bubbleb0y

bubbleb0y

What a couple of months it's been. My personal expectation was for BTC to find support at the 200wk average and spend most of 2019 rangebound similar to what we saw in 2015. This turned out to be way too pessimistic as BTC spent only a few months at the lows before a face-melting rally that left many looking for an entry point that never materialized. At this...

bubbleb0y

At this point it seems as if Bitcoin has enough momentum to make a push above $4000. I think next resistance will come in the form of the 20 week moving average at around ~4450 or so. Would look to short there with a stop moderately above the 20wk and a take profit at around the 200wk (~3400). I look to the structure during the prior bottoming period (2015) as a...

bubbleb0y

After nice bounce off 6k lows, next serious resistance should be the weekly 20ma at approximately 10,100. Both the 3day and weekly stochRSI are beginning to round off their lows, especially the 3day which has already broken out above 20. I feel there is a lot of coiled momentum that built up during the consolidation range of 8k at the 200dma that is now beginning...

bubbleb0y

The cross/re-cross of the 50/200 EMA on the 4hr chart seems to indicate that the rally is back on. Prior cross/re-cross in late January provided an attractive entry point to ride a strong leg up, and I think going long at this point should be a good trade until at least ~1250 levels, and would get out at that point to wait and see if price can break ATH again.

bubbleb0y

Trying something different and looking at price using Ichimoku cloud - on the daily chart, it seems like we have a lot of empty space between here and cloud support, and price has just broken below both moving averages. I'm bearish in the short term and anticipate a test of cloud support over the next week or so. Would go short here and trade until cloud support...

bubbleb0y

BTC broke through my 950-1000 target and hit ~1130, just shy of all-time high before a serious retrace. I think this was beginning of handle formation that should see us retesting the lows on the pullback before rounding out the handle and breaking out to new highs.

bubbleb0y

Bitstamp confirms the cup & handle breakout originally seen on Huobi, moving past prior $778 high. Next serious resistance should be encountered in the mid/high $900's indicated by the upper green line. The exact direction that the price will take is unknown, but my target is now ~980 with some minor/moderate corrections along the way.

bubbleb0y

Although BTC is largely traded and interpreted purely from a technical lens, I think it's important to attempt to outline what (if any) the fundamental drivers of price could be. This graph plots the BTC/USD chart against the USD/CNY chart (I would've used Huobi in place of BitStamp, but it appears TradingView does not have chart data on Huobi going back more...

bubbleb0y

Retrace to middle BB zone @ approx 650 to complete handle then breakout. Recent weekly MACD crossover is bullish.