1BigPapi

1BigPapi

PREFACE : In our last TA we noted a monthly pattern that continues to hold true since December- week 4 the pattern flips bullish, week 2 the pattern flips bearish and we correct. This appears true for April into May as well; the strong correction in April actually matched the February correction almost exactly- the same fractals, the same percent of correction and...

1BigPapi

I outline some scenarios going into May. Background (looking at December until end of April) : 75% of the time bullish breakouts occur in week 4 of the month; arguably 100% of the time but reference the analysis below 75% of the time corrections begin in week 2 of the month; arguably 100% of the time but reference the analysis below MM/industry/whales...

1BigPapi

Recap : Here we are, another month and another Bitcoin correction. As others posted, you could point to the monthly options expiration as a strong reason for at part of the correction, but other contributing factors and a respectable amount of fud made this one of the strongest corrections we have observed in the cycle- it wasn't the strongest (yet) in terms of...

1BigPapi

Background : Well it has been a heck of a week for Bitcoin. By now many investors are questioning when and if Bitcoin will regain bullish momentum anytime soon. Conspiracy theories aside, we did enter a healthy correction posting an almost 30% drop from our ATH and retracing to the 38% on the fib retracement. Unfortunately the corrective pattern was far from...

1BigPapi

Background : It is a couple days after the epic "flash dump" that saw Bitcoin drop over 13% in an hour and most alts significantly more. While we briefly wicked to around 50k, the chart eventually settled into the mid 50s. Current Status : Bitcoin is painting a possible ascending triangle (bullish) or rising wedge (bearish). As a rising wedge it looks weak, but...

1BigPapi

BTC is clearly struggling to stay over 60k. Volume have been week because retail is weak both at this price point and due to heavy accumulation by industry/whales/MM through March. Coming into the end of this bull flag, inside a larger rising wedge. This puts us at odds, a bullish pattern within a larger bearish pattern. So the question is how low will we go and...

1BigPapi

Situation : After a rather insane rise this week, DOGE entered a corrective pattern and is painting a descending triangle, or a very slight rising wedge. The market is still recoiling from its insane climb this past week, and whales are presumably still taking profit. Note on Triangles : When you see a descending triangle pattern, it indicates that sellers are...

1BigPapi Updated 

1 week to trade starting today $500 starting capital Leverage and spot is fair play The challenge is to see how far I can push 500 USD in one week. No restrictions as far as leverage, spot, etc. Anything is fair play but I have to cash out in one week. Or if I liquidate then I'll post that too. I will post updates on this chart, you can watch progress below:

1BigPapi Updated 

The question on everyone's mind is again- where is Bitcoin going? The excitement of breaking out from March's accumulation quickly turned to disappointment and boredom as BTC rejected firmly from 65k and entered the falling wedge it is now painting. Falling wedges are typically a bullish pattern on breakout but a bearish or false breakout can't be ruled out. I...

1BigPapi

I'll be honest, I'm not touching the coin, too volatile, doesn't obey TA or even common sense. But still did TA for some folks who asked, and figure I would share in case anyone needs a dose of what could happen. It doesn't look healthy. DOGE broke bullish from a flag earlier, but lack volume to break above the 23% fib, was promptly rejected and continues down...

1BigPapi

The first thought on any crypto trader's mind this week- where is Bitcoin going? Bitcoin saw a strong bullish breakout this week, climbing around 9%, followed by a swift rejection at 65k and a 50% fib retracement, where she is currently ranging within a symmetrical triangle. Bitcoin will break out of the triangle in the next 1 to 5 hours. I placed potential long...

1BigPapi

Just a quick brainstorm, but ETH looking very strong today, possibly due to the Berlin update. ETH is a fan favorite to really shine this bull cycle and I think it still has a lot of upside, however it also is in a constant struggle with Bitcoin. As long as Bitcoin makes these slow movements up and down, expect large cap alts and establish alts like ETH, LTC, BCH...

1BigPapi Updated 

After we broke out of the ascending wedge this afternoon, Bitcoin posted a fairly bullish pattern and almost immediately began trending up towards 64k. I'm not convinced there won't be a deeper corrective wave along the way but assuming this show of strength holds, it should follow a similar trajectory to what I plotted here. I expect resistance at 64k, failure...

1BigPapi

As I was wrapping up this chart, BTC appears to be falling out of this rising wedge. This is typically a bearish pattern and its not unusual for breakouts to retest support along the way. My target for the retest is around 62k based on the limited trade volume in this range, and it is about 50% on the way to our first target at ~64k. If you are looking for a...

1BigPapi Updated 

This isn't proper TA as much as brainstorming put to a chart. Background : BTC is ranging a (slightly) descending wedge within a larger (~5 week) ascending triangle that served as a strong re-accumuluation phase for whales/industry. Currently : We appear to be trending down on the smaller timeframe. Bulls lack the strength to break bullish on the smaller...

1BigPapi

If you look at this chart you'll see the white line across the bottom 3rd of the triangle. That appears to be the true bottom support, with two dips under it, both recovered, and each smaller. We are now flirting with a third very minor dip under it. I think if we remain in the triangle and above the white line, a possible long entry is reasonable, but practice...

1BigPapi Updated 

Background: Since Friday's breakout we dropped back under 60k and have been ranging within 59k. Current Situation: We are approaching the 75% mark in a symmetrical triangle, while most (over 70%) of the time these are continuation patterns, we can't rule out a bearish breakout. Await confirmation before entering a trade, this area is particularly fickle and...

1BigPapi Updated 

We had a clean but low volume breakout last night (such is a Friday night breakout session). This followed weeks of re-accumulation by industry that left us ranging between 10% down to 5% in an ascending triangle. On breakout, BTC peaked just under the ATH around 61.2k before entering a falling wedge. It appears primed to retest some key support levels but if...