shows momentum trending upward again; the RSX indicates a strong positive trend but not yet overbought; and volatility has bottomed out and looks ready to bounce at just the right time. The bottom line of the keltner channel is rapidly converging on the bottom BB, and the daily candles look ready to bust out of the top of the squeeze. Also, the A and C waves are positive and in agreement. I'm going to wait on a market or limit buy in case this ricochets off the top band one more time for another wave of consolidation; however, to make sure I don't miss the boat, I'm setting a stop order to buy at 11.25. if you want to do the same thing and play more conservatively, you could set the stop at 11.50-11.60.
ULong
by LDC870
Diamond bottom has triggered with a 1hr chart goldencrossAlthough here on the 4hr chart the volume does not look notable, if you zoom into the 1 hr chart you will see a big volume spike that lines up exactly with the recent 1 hr golden cross. We have not yet hit our projected breakout target of the diamond bottom pattern which makes me think we have one more small bullflag breakout upward from here to around 3850 before we form yet another lower high and continue to the downside again. So I'm technically bullish here but very very temporarily. We have found a way to have price action crawl above the 1 day 50 ma and currently that ma is overlapping one of our horizontal teal trendlines so as long as the 1 day 50ma has flipped to solidified support it is likely a double reinforced support. One more bullflag break upward to 3850 will reach the diamond bottom target and will likely head downward from there considering we appear to be repeating the previous diamond bottom fractal from a week or two back. I am watching for 1 day 50ma to hold support if it doesn't then I think we could head immediately back down. If we hold the support I think one more bullflag leg up is likely but overall I think we are still heading back down ultimately even fi we do break one more leg up so because of that I will leave this idea neutral.
BITSTAMP:BTCUSD
by DrDovetail
Verge on the precipice of an inv h&s golden cross combo breakoutI did not mark this idea long or short....we are simply on the precipice of either a huge bullish move for verge or a massive bulltrap fakeout. if btc breaks upward then xvg will likely trigger this inverted head and shoulder breakout which would lead to a golden cross on verge on the 1 day chart which has a breakout bull target of an over 50% increase, but if bitcoin breaks down it will be both a fakeout of the inverted head and shoulder pattern and likely the golden cross as well see the blue line directly above the inverted head and shoulder pattern? thats the 1 day 200ma and we can see it already dealt a firm rejection to the priceaction earlier so which always increases the likelihood of a fakeout..not wise to buy verge here unless you see a breakout that flips the 200ma from resistance to support and also solidifies it as support as well if that happens and you see bitcoin have a bullish breakout too then its probably wise to enter a position on verge but until then expect a fakeout. Inverted head and shoulder patterns in a bear market are usually patterns painted by the bearwhales to set the ultimate bulltrap fakeouts with *not financial advice but simply self advice that anyone else is allowed to consider* thanks for reading!
X
by DrDovetail
inv h&s breakout on LTC. Could lead to 1day golden cross + c&hCheers to my friend @XPCollector7 for bringing this one to my attention. We can see Litecoin is now triggering an inverted head and shoulder pattern that will, if we can maintain support above the 1 day 200ma(in blue), continue much further upwards from here...the next big line of resistance is the turquoise horizontal line here but the inverted head and shoulder breakout target has us going well above that. that same horizontal line could be a rimline for a fairly large cup and handle pattern so hopefully we do reach the full inverted head and shoulders pattern as it would likely trigger a cup and handle breakout too. We can see that if we continue this bull momentum to that range the trajectories of the 1 day 50&200mas suggest a 1 day golden cross could be well on the horizon which would lead to even more upside. Currently however the 1 day stochrsi is nearing the overextended zone which may see the price consolidating sideways a bit until it can cool off the stochrsi for more upside...however I think the stochrsi currently has enough upward room left to maintain support above the 1 day 200ma which is crucial in order to trigger all the other bullish possibilities. Of course this is all just my view on it and not financial advice but I do thank you for reading and wish you all the best of luck with whichever strategy you decide to execute.
Long
by DrDovetail
4hr golden cross incoming; just broke above inv h&s neckline.we just experienced a sizeable 4hr candle to start the new daily candle but so far not much volume to go with it yet on the daily... this could be a major bull trap we have technically broken above the neckline of the inverted head and shoulder pattern on the 4hour chart but the right shoulder is very disproportional and may actually just be part of the head still...small right shoulder have been known to trigger breakouts though but currently it may also just as easily be a fakeout...there is also a golden cross on the 4 hour chart that seems just a candle to away from occurring so altogether it is a recipe for either a massive move upward or a massive fakeout but either way a huge move is coming very soon...smart to wait for confirmation before going either way.
BITMEX:BTCUSD.P
by DrDovetail
XEM/BTC looking for critical supportAfter trending sideways for some months, we observe XEM breaking out above its 50MA (green) and the overhead resistance (0.00001650) with a huge surge in volume. Since November, XEM has been trading in an upward channel, until its recent break to the downside the past couple days. Failing to breakout from the long term moving average 200MA (red), it seems that its looking for the 50MA (green) or previous resistance level (or new support level). An imminent golden cross may seem to be forming, signalling huge bullish move - this occurs when a shorter term MA (green) crosses over its overhead resistance being the longer terms MA (red). However, it remains to be seen if this pattern completes itself.
X
by gingerbre4d
BTC Flag or False flag? Scalp averagesA good method to find an entry, exits, supports/resistances, and overall trend direction is to use the 1, 5, and 15min 50day& 200-day SMA&MA's. Ema's crossover ma's on same time frame is bullish. 50ma is a good momentum indicator. Of course 50's over 200's is bullish and watch for crosses and tightening of each average in relation to one another. A simplistic explanation, but if you watch over time, it's extremely helpful. Confirm entries on 1 min and 5... As a candle closes above or below each point, look at the general set up of the price in relation to the averages the averages in relation to themselves. In times of volatility, if you can watch to scalp...the take advantage of that.
by CNotes1234
Slight chance @ both a C&H on 1hr btc chart & an inv h&s patternKeeping this idea neutral now because although both patterns are in play I don't have that high of confidence either will actually get triggered...the main one I'm gonna show first is this Cup & handle pattern that is forming on the 1 hr chart. We can see that the 1hr 50ma and 200ma are very close to completing a golden cross here and that the 200ma on the 1hr chart is so far holding support fairly well....the 200ma on the 1hr chart and the 200ma on the 4hr chart are sort of overlapping right now and acting as a kind of double reinforced support and the 4hr chart is also on the brink of a golden cross as well. If the 4hr charts 200ma can maintain support as well as the 50ma when it comes up above the 200ma if it maintains support I think these 2 patterns triggering can very much so become a reality but for now I'm not that confident in them only wanted to mention that they were worth keeping an eye on....below this in a follow up update I will post the inverted head and shoulder I decided to post it separately so you can more clearly see the cup and handle pattern but essentially the cup is the 2nd shoulder of the inv head and shoulder pattern.
BITFINEX:BTCUSD
by DrDovetail