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Bitcoin - Walking a fine line today.BTC is making some interesting moves and answering some questions along the way. What we saw over the last few days was predictable but we are beginning to go into behavior that's a little dangerous. After reaching out to the 50MA on the 1-day chart, which I called "First Serious Obstacle" -- and now you see why-- got rejected in a decisive way (from $7700 to $7100) the two options here are; Let's regroup and go after the 50MA again or acknowledge that there are no buyers interested in buying at this point and let down to the $6900 area. The obvious thing is that we are now resting right on the trend line again, which can be seen as good and bad. The good is that BTC is pointing as this line as the bottom, by refusing to close under for 10 days now. The bad, BTC can't seem to rally buyers at this point even though it is a great buy zone. Personally, I still have BTC right where I want it. I would be happy if it goes up or if it goes down, I hope most of you have followed along and are in the same scenario. Also, we are watching 50/200MA crossover on the 4H chart, this may get some buyers to come in. The battle here as you can see is that price is pinched between the 50MA and the 200MA and also it is refusing to go under the 78.6% retracement, this are small hints that it may go up. Lastly, we are still headed uphill here in the 1-week chart, but here we really have to make it above the yellow 50MA before we close 3 candles under it. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
26
Bitcoin - And then this happened...I hope you all have a greater appreciation of what were are doing and what we are accomplishing here. Good TA keeps you ahead of the game not by guessing but by reading the signs. In the previous posts, I have been insisting that the green trend line was the right one to follow and so here we are. Even when BTC was throwing signs that it was headed down I kept insisting to keep an eye on this line. To be clear this is a temporary bottom, our near target is the 50MA and our final destination is the 200MA (In white.) I have been saying this for weeks. What is going to happen after we hit the 200MA? BTC will either get rejected in the days after and go lower than we are now (very likely to hit the $4800 target), or we will surpass it with force and up we go. For now, we will just be looking out to hit those targets that were planned out weeks ago and continue to keep in mind that we are under a death cross, remember that it is not easy to escape its grasp. To get from under it we need to hit a great buy zone and heavy volume. So far we've hit an ok buy zone and we have normal volume. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Finding stability THE OUTLOOK: A rally may be coming soon.
by cryptoGats
70
Bitcoin - What to watch this weekend?This is how you want to build a case on BTC finding a bottom within the green trend line. So we talked about it at length yesterday but today we can see that BTC has remained above that green trend line, if we close a candle today above it as you know that is a sign of strength. All BTC has to do is stay above $7200 today and $7250 to $7300 the day after and so on. There is a curious little spot on the chart that I want to point out; At $6515 BTC seems to have changed direction and it may not seem like it right now but i looks like the start of an uphill run. To be clear I do not think that this is a "Moon" run but I think that this is a likely place from which BTC can stage a challenge to the 50MA and ultimately the 200MA. That event is in the cards as long as BTC is under a major death cross, you can count on that. This is a look at that spot I referenced in the 1D chart. I think the change in direction is more clear here on the 3D chart. I've circled it with cyan color. So to make it simple, just keep watching BTC and the green trend line over the weekend, if it continues to run and close above it we can begin to formulate a plan accordingly. Please keep coming back to this post as it will be updated continuously. I will also drop off the live link to the 1D for easy following. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
14
Bitcoin - Wait! I know where we are!Looking at the 1D chart you can see we are back to that damn obnoxious line that kept us around $6500 for weeks last year. To be clear we are talking about the white support line I drew a few months back, we've hit it twice now and have refused to go below it. I can look at this chart and write a 12 page analysis on the last 4 candles but let's keep it short. What has happened on the last 4 days is that we went under the green trend line, but curiously enough for on 2 candles, as you guys know by now 3 candles equals confirmation which means BTC was purposely pushed up so that candle #3 would not close below and now we are resting of all places back on the green trend line and exactly below the 61.8% retracement. What does all of that mean? Well... I looked around and check out what I found. According to the 1W chart, our green trend line is still valid as a possible bottom. Keep