Mike_McCarthy

Mike_McCarthy

EUR/JPY 1/20/2021 16:05 Fundamental/Sentimental Cot: COT data suggests that price action follows hedge positions quite closely, in fact is rather sensitive to it. There is little delay in it’s effects as well. Now, from a non-behavioral perspective, although it may seem that hedges are overdue to change in direction relatively overdue. However, a slight tick...

Mike_McCarthy Updated 

Retest at the 50 with a possible false breakout retesting the a trendline on the bottom side before and the 61.8 before free fall.

Mike_McCarthy

Been a while. Another quick pump seems likely. Not sure about what happens afterwards.

Mike_McCarthy

Trade 1. Long

Mike_McCarthy

Demo trade 1. Short

Mike_McCarthy

What's the difference between a BTC Technical Analyst and a Narcissist? Though both 'buy into' the delusional prospects of their practices, even a Narcissist knows not to do that literally.

Mike_McCarthy Updated 

M formation. Retest neckline the neckline real quick.

Mike_McCarthy

Bitcoin has reached continued to be bullish now on this 7th week. It is currently retesting this trend-line up here, and I believe that we are at a determinate zone for BTC. It'll take anywhere from a few hours to a week to know for sure. Two paths: $15,000+ $3,000-

Mike_McCarthy

I let the fibs speak for themselves. Clear possible H&S in the future. Extremely bearish! Especially on the 4H Economy needs to re-open regardless. A healthy market fixes all problems.

Mike_McCarthy

Early 2017, when short-selling wasn't a thing, we had an 8 week run. Are we over due? I'd say time will tell soon, likely this week. Either way, we react to what the market makers have planned for us and that's it.

Mike_McCarthy

I asked myself a while back; how will the Bitcoin-halving effect price? I am taking the position that Bitcoin will increase buying pressure , regardless of all factors considered, most retail traders and even long term investors will see this as just incentive to invest more, and this same narrative will likely be pushed by the media as it has in the past. With...

Mike_McCarthy

This analysis is a bit more speculative as I believe it is very hard to predict any securities price-action in the medium-term. With that said, I am providing on very solid scenario: BTC has been bullish for 5 weeks in a row, that being one of the longest 'bull-runs' in BTC history, that of which has consisted of many bullish channels. Often BTC breaks these...

Mike_McCarthy

Yesterdays analysis that was published relied mostly on support and resistance levels but I have come to realize that pherhaps, atleast currently BTC has had a hard time respecting support and resistance level and favoring trend lines. Today's possible scenarios are still looking bullish for the most part. Trend line marked 'Neckline' has served as a very strong...

Mike_McCarthy

Important resitance levels were broken earlier today and now 7.4k has become the new retest area. Once retested, we'll drop down to the neckline at 7.1k area and from here we can expect two main possibilites. 1: BTC price breaks through the neckline and we continues within a 7.1k - 6.7k area with pherhaps a more bearish longterm scenario. 2: The 7.1k neckline...