MadCybertist

MadCybertist

I had a good stream this morning and went over all this but I wanted to get a new chart up showing my thoughts for the day..... I closed out my two long positions last night at $8300 (a leveraged long and a USDT/XBT buy in long). My signs for this were a few things: 1) Our Heikin Ashi candles were slowing down momentum 2) We were heavily oversold RSI 3) We...

MadCybertist

I believe we will see a couple days' correction for BTC upwards to possibly around $9.5 tops. After that we will most likely continue our bear trend we are currently in. You can see that we are currently pretty far off the Tenkan line on the 1d charts so we will want to consolidate back to that line. You can also see that the Stoch is tell us that our RSI is out...

MadCybertist

Will BTC keep enough steam to break $11k? It all depends on what the 1H Heikin Ashi candles do. In order for us to break $11k we will need some good steam on the 4H candles. That won't occur unless we can get a nice consolidation on the 1H before we head to the $11k mark. 4H candles have room to grow but the 1H are running out of steam for sure. This is supported...

MadCybertist

We have a bullish convergence forming on BTC currently. What this signals is that we are running out of room on the current downtrend momentum. We should see BTC make a flip and start on a bull run shortly. Being as this is on 4h candles I would assume this would occur over the next 24-48 hours.

MadCybertist

It looks pretty clear that we have some significant resistance around $9.5k. My initial call on $9.8k was based off of us rounding back down to the Tenkan line. That has occurred and currently held. If we do go $9.5 and actually bounce (vs breaking through the bottom of the Kumo Cloud) I would personally hold off for 1-2 candles before I would buy in myself to be...

MadCybertist

Things are looking bleak for BTC/USD on the 1H chart. I ran out of space to write the word "bearish". This is a very short time frame for me, as I usually use 4H and 1D candles. Even on the 4H things are very bearish looking as we broke through the Kijun line which is a big resistance level and bearish signal. My call on this is that we are heading down towards...

MadCybertist

COINBASE:BTCUSD should be pulling back to the Tenkan line as it's been off the Tenkan for a few days now. I had originally thought that pull-back would have already occurred but it appears we are going to head to the bottom of the Kumo Cloud (around $12k) before we get this push back. I do not see us breaking through the Kumo Cloud without retracing back to the...