in mind that the 200MA (200 moving average) on the 1W (One week chart) is what divides us from a bear market, this time frame is very important. This line was specifically not violated, all of the efforts to pump up the price from $6400 to $7100 had a reason. It was just to keep BTC from spending too much time under and closing below this line, but why? Well... Maybe this is it, the bottom may be here. For now, the fact is that the green trend line means a lot to the Algos trading BTC. TA is not about guessing it's about interpreting. A good analyst looks through time frames and indicators to find a possible answer. So the possible answer, for now, is that the green trend line may be our bottom. Here you have it, one last look at the 1D chart VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
29
Bitcoin - Thanks, I'll take it form hereMy technical analysis is not about guessing where price is going to be, it seems that way because I consistently tell you where things are headed. Trading and technical analysis are about reading the charts like a book and interpreting events and hidden clues such as popular sentiment to market manipulation and setting buy zones according to this info. I set my three buy zones back in July when they seem extremely unlikely and now 2 out of 3 have hit. The last one is only $1700 dollars away! In plain English what do those buy zones mean? Simple, I am a customer at these 3 price points, and if they hit this is how much I am buying. This style of trading requires a lot of patience and discipline, but this is the only way not to lose money or to be shaken down by your own exchange. I have waited 6 months for those zones to hit., but I'm buying so low that there is no other way than up. Most of you have already bought alts at excellent prices, it is not too late for those that have not. If you buy now, please leave some cash for the $4800 area just in case. Once we hit the thick white support line at $6485 I will be another 5% in and it will bring me to a total of 60% in, leaving 40% for and if we hit the $4800 - $5000 area. On the 1D chart you can see my style of trading in detail. You can see my buy zones and how much of my working capital I have put in. The odds of us going to my last buy zone are growing, fact: We are closer to my ultimate buy zone than we are to the last high point of 14K, BTC has fallen $7300 from the top and we are only $1700 away from a premium entry point! Lastly, please remember that we are still under a 50/200MA death cross and this is having a major influence on price. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
52
Bitcoin - Health Status UpdateBTC failed 2 out of the 3 benchmarks for going up and showing strength. It was not able to close above the 50MA on the 4H time frame nor did it close above the 50MA on the weekly chart. This is the 4H view This is the weekly So what's left now for BTC and what can we read from the important 1D chart (the main one above.) BTC is still walking up the green line (which is good) and can be indicative of trying to find a bottom. It has not closed once below this line since Nov. 22nd, for sure BTC is throwing signs that this line could be the bottom but BTC is heavily manipulated so the best thing to do is wait and see. You should all be good if we take off from here you should be 60 - 75% in and leaving the rest of your cash out just in case BTC decides to go to $4800/which is the same as the 200MA on the weekly. One last thing to note is that on the 3D chart (3-day chart) the 200MA is holding BTC's head above the water. This MA has been holding BTC up since Nov, 20th it is not coincidental that the daily trend line is doing the same. This chart is one that we should keep our eye on. The two questions here are: Is BTC going to go below the trend line by following the 200MA which is about to cross it? Or once BTC gets to the trend line is it going to start walking up? This is a make or break thing next week. I can tell you this; We can't afford to be going down so slowly and for so long anymore. Too many bad indicators are adding up and they will send BTC plunging. It is time that BTC wakes up and starts pushing up again. It is not too late to get into Alts like ETH, LTC, BNB and NEO for the long term, just saying. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
5
Bitcoin - Crucial Weekend UpdateBTC failed 2 out of the 3 benchmarks for going up and showing strength. It was not able to close above the 50MA on the 4H time frame nor did it close above the 50MA on the weekly chart but it has stayed above the green trend line on the 1day chart. This is the 4H view This is the weekly So what's left now for BTC and what can we read from the important 1D chart (the main one above). BTC is still walking up the green line (which is good) and can be indicative of trying to find a bottom. It has not closed once below this line since Nov. 22nd, for sure BTC is throwing signs that this line could be the bottom but BTC is heavily manipulated so the best thing to do is wait and see. You should all be good if we take off from here you should be 60% - 75% in and leaving the rest of your cash out