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Honeybadger

What I'm telling my family about BTC over the holidays. Well the holiday season is coming up. For a lot of us that means varying degrees of questioning on how "that fake internet money stuff" is going. Luckily for me no one in my family has gotten rekt from listening to my advice given last year, so I can hold my head high during dinner (My uncle even started shorting in February - pretty sure he's happy). Anyway here's roughly what I will answer when people ask my outlook. We either stay above the (3270-3300) level accumulating our way to strong support here, for a few months and then the confluence of expected good news and the new year (yay, tax write offs) triggers a sentiment reversal and we all go to the moon. If that does not happen, and we convincingly break down below the current level I'm pretty sure we're fucked - depending a little bit on the velocity of the drop. The worst case scenario I see is a quick drop to around the 1300 level, where miners WILL be significantly challenged - especially if the drop is so quick that the difficulty does not have time to reset. If we stay below that level for any meaningful amount of time, I think we all have to find a new hobby.
BITFINEX:BTCUSD
by ssom
4
Best Way to Trade a Bull Stock MarketStocks are flirting with ATH's in a complete departure from a reality where unemployment is right around where it was in the great depression. Praise be to the Fed and their magic papers. The Kovach OBV is confirming the bull trend. We are seeing some red triangles in the Kovach Reversals indicator, confirming resistance, however. The fact that the S&P should break out from these levels is undeniable, but the question is if we will see a retracement first. We would prefer to error on the side of caution and not honey badger our way into a trade. Keep your eye on 3396 and 3390 for a rejection or breakout. The level 3357 would be a good place to buy back if it retraces.
FX:SPX500Long
by quantguy
Honeybadger Hijinks: A Long Thesis (BTC/USD)Following an impressive run to the upside following the March COVID-19 liquidity crisis, the lovable honeybadger appears eager for more. On the chart today you'll notice a few items: 1: An ascending triangle forming on the daily. Typically, ascending triangles are viewed as a continuation pattern. 2: A steadily rising RSI. RSI between 50-70 is a bullish indicator that lends further credence to a long thesis. 3: Significant volume to the upside. You can see this by looking at the green and red bars lining the bottom of the chart. Green bars represent a period of buyer dominance while red bars indicate that sellers were in control. If you ever hear someone talking about breaking through with "conviction", they are referring to the volume of shares traded during a price move. 4: Moving Averages all sloping upward. These lines typically act as both support (should the price fall towards it) or resistance (if the price rises towards it). The longer Bitcoin maintains a price higher than the Moving Averages, they will continue to rise and provide further insulation against lower prices. 5: Fundamentally, the Fed continues to devalue $USD and global tensions are on the rise. Investors typically seek safe havens for their capital during periods of inflation and unrest. Bitcoin provides increasing opportunities for wealth preservation as equity valuations reach higher highs and fund managers become more open minded to gold alternatives. Should the price break upwards out of the triangle, I expect further continuation to the 1.618 level at $12,783 with some brief stops at $12,000 (July 3/August 7 2019 highs) and potentially $12,555 (July 9,2019). HOWEVER. Ascending triangles can fail, and we witnessed a parabolic increase in price over a period of days. Hogs get slaughtered. Should the price break downward outside of the triangle, I expect further selling pressure as the reluctant honeybadger retreats to the Fibonacci retracement levels. They are: 0.786- $10,898 0.618- $10,514 0.5- $10,246 0.382- $9978 0.236- $9647 The black diagonal line represents the months-long upward trend since lows in March. Should the price break downwards, it will be up to this trend line to provide support. While my overall thesis remains long, it seems prudent to prepare for potential downside. Technical Analysis often gets shit for its deceptively malleable relationship with the truth. "Price went up, I totally called it!" "Price went down, oh yeah, I called that, too!" Technical Analysis does not attempt to predict the future with guarantees, rather it is a science used by traders seeking to gain data-driven insights into market behavior. Blackjack players read a table to calculate the probability of the next card and increase their winnings. We are in many ways doing the same. If you are a short term trader, consider exiting the trade should the price close outside the triangle on the 1H timeframe. If you are a longer term trader, it may be less stressful to consider a Dollar Cost Average approach should prices trend lower instead of closing positions for a loss. Happy trading!
BITSTAMP:BTCUSDLong
by CryptoKaizen
Daily Death Cross Bitcoin BTC/USD 17th March 2018 [BTFD]We get a Death cross on the daily (finally on coinbase chart) some other charts this has come up already! nail in the coffin for bitcoin? (i doubt it, btc is harder than a honey badger) the whales who didnt buy in last feb are fomoing at the bit, so i feel we wont go lower than $4k MAX but never say never with bitcoin, for sure will double bottom here and bounce very hard, so ready for this too....remember.....big money wants a cheap buy in for sure! looking in closer timeframes we see bitcoin respecting the gann fan's, most likely drop into the purple areas towards the red and the early feb18 low so shorting the king until those bottom fibs and then looking for a few epic longs on the swing trading Bitcoin is simple price action folks, does not get simpler than this! trade well cookies and BTFD (techincally speaking)!!
COINBASE:BTCUSDShort
by majorlee
5
Hello Butterful, what are you doing for my next 6 months?Butters has a bit of a wyc*koff* at the moment and so is feeling a bit down. but I'm sure he'll perk up, either into a consolidation triangle with AllTimeHigh as resistance, or more likely the PBOC has given us the 'Bitfinex moment' of this cycle and we'll have a chance to BTFD around 5200 (butters likes to revisit previous ATH's and lower trendlines out of nostalgia and because honeybadgers are related to bears so it's nice to give them a little something now and again ;) after the dip there will be a period of sideways, false breakouts, stop hunts, pumps & dumps and general confusion. china will ban it, trump will pump it, a mimblewimble with two heads will be born and bitcoin will die for the 1000th time. sometime around june or july Butters might just get his boots on. "what kind of boots are they?" you ask Why, they're MOONBOOTS BABY! ok, be calm. Butters is more mature now so don't expect the parabolic exuberance of 2013, when things got so extreme a unicorn would leap out of your laptop,(free) vomiting (pro) rainbow coloured cupcakes (Pro+) and farting Bassnectar (Premium subscribers only). do expect FOMO, media driven buy-in and people in hyperinflationary countries catching on to bitcoin as a value holding inflation hedge and cheap remittance method, as well as govenments to try anything from banning it outright to adopting it wholesale. do expect the whole thing to flop if the lightning can't be networked or the witnesses can't be segregated. tl:dr the timing might be off but expect the same moves in the same order as the last 2 bull cycles because composite man or some such gestalt entity at work tl:dr of the tl:dr pain, then confusion, then pleasure. just like the first time you... bought bitcoins
BLong
by Satur9
1