Nutty_Trader

Nutty_Trader

With the ETF news coming out tomorrow I think we could see one final fake out pump to trap some bulls before we head to the downside.... The reasons being... - Extremely bearish divergence on the 1 Week Chart as well as the 4H , 1D , 3D - ETF news coming out tomorrow (Buy the rumor, Sell the news) - Long overdue for correction - Still havent broken above the...

Nutty_Trader

Algo is looking pretty good. I think we have one more drop to the 1.60-1.65 area before we head up towards 2.20. This is just a potential play that I am currently keeping my eye on. Thanks for viewing my post!

Nutty_Trader

Would look for an entry around 7.50 with a target around 11-12. We are looking to break above the .236 fib level right now before heading higher. Thank you for viewing my post!

Nutty_Trader

If algo breaks out of the triangle to the downside we could see a strong bounce off support. 1.65 is a pretty good entry and target would be 2.15. All dependent on Btc.

Nutty_Trader

BTC has some pretty intense bearish divergence on the weekly timeframe. With price being pumped based on the ETF news this will probably end up being a classic case of "Buy The Rumor - Sell The News". There has to be at least some sort of pullback for BTC to continue healthy growth. The longer we go without a correction, the worse it will be when it does finally...

Nutty_Trader

ICP with a nice double bottom there was also a nice cup and handle that played out in the shorter time frame. Id expect the RSI to cool off a little bit and give more room to run. I think we could see a drop back down to support before we blast off. This is all of course dependent on bitcoin moving sideways but even when bitcoin corrected a bit ICP stayed strong....

Nutty_Trader

Btc is facing some strong resistance, the daily RSI is also overbought. Theres only 3 hours left before the daily close and it looks like we could potentially close the day with an evening doji star. If that is the case then I think we will end up seeing a nice drop. Thank you for viewing my post!

Nutty_Trader

Algo formed bearish divergence on the weekly chart could see a drop back down to the support of this channel before heading up to try all time high. Still long term bullish on Algo just think we could see a drop sometime soon.

Nutty_Trader

BTC is heading towards the neckline of the ATH structure that formed back between FEB-MAY. It helps to zoom out once and a while and look at the chart from larger intervals. 59.2K - 61.7K should prove to be some tough resistance to break above. This could potentially be the point in which we can see a reversal back to the downside. Thank you for viewing my post!

Nutty_Trader

If BTC breaks above these two lines of resistance then this would be invalidated. Until then I can really see us forming a double top before heading back to the downside. If we do continue to the downside look for 53.8K - 51.3K... 58K would be a good place to get into a short position if there are signs of weakness. Lets see what happens! Thank you for viewing my post!

Nutty_Trader

Bitcoin looks like its going to attempt to retest the broken neckline of the head and shoulders pattern that it formed. The neckline is also located very near the trend resistance dating back to June. Today we saw a drop to the 0.236 fib level and a quick bounce back up. I would expect Bitcoin to continue to respect the fib levels, thus some key price points to...

Nutty_Trader

I would expect a retest of the broken trendline and broken head and shoulders neckline before continuing further to the downside. If looking to open a short position I would wait until we retest the 56.9-57k area. Thank you for viewing my post!

Nutty_Trader

We have formed a bearish evening star doji candle right at resistance. The last time we had such a candle at resistance BTC fell 20% in about 12 hours. Even though bitcoin has been completely invalidating all bearish scenarios, I think this is the one that does it in. Not to mention the ridiculous bearish divergence that has been playing out. Most bears have now...

Nutty_Trader

Bitcoin is still trying to break above the neckline of the previous ATH structure. If it were to break above this and close the week above it we would definitely turn bullish. Until then it seems that bitcoin is just returning to the scene of the crime.

Nutty_Trader

Just highlighted some instances of a new moon that is followed by a correction. This is just something to keep an eye on. I am a firm believer in astrology. Its also nice to take another look at things other than from a strictly TA basis. Lets see what happens!

Nutty_Trader

Seems like we have seen this before....Oh wait, we have. There are so many factors that are going against BTC right now such as the global markets. Do not fall for the hype that BTC is somehow detaching from traditional markets and will be a safehaven investment class. Bitcoin ETF news is simply another scheme to get people to believe. This is a final trap before...

Nutty_Trader

When looking at the 4H timeframe we can see quite strong bearish divergence. I have included prior instances of both bearish and bullish divergences. With this bearish divergence I would expect BTC to revisit the .786-.618 fib levels between 42.4K-44K. Divergences almost always hold true even if they take a little longer to play out. I would certainly not FOMO...

Nutty_Trader

I have included some times that bitcoin has had either bearish or bullish crosses on the 1 week timeframe. Lets see if the MACD does indeed cross within the next week or so. Thank you for viewing my post!