TraderFromTheNorth

TraderFromTheNorth

Nasdaq has been selling off. Is this an economic collapse? Too early to say. Nasdaq has been flying high since the Coronavirus crash back in March of 2020. It's been long overdue for a steeper correction. I was shocked that it was able to keep climbing without a steeper correction in all of 2021. Nasdaq was overbought for the WHOLE year. So as long as the Nasdaq...

TraderFromTheNorth

I posted this chart previously but just updating this since we had a drop in Bitcoin in the past hour. It only fell back into the current Support Zone around 40,000. Until it breaks below this area, I'm not too concerned. If it does, then we will cross that bridge and discuss possible changes in crypto market conditions. As long as it continues to hold at this KEY...

TraderFromTheNorth

I've been observing some correlation between Bitcoin and Nasdaq. It seems that every time Nasdaq starts to sell off a bit, Bitcoin does as well. Could Nasdaq serve as a possible indicator for Bitcoin? Something to continue to monitor.

TraderFromTheNorth

The Crypto Total Market Cap is in almost an identical situation that it was last summer. It fell down to a Key Support Level and the RSI was oversold at that time. It is currently in the same situation and the new Key Support Level. Previously, the Crypto Market Cap was holding steady around 1.2T. Currently, it's holding steady around 2T. If it can continue to...

TraderFromTheNorth

Bitcoin is at a KEY area at a KEY LEVEL. This 41,000 area was a previous Resistance turned Support. This also coincides with the Trend Line on the bottom if we follow the lows. Bitcoin held here strong all weekend and also throughout today. If it can continue to hold, we are likely to turn back around here and head up. If it breaks below this point... hit depends...

TraderFromTheNorth

Sandbox has fallen all the way down to this great value area. This is what I call "The Dip".

TraderFromTheNorth

Axie Infinity is in a great buy area based on what I'm seeing on my charts. This is what I call "The Dip".

TraderFromTheNorth

Bitcoin has reached the 2nd Deviation of the bottom Bollinger Band... this is more confluence to show that this is likely the bottom of this drop on Bitcoin.

TraderFromTheNorth

Bitcoin has fallen all the way to the bottom of this Support Zone, similar to how it did back in the Summer. Last time Bitcoin came down to the bottom of the Support Zone, it indicated the bottom. This looks likely to be the bottom of this drop. If so, this should be the turnaround point to a new All-Time High, similar to last time.

TraderFromTheNorth Updated 

Bitcoin has established a floor with the high spike on the VIX indicator. I've been observing different indicators and looking for a correlation from the Stock Market to Bitcoin. The VIX indicator has been an interesting one to observe alongside Bitcoin's movements. * The VIX Index is a calculation designed to produce a measure of constant, 30-day expected...

TraderFromTheNorth Updated 

Bitcoin is still trending up. It bottomed out in the summer. It has been trending up with HIGHER LOWS since that time. The most previous LOW was in late September. The current LOW is now in December. Every time we've gotten to these new LOWS, Bitcoin creates a FALLING WEDGE pattern with a breakout before the next leg up. When Bitcoin broke out of it's FALLING...

TraderFromTheNorth

Bitcoin has been holding above the yearly VWAP nicely. The RSI has bottomed out and we are now getting Bullish Divergence on it now. All signs still pointing up and still Bullish.

TraderFromTheNorth

Now that Bitcoin has settled down after this correction, there are two paths for Bitcoin to continue up from here. 1. Bitcoin goes parabolic from here with no stops (or limited stops) until it creates a new next All-Time High 2. Bitcoin creates a reverse Head & Shoulders pattern, then goes parabolic until it creates a new All-Time High

TraderFromTheNorth

An almost identical look as we are falling into the Yearly VWAP on Bitcoin from OCT '21 to DEC '21. Volume has depleted on this downward move. We've seen how quickly things can escalate after giving us this look. Up we go!

TraderFromTheNorth

We have a lot of confluence on Bitcoin currently. Staying above the Yearly VWAP nicely + Divergence on the RSI + Falling Wedge pattern. The FED meeting and Quadruple Witching on Thursday and Friday were the two last days that a threat of another drop was possible. Bitcoin survived both of these events and held the support very nicely here. This was a very...

TraderFromTheNorth

I'm removing my BULL shades and BULLISH bias for a moment to consider that possibility that ETH may fall further. After the FOMC announcements today, if it's bad news, I can see Whales taking advantage of it by doing one final dump on Bitcoin and Ethereum. If this were to happen, I see these value areas on Ethereum. If there is no reaction, however, then it should...

TraderFromTheNorth Updated 

After dropping to this Support/Demand area... Bitcoin has hung around the past couple of days. If it was going to continue up, we would be out of this area by now. This is the time for Bitcoin to make a strong statement if we are going to continue up soon. If we keep hanging around this area... or worse... drop below the previous low on the dip, this could drag...

TraderFromTheNorth

Bitcoin - I've seen a lot of imaginations running wild with their Bitcoin charts here on TradingView. However... let's just keep it simple and go back to the basics. In the grand scheme of things... we're still trending UP!