ChorizoWassie

ChorizoWassie

This chart is based on the assumption that the 2017 bull run for BTC and alts will repeat in 2021. This is a very risky assumption and to be honnest it should be wrong because of the enormous cash amount those percentage represent. And also it should be wrong because past price action doesn't determine futur price action, it's just an indicator. In all honesty I...

ChorizoWassie Updated 

Just a quick reminder of what BTC can do to you, if you're doing the basic triangle thing on the 4h timeframe. BTC just loves to turn greed into fear, it's one of its main feature. If you are following the simple idea that if btc breaks up from triangle, it's a buy, or if it breaks down it's a sale, you better be prepared to see the price do the opposite of what...

ChorizoWassie

Here is my simple answer, based on historical data. Same pattern can be applied on the 2014 bull run when the 2011 ATH got broken.

ChorizoWassie

The trend line from early december is clear, has been tested many times and never broke, bitcoin is still rising since then, getting as far as $42k. Now this week we have entered a huge correction and the price fell to $30k, (-28%). I have no reason to believe the uptrend is over, I will clearly reconsider if the trendline broke. In this case of course, we may...

ChorizoWassie

Easy trade to make. I'm short right now since $7450, I plan to take profit around support trend line.

ChorizoWassie Updated 

Double bottom is usually where the trend can reverse. So look closely and if in the next few days, price didn't get below 0.000068 it is likely to reverse and break 0.0001 again which means a huge +30% from the actual price. RSI is already oversold. Also after a big pump on bitcoin, market of altcoins often goes in a kind of roulette of pump with a new altcoin...

ChorizoWassie Updated 

BTC price is in a very strong uptrend channel due to the strong correction that took place past week end. We shouldn't forget that past correction made a lot of past supports turns into resistances. Price around $2250 (+/- $50) has been an argument between bears and bulls during 1 day and a half between 11 and 12 july. So for me it's logical that BTC is taking...

ChorizoWassie Updated 

There was a first breakout on july 3rd, leading to the price of ~$2640 on bistamp. Since then, price stayed in the $2500 / $2600 area, whenever it tried to escape that box, it got back in really quickly. In the next few hours I believe bitcoin is going to break out one way or another. I believe it's most likely to go up because the up trend showed more strengh...

ChorizoWassie

As you can see the $2500 - $2550 is very often where the argument between bears and bulls takes places. Already 6 arguments in that zone over the last 2 months... So maybe you should wait the end of this one before taking any decision.

ChorizoWassie

I think the big storm may be over for at least one week. Price can still break the downtrend or uptrend at any moment, because, it's BTC. But i'll be mostly paying attention if any support or resistance is being tested again.

ChorizoWassie Updated 

It's going there

ChorizoWassie Updated 

It might go sideways in the next hours in a strong correction, or in strong bullish movement.

ChorizoWassie

965 is still a strong resistance. We might go sideway for the next days, and test the channel another time.

ChorizoWassie

However 965 seems to be a strong resistance to break.

ChorizoWassie

Short