MISSION REPORT : JULY 31st, Year 2020
As the United States continues to print magic dollars, the country delves deeper into the realization that this pandemic is going to last much, much longer then anticipated.
Bitcoin took this as an invitation to go ahead and quietly slip us a cool +25% for watching the kids while they went and dealt with the crazy...
This Is The Only Thing I've been able to look at lately.
For everyone like myself at times that feels anxious and uneasy about the market, I say zoom out.
I find it very correlated that this extremely large formation took place after the last halfnin'.
Could We see something similar play out if this break to the upside?
Could massive volatility and fomo send us...
COINBASE:BTCUSD
BTC Scared the hell out of all of us last week but it looks like sunshine could be on the horizon.
Development of a rising triangle during recovery
4H volume looks like its dropping towards something large
1H volume looks like we have one more "Shoulder of an incomplete Inverse H/S pattern" dip until this larger 4H move
3 Consecutive higher Lows...
ZecUSD Reclaimed 1H 200MA Sitting idly by at 29.0 flat.
Looking at every alt and major coin, everything looks like it is posturing to do the exact same thing ZEC just pulled off.
Zec Will retest its 21 and 50 1H MAs then attempt higher again.
If it holds a 4H bar above the 50Ma Things start looking much better above.
Our Nov. 25th Inverted H&S took us to $7850 Before Forming a new top resistance line for a symmetrical Triangle.
Neither Wicks On Dec. 4th broke this Symmetrical formation and we've continued to bound up and down as Volume has tapered off.
A Measured Move Break Out Would Take Us North Of The 2019 High Descending Resistance line of our channel if the bulls take...
After a ridiculous day, BTC has somewhat settled.
Xi said the magic words,
Trump continues to be less qualified then a carton of curdled milk to run our country
and our our (coincidentally) 4 month exactly lower trend line held intact.
Both the Upper Trend Line and an extension of the lower triangles support line were broken,
However our massive pull back has us...
So, within our channel we had quite the descending triangle breakout to no one's surprise took us to the high 7000s. Calls for a top ensued and the price continued to plummet.
BTC finally put in a decent bottom and built up enough momentum to put in a bounce.
I call everyone’s attention to our lowest close in the month of June. 6/6 resulted in a ~ 7730 close....
BTC Hit a brick wall between that downward trend line and the 89ema. Look for 9600 - 9475 Blue Box Zone as the Bull response zone.
If that doesn't hold, I suspect this symmetrical/descending/Down ward channel to break lower.
I also find an interesting support line at 9050. We'll see if it helps at all.
This looks nasty but I suspect a strong bounce off of one of...
Which ever way this breaks, its gonna be fast and hard hitting.
The 10/21/50 ma are acting as a sharp support moving price action towards the 100/200 ma.
Stochs look sexy
On the 4 Hour We can see the 50 simple acting as an overhead resistance with the 21 ex acting as a smoothing bottom support.
Interestingly the Daily shows and inverse of these two point of trading with the 50 simple acting as support with the 21 ex crushing downwards with the 10 ex helping.
If the stair step / bull flagging continues, BTC could break to the...
This could be quite an important position if this triangle breaks out to the top. Not only will the 50 sma be broken but an up move towards 10k is parallel with the 100 sma.
Either the move up or a hammer back down low 9's, This will break soon...
Fancy lines aside, I see striking similarities (volume included) between these 2 bull run cycle parts.
Hopefully the .50 hits like a hammer again...
Very likely short term more down, mid' 8000s inbound
We saw a break below the 21 ema and the symetrical triangles underlying support did little to stop the bleed down to 11k. However, this curling downtrend is getting shallower and shallower as each bottom is placed. Usdt fud aside, I like what I'm seeing and could be quite the fake out for bears expecting a further retrace. Stochs are still in the bearish control...
If This 50% Fib Retrace Is someone accurate, it will collide with the symmetrical triangles underlying support trend & the Daily 21 ema.
I Suspect something quite powerful especially with the 3 hour 200 simple moving in parallel with the underlying support trend as well.
I'm Curious if this ends up being a massively long played out cup and handle scenario.
Within a few hours we should see a pretty dramatic move back up.