just in case BTC decides to go to $4800/which is the same as the 200MA on the weekly. One last thing to note is that on the 3D chart (3-day chart) the 200MA is holding BTC's head above the water. This MA has been holding BTC up since Nov, 20th it is not coincidental that the daily trend line is doing the same. This chart is one that we should keep our eye on. The two questions here are: Is BTC going to go below the trend line by following the 200MA which is about to cross it? Or once BTC gets to the trend line is it going to start walking up? This is a make or break thing next week. I can tell you this; We can't afford to be going down so slowly and for so long anymore. Too many bad indicators are adding up and they will send BTC plunging. It is time that BTC wakes up and starts pushing up again. It is not too late to get into Alts like ETH, LTC, BNB and NEO for the long term, just saying. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
4
Bitcoin - What's happening and what needs to happen - Important!If BTC closes above the 50MA (50-day moving average line) on the 4H (Four-hour time frame) that will also push BTC to close above the 50MA on the weekly which is a pretty good sign of stability. This is what all of that means; When the weekly candle closes this weekend above the 50MA it is a signal that BTC does not want to go any lower than $7300 at this point. Which means it has found a bottom at the 1D trend line I drew a few months back. Sounds complicated but all of this put together gives you a good perspective. So which chart is the best one to watch? The 1D and that green trend line. Where BTC's price is right now is also the 61.8% retracement which is a place BTC is always staging comebacks from. If we go up from here, it is a wink from BTC to you that says "I'm healthy and the good times will continue." 61.8 is a magical number that BTC uses to stage comebacks from. Bitcoin goes up by a lot and it comes back down to 61.8% and it does it over and over again. This is the weekly chart, BTC has to close over the yellow line. This is the Daily chart, BTC has to stay above the green line. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but mostly finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
30
Bitcoin - This is the bottom line - Must Read! I will be very honest and show you my cards and what I'm hoping for. I will do very well next year if BTC goes from here to 20K or above, but I will do exceptionally well if we hit the $4800 area, why? Because at that point I would have 100% of my working capital in, and BTC is showing signs of storing all kinds of energy for the next move, meaning we may go north of 20K. If you have been following along you are 55% to 65% in as well. This next bull run is guaranteed to -- at the very least -- double your money if you have an Alts heavy portfolio. One thing you have to remember about my trading style is that for it to be profitable you must have patience. If this is the bottom, BTC may start ranging along that green line for days maybe even weeks but eventually we'll have a big parabolic move up and the good times will start. Our best-case scenario for 2020 is that we meltdown to $4800, at which point most good, worthwhile Alts would be dirt cheap. If you load up -- as I plan to do -- and do position trading, which means you hold your coin until it hits your exit point you should do very well in 2020 and even better if you hold beyond 2020. Example: If you buy LTC at $20 (let's use a random amount) using 5K you will then have 250 LTC and if you wait until it hits $200 you will end up with 50K. This is a very realistic scenario for 2020. This is the type of move I am waiting for, if this does not happen you will still get a couple of chances to make good money with 2 or 3 trades next year. Let me be clear; Only commit an amount you can afford to lose, I'm not telling you to put 5K in, the above is just an example of what I have been doing with Crypto. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
22
Bitcoin - This is it, very important!We are about to hit a very important spot, and this is very critical because it will indeed dictate how things will go for the short term. BTC is about to test the recent landing spot of Nov. 24th and this is very simple; If BTC refuses to go lower than that green line, we are at the bottom, if BTC dips below that green line we will try to eventually touch the $4800 area and when we do that we shall have a very strong move up. The bottom is not a quick touch and then "move up" quickly process, the bottom is an event, meaning it will touch a line of support over and over until it establishes it as very strong support. BTC could be in the process of doing so and the line to watch is the support trend line that started back last year -- which is that green line. Lastly, We have now hit 2 out of three of my suggested buy zones. I hope you have followed my advice and you have put 60 to 65% into high performing alts. Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time. Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits. NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
by cryptoGats
28