Cryptoplush01

Cryptoplush01

We had a strong bullish breakout of the bearish channel invalidating the ABC correction. A close look at the daily candles shows that every dip is bought back up, an indication that the bulls have an upper hand. We can also see a continuous push towards resistance with a weak or no rejection, an indication that there is price acceptance at that level The longer...

Cryptoplush01

The sentiments across board seems to be pretty bearish with more shorts piling up every minute. Before you join the herds, i will advice you take a closer look at BTC chart on higher time frame. On the weekly we saw a move up to a swing high of 9100 followed by a correction to 7450 where we had a strong bounce and a parabolic rise to our local top at 0.618...

Cryptoplush01

The 20 day EMA (thin yellow line) has proven to be a very strong resistance ever since price broke below it two weeks ago. Every attempt by the bulls to push price above this level in the last 10 days has failed, a situation that gave the bears an upper hand. Short Term Outlook— BEARISH!!!! Rejection at 0.382 fib retracementment level and 20 day EMA Broke below...

Cryptoplush01

Price is presently being held bound within a range—10300-10600 in the last 24 hours on a very weak volume, which to me looks pretty dangerous as a whale manipulation could easily push price in any direction. Presently we are seeing two pattern formation on the chart— the bullish gartley pattern and the bearish cypher patern. A move to the upside from current...

Cryptoplush01

In My recent update, i was of the oppinon that Bitcoin's correction wasn't over yet, that Bitcoin is in a distribution, and that we have one more upside to go (Phase C— upthrust) before a final drop down. I also was of the opinion that our upside target was 12k-12.6k and that a break above this level may lead us to our local top of 13900 at the 0.618 fib...

Cryptoplush01

Here is a quick update on BTC. Price presently bound within a wider channel, with peaks and troughs of the channel respecting fib levels. One of the major attribute of wide channels is that its creates huge swings up and down the channel thus causing huge volatility. So with the swings up and down this channel, i do expect a huge volatility as BTC corrects...

Cryptoplush01

In my previous post here i was a bit bearish on bitcoin because of the bearish divergence seen at the weekly close of the candle, but the resilient bulls weren't ready to let go, as they continued to push price higher, and in turns, pushed the RSI back to a higher high position. So Where Are We Headed From Here? Three white soldiers candle stick formation on the...

Cryptoplush01

Bitcoin broke out of the rising wedge and had a nice bounce from the 7400 horizontal support level where i did post in my last update that we are likely to get a rejection at the 20 day MA around 8100-8200, and i was not suprised to see price reverse at this levels. However, the price action at this reversal area appears to be forming another bearish pattern...

Cryptoplush01

In my previous post i reitrated the fact that Bitcoins bullish bounce from the lower boundary of the rising wedge may likely take us to $10k, but as usual, the market movers and whales were smarter. While every other person and their grandmother were expecting to see a 9500-10000 level before reversal, the market movers and whales exited at 9000-9100 turning this...

Cryptoplush01

In my previous post, i did talk of a wave 4 (flat) consolidation before price hit our final wave 5 target of 10000....... The bullish bounce from the trendline support of the rising wedge formation @ 8000 shows that the bulls are still in control, and the 1100 dump witnessed yesterday may just be a liquidation hunt to squeeze out longs. The 20 day MA has been...

Cryptoplush01

Jumping off my previous post, i did call a $10k Target for Bitcoin to finally complete the parabolic move from the low of 3100 in Dec. The current consolidation (ABCDE flat pattern) is a wave 4 breather for the next leg up to complete the wave 1 of the macro trend. Having gotten a sharp dip in wave 2 (ABC correction) i did expect a shallow wave 4, hence the...

Cryptoplush01

The parabolic rise of Bitcoin's price from its Dec lows may not have ended afterall, as the recent price action in the last two weeks seems to be forming into a pattern that could ultimately continue the move all the way to $10K area. On the 4 hour, we had our first low of this move at 6800, and our top at 8400 followed by a first higher low at 7015 (close of...

Cryptoplush01

The recent Bitcoin's price move is still being perceived by many as a manipulative pump, making lots of people to believe we will see a massive dump to correct the parabolic move. But after studying the chart well, i am of the opinion that bitcoin's price may not dump after all as many are expecting, infact what we might likely see is a healthy correction to the...

Cryptoplush01

Waited this long to carefully analyze bitcoins chart and get a grasp of what could have led to this parabolic move which is contrary to bitcoins bear market behaviour historically whale pump, exchange manipulations to squeeze out shorts, Consensus FOMO etc where some factors i considered at first, but looking at the violent move from the 4000 level all the way to...

Cryptoplush01

History may not repeat itself with precision, but it does rhymes.....The Bitcoin's price action since Nov 2018 to date is showing a near perfect similarity with the 2013/2014 bear market chart, an indication that the bear trend of Bitcoin may finally be coming to an end if history truly rhymes. In my previous post, I continue to lean bearish as there were already...

Cryptoplush01

Here is a quick update on #BTC Weekly Price broke out bullish above the long term downtrend line resistance on strong volume. With such strong momentum I did expect the bulls to push price to the 5800 area which holds a very strong support all the way to 6000 Psychological support. But we were quickly rejected by the 50 week MA at 5500 resistance area. We will...

Cryptoplush01

Strong accumulation in the last 8 months. Price forming a nice harmonic patterns from bottom up. Price broke above the daily resistance and 50 MA (thin orange line) from the Dec low all the way to the 8127 daily resistance level where we got rejected after a bullish retest of the 50 MA and daily horizontal support level. Price action is bullish with series of...

Cryptoplush01

Steem hit bottom in December 2018 and is looking ready for a nice ride up in April. Price bounce from the 50 MA and trend line support straight above the 200 day MA to the previous high at 14736 where we got rejected. The 9500-10000 area where we just bounced (bullish retest), seems to be providing a confluence of support.....the 200 day MA, daily horizontal...