ImpactDLT

ImpactDLT

So there seems to be multiple bear flags getting smaller and smaller. Any ideas on what this means? I am hoping we bounce off the 200MA and the end of the bear market. Any way this bear flag TA indicates a reversal soon?

ImpactDLT

Last TA i noted that we were touching the neckline of a down sloped neckline H&S pattern but we still needed more volume to break out otherwise it wasn't looking good. Unfortunately we reversed the uptrend by ~8% right now... womp womp womp. There is still plenty of fear in the market if we've hit bottom or not, which presents good buying opportunities when...

ImpactDLT

Previous TA, I predicted that we would complete the right shoulder of the H&S. You could argue if you play around with the neckline that we've completed the H&S pattern, but the lack of volume on the right shoulder is very disconcerting. In order to break out of the H&S for a very decent gain, the volume has to increase on the right shoulder. If we break...

ImpactDLT Updated 

From my last analysis, we broke out of descending triangle and hit target of $4000. I didn't think we would hold on to the support at 4000 for long, which IMHO is good to solidify the bottom. I still think we are going to be in the red line zone 3500 to 4500 for a while. But... Right now we are starting to develop the right shoulder of a inverse head and...

ImpactDLT

Uh, title says it all. VXX is going up as the S&P goes up... watch out Be safe! Wear a condom on the long.

ImpactDLT

Follow up from Based on the past BTC charts, the two horizontal pink lines are shaping up to be a solid long term support 3600 to 4500. Both lines will be tested multiple times IMHO in the next 3-6 months. Sell above and buy below. Short term, we should test the upper limit first. If we are able to keep to this range, I would say with 80% certainty that the...

ImpactDLT Updated 

The last analysis was right after the huge drop after breaking the 10 month descending triangle. There was a significant increase in trading volumes as is per usual during such a steep decline from 6000 to 3500 (~40% drop) in 2 weeks. In my previous TA I've always warned that we wouldn't see the real bottom until we have a significant volume break in the trend....

ImpactDLT

Trading volume is up, a good sign for the bottom or close to it. Weekly trading volume these last two weeks have been over double the last 2 months. This is a good sign. In order to find bottom there must be a large volume of sellers and buyers (aka capitulation). But just because this might be the bottom, it doesn't mean we can't double bottom, like we did...

ImpactDLT Updated 

results, but it does give an indication of what might happen next. Let's review some historical facts to see what we think bitcoin might be up to. This is the 1W chart. 2013-2014 BTC Bubble The last boom and bust BTC rocketed 800+% and the subsequent bust was ~82% and took 406days to reach bottom. It stayed near the bottom for ~266days. There is usually large...

ImpactDLT Updated 

Dear Crypto Friends, Huge updates in crypto news. Def must read: abacusjournal.com Key takeaway from this: Delivering actual bitcoins, not just a contract like CBOE and CME. www.newsbtc.com Key takeaways: Fidelity is going to be offering crypto related investments, goldman sachs invests in crypto custody bitgo (goldman sachs always knows where the money is)....

ImpactDLT

A few new pieces of information to consider. 1. Bitfinex has restarted USD deposits but with additional wait times and a pleading message to not dox the bitfinex bank accounts because it is bad for everyone. 2. TUSD / PAX and other regulated stable coins are still trading at a premium vs USDT 1% to 5%, even after the initial cause (deposits being suspended) has...

ImpactDLT Updated 

Interesting developments. I personally think it's mostly FUD but time will tell. Bitfinex USD withdraws are still fine (except for a few) but if it was really turned off, there would be much more concrete evidence. I made a crypto withdraw from bitfinex and it took only 10 minutes. Either way, bitfinex made a statement saying that deposits should be resumed...

ImpactDLT

Lower and lower volatility is what is required to move into sideways trend / plateau before next bull run. If you look at most boom and bust cycles (previous BTC cycles / nasdaq) there usually is a high volume sell off at the bottom, when things are most dire. I still believe that has not happened yet. Every dead cat bounce from Jan 2018 has been a slower and...

ImpactDLT Updated 

Expanded analysis. Bulls are holding the 6500 support pretty well, but volumes have been very low. Hopefully this is capitulation but looking at Nasdaq and other charts after a bubble and burst, there is usually a period of capitulation then a high volume sell off and recovery. I believe we haven't seen that yet but I suspect that will be soon. Be patient Key...

ImpactDLT

A continuation from last analysis with timelines drawn out a bit further. We haven't had the large volume break out yet and that's what we need to get out of this stupid descending triangle. Nothing much happened over the weekend, which is a bad sign. These next few days will determine which way we go. There's not quite enough shorts for a short squeeze...

ImpactDLT Updated 

I've expanded my TA a bit further from before. Looking at BTCUSDSHORTS it's not quite at the high that we need for a short squeeze, so it will continue down to the target zone (circle). This bounce will determine a Bear or Sideways market. The blue support line inside the target circle if it holds up we should go into a sideways market (my guess) If it leaves...

ImpactDLT

So far 3 for 3 this month. On the last one I hope you had set your stop losses. For this TA, I expect us to hit the 6k target support and not sure where it will go from there. Will update as soon as we get there. Good Luck

ImpactDLT Updated 

Set your stop losses now. If we break out of triangle, great! If this rally does not hold up, I believe we might break lower resistance around 6200. Especially when the SEC delays the ETF again (which is what I am expecting). Good luck be safe.