ChartCinema

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In the 11 year history of Bitcoin (since 2009) it has closed weekly candles above $12,000 for 6 weeks. The path of least resistance is down, unfortunately. On Balance Volume looks amazing, as it has surpassed its 2017 highs! Moving Average Convergence Divergence confirms a strong trend. But the price is king. Bulls need to prove they can close a weekly...

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Litecoin/BTC pair is finally above its 200 Day Exponential Moving Average! 👍 It seems like everyone who missed accumulating Bitcoin at $9,000 is now FOMOing into Litecoin, which is to Silver 🥈... as Bitcoin is to Gold. 🥇 Litecoin below $100 psychologically feels like Bitcoin below $10,000... On Balance Volume confirms Resistance line break, former historical...

ChartCinema Updated 

On Balance Volume breaks above Resistance to confirm the Symmetrical Triangle breakout was not a Bull Trap! The longer the contraction, the more explosive the expansion...

ChartCinema Updated 

Bitcoin appears to be coiling into an extremely tight range. Forces of Supply and Demand are evenly balanced as price converges to the apex of a triangle formation. Everything in the Universe that contracts... eventually expands. 💥 An explosive move is coming. 🚨 I'm not certain which direction Bitcoin will break out to to, but my bias is to the upside because On...

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💡 Ethereum is the "safer" altcoin to diversify into if you want to compound your Bitcoin (without needing to trade on leverage)! Multiple Higher Lows on the daily timeframe shows Demand is eager to buy Supply at higher prices from previous bottoms. Price is testing its 200 Daily Moving Average, which is sloping up! RSI is oversold. MACD histogram is...

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Did strong miners step up the hash rate? Are the whales buying up the price? 🐋 Whales — On Balance Volume is testing Resistance. A rejection here and price will most likely drop... but if it continues up, FOMO may kick in. 🐂 Traders — Relative Strength Index makes a Hidden Bullish Divergence... during a Daily uptrend. This is very bullish. ⚒️ Miners — BTC...

ChartCinema Updated 

Confluence of indicators had a Change of Character 👍🤪👎😬 💚 In the past, when BTC Hash Rate dropped to its 200 Day Moving Average + RSI Oversold 💁 + On Balance Volume was at Support 💁 = Excellent Buying Opportunity. 🔴 Currently, BTC Hash Rate dropped to its 200 Day Moving Average... BUT RSI Overbought and rejected at Resistance 🙅 + On Balance Volume Rejected at...

ChartCinema Updated 

All other indicators are pointless right now.

ChartCinema

🤷 Volume was increasing, while Price was decreasing. This shows that Effort was greater than the Result. In other words, increasing Demand did not increase Price, therefore a further drop may follow as Supply is still overwhelming buyers. 💔 Sign of Weakness "in progress" with price trying to regain $8,600-ish (Bottom of Trading Range). ⚠️ This is not confirmed...

ChartCinema Updated 

If it breaks bullish... we'll have fireworks. Neutral price movement since supply and demand converge at an equal point. Is it a reversal or continuation? Probability = 50% Risk to Reward = 1:5

ChartCinema Updated 

I'm not an expert at Elliott Waves... (I'm still learning.) 😅 but I have a knack for seeing complex patterns as my day job is a creative professional. 🤓 (Trading is my side hustle.) This appears to be a complex bearish correction at the top of a very nice rally up. Everything in life expands and contracts. ☯️

ChartCinema Updated 

🚨 I am NOT shorting Bitcoin. 💡 This is for information purposes only. 👍 I will look to accumulate Bitcoin when it finds a bottom! Head and Shoulders Reversal occurred at the Up Thrust After Distribution...

ChartCinema Updated 

Please, only short-term trade ⏱️ with very tight stop losses! Threat is to the downside. 👇👇👇 This is a countertrend trade. 🚨 For experts only! 🚨

ChartCinema Updated 

$6,000s is the break even cost of mining Bitcoin. Will miners dump? According to Hash Ribbons 30/60 Day Crossover and Hash Rate dropping below 200 Day Signal Line... this looks uncomfortable. 😬 One scenario is that miners may have stopped supporting the network to save on electricity and will just HODL their coins up to the Halvening (cost of mining after that...

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Multi-year logarithmic trend line... failed. But there is a massive Pitchfork of Hope . Pivot point is a historical wick down from parabolic move, which set the median price of Bitcoin for the years ahead. Will we Double Bottom? Maybe once the supply of sellers are exhausted and volume fades. Watching BTC Hash Rate for the Buy Signal if it crosses above...

ChartCinema Updated 

Ethereum versus Bitcoin pair is breaking below a Descending Triangle. RSI confirms its weakness as it also broke an uptrend line of support. Best to go all in on Bitcoin as its Halvening is only 66 days away at the time of this post.

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Will a confluence of the 200 Daily Exponential Moving Average and Previous Resistance at $8,600 all flip to Support and create an Inverse Head and Shoulders? Increasing Bear Volume will cause the hopium to fail! On Balance Volume crossing above 21 Day Moving Average will pump up the hopium!

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🚨PANIC SELLING of stocks due to Coronavirus...😷 in fear that earnings for top companies will drop as productivity comes to a halt. 😩 ⚠️ Historically, the SARS outbreak did not cause the stock market to dump farther as we were in the tail end of the Recession. Coronavirus appears to be coincidentally at the top of a market rally and is just a social trigger to...