Keep your eyes on the big picture. Don't be fooled by the pumps and Wyckoff patterns. There is a bigger trend at play and until that is broken it is not wise to play against it. Invalidated if RSI breaks above that resistance. Plan for both scenarios.
Keep your eyes on the big picture. Don't be fooled by the pumps and Wyckoff patterns. There is a bigger trend at play and until that is broken it is not wise to play against it. Invalidated if RSI breaks above that resistance. Plan for both scenarios.
If we look at this purely based on the well-established DOWN-trend, I believe this is the most likely outcome. We have seen bounce after bounce since May and BTC is clearly trying to keep its head out of the water. The problem is we know the likely outcome of that story. This is not based on bias and is only from an observational standpoint. This is just to give...
Hello Traders, I have taken a backseat the past week or so to just observe the action in BTC so I don't overthink and overlook certain factors. Watching and anticipating constantly all of the time blinds you to otherwise obvious things you normally wouldn't miss. This applies to everything in life. That being said, I think it's safe to say BTC is still in a clear...
Hello Traders, I'm going to keep this chart simple. I, along with many others, have been paying close attention to the breakouts we have been having with BTC recently. Short term, we have broken out of the triangle and now testing 40k, which seems very bullish. I personally think a lot of the time, we overanalyze and create repeating patterns that on a larger...
As we noted in a previous idea, ETH was coming to retest the support established in November 2020. We have since slightly bounced off but we need more bounce to really solidify that movement. This particular chart is most interesting because the RSI is showing some bullish development. What makes this more interesting than usual is if it stays on this particular...
This would really be something to see, wouldn't it?
Hello traders, I am going to keep this as unbiased as possible. See my previous ideas as I have predicted this closely so far. As you can see we have made quite the climb up and are currently testing close to the neckline. The RSI is coming close to the VERY strong downtrend resistance and that must break to the upside to keep rising. My take on the situation is...
Hello Traders, this is just an update on BTC and what I am potentially seeing here. The first thing worth noting is the lack of volume we are seeing before each rise and it picking up once it reaches the top. Pay attention to the volume I have outlined at the bottom and notice where each peak is. This to me is a sign of weak buyers and a market that is highly...
BTC could potentially be making the same pattern
These are going to be the key short-term levels as BTC navigates the next few weeks ranging. We see a close this week green which means it has survived for now. BTC is still in choppy waters until proven otherwise. Elon's recent tweet sent BTC on an impulse wave up from the anticipation of Telsa reaccepting it as payment in the future again. Once that momentum...
Hello again traders, this is an updated idea after watching BTC's development further. It seems the potential to rally and break this resistance is becoming more and more likely. BTC is consolidating very nicely at the top and is pressuring itself up for a break. This is my opinion has a lot to do with the highest BTC withdrawal from exchanges occurring just a...
These, in my opinion, are key levels that we should watch. There have been strong reactions at these levels and they will play a role going forward. It will be interesting to see how BTC reacts to the El Salvador legal tether news long term. I would imagine the news has already factored in short term, but realistically El Salvador could be the first domino in a...
Hello Traders, the chart here speaks for itself. Since around January 2021, we have seen a clear downtrend on the RSI and after every rally to new ATH's, BTC was left with less and less momentum. Thus bringing us to where we are today. If you look at the recent developments on the RSI, you can see the possible start of bullish divergence. Now, this is theoretical...
Etherium looks to be retesting the previous trend-line started at the beginning of November 2020. RSI looks like there is potential to hold but we really are looking to get a strong reaction upon retest in order to stay alive. We need to see a strong reversal upon hitting the 2000-2300 level and hold this trend to avoid the Bears. I would guess many have their...
I think BTC is posturing up and setting itself up for a move. It could have laid down and died to 28k but here it stands. Let's see if its legs are strong enough to hold and send us all to the promised land. The MAIN TREND is Bearish so this would be a complete reversal. I think it would take a perfect storm to recover from here. Both Bears and Bulls have solid...
Now I will be the first to admit, I'm not an expert. The overall trend has been bearish and is still waiting to be confirmed otherwise. But there is potential upside since things have further developed. Yesterday was the largest BTC withdrawal from exchanges we have seen in a VERY long time. Buying pressure has picked up today after retesting the previous low. We...