TravisStroud

TravisStroud

After falling out of a descending triangle pattern, Bitcoin has consolidated in a pennant. On the 4 hourly chart you can clearly see it is close to breaking out. A break down with high volume should signal a continuation down to the next logical support at 11570.

TravisStroud

While DXY is falling to previous support DJI has broken above the falling pennant pattern. We should expect it to re-test last resistance to form a lower high and continue lower from there once the DXY finds support. See my idea on the DXY

TravisStroud

After breaking lower out of the descending triangle pattern, it seems to be having a breather. Due to the heavy volume and black swan event some may consider this the bottom. I believe it will just hold here or possibly back-test previous support while the DXY is falling to previous support. I will then expect BTC to resume lower once the DXY confirms support and...

TravisStroud

Over the last few months the USD accelerated higher on a secondary support line. This support has broken so we should expect the USD to back-test the primary support.

TravisStroud

As described in my previous idea, Bitcoin has fallen out of the descending triangle pattern with decent volume. The next logical support and target for the falling triangle pattern is down at around 11500 which is also the next high volume range.

TravisStroud

On the weekly DXY you can see the USD has successfully confirmed support on the ascending trend line. After the FED announced continuation of rate rises and lifted by .75 we should expect USD strength and a continuation up towards the next logical resistance at 120. We should expect risk-on assets to suffer as the USD strengthens. Bitcoin is currently trading high...

TravisStroud

Bitcoin fell below descending support and has since been back-testing it as resistance to create a descending triangle pattern. Break below could lead to a 50% decline to around 10,800. By that point it will be so close to the historical line of support joining previous market bottoms that it will likely drop to meet that line over the months ahead.

TravisStroud

When you look at the Bitcoin daily chart you can see that the price has reacted to the lower line of the modified Schiff pitchfork as resistance until breakout today. The upper line of the pitchfork intersects with the previous support at 49k and the upper limit of a gap that needs to be filled on the futures chart. Very short term I am bullish but filling...

TravisStroud

The daily chart attached shows several bearish signs that point to a continuation of the downtrend. The next chart shows my targets.

TravisStroud Updated 

When you look at the monthly chart of BTC you can draw a line of support to connect the lows. s3.tradingview.com On the daily chart you can see the recent formation of a clear bear pennant with the flagpole to the left. When you move the flagpole to begin at the point of potential breakout lower, the measured move down intersects perfectly with the...