MontyMacht

MontyMacht

Kraken's CEO is saying that BTC is going to infinity, but what do the technical indicators say? There's a clear shift towards flattening in many indicators. All charts but the day one are showing OBV declines even though the prices were more or less climbing. The relative strength on the day chart is witnessing shift downwards and I expect not much overbuying...

MontyMacht

The physics of the market are not that different from the environment. Whatever goes up will eventually comes down, and if it goes up so fast without the opportunity of steady growth and maturity, it will eventually go down faster, similar to the Newtonian laws. Inn market terms, quick gains mean quick cashing out, because investors don't like volatility when they...

MontyMacht

The RSI day graph is showing clearly that support is holding horizontally while the ceiling is getting lower. I didn't expect much resistance at the 60000 line giving the momentum that was built a few week ago, but I had expected tougher resistance on the medium term. This only enforces my view. The fragility of the situation is due to some factors: * Threats of...

MontyMacht

We are currently hitting the resistance line as indicated by Fib and BB in the 1D chart. There might be some give and take, yet it will passed eventually without much pull back. What lies next is what's more interesting. The trend is clear as the floor and ceiling are almost parallel. Yet, there are signs of some slow down when comparing this time's correction to...

MontyMacht

History repeats itself abd this is usually obvious price charts. This one is obvious and based on other technicalities, the bullish rally this time should endure much more, since there's a BB squeeze on the 12h chart.