coinofthewest

coinofthewest

I am still waiting for another long position since March when we were at 47.5k! We are back in the neutral zone yet again with the bands constricting tighter around the center. The red resistance band up top is crashing down, while the support zone below DOUBLE bands. The support is looking stronger, and I am leaning towards long here, but not yet. We...

coinofthewest

We are right on the cusp of breaking down now. Bulls would need a bounce here + enough momentum to keep going and break up. Not impossible of course - so make sure you exit short here if we start moving up. However a break down here could lead all the way down to 10k area! If it does we would have quite a bit of volatility introduced for some quick big...

coinofthewest

After a massive pump to 21k+ today, we enter the average zone. This is a time to watch and wait. We have seen pumps reverse quickly and we have seen them pump to new heights. 23.5K would be my zone for longing and around 19.5 for shorting. I do not expect these limits to be reached so easily. Both bears and bulls will be trying to push to their respective...

coinofthewest Updated 

Bears have been reaching targets and finally breaking the low end of the floor (33k) for the first time since 2020. I am still very bearish with a potential all the way down to 12.5k. The only major hurdle in the way is the potential 20k line (not shown as it is over 4 years ago and unknown if still relevant). However we are at a battlegrounds line as it is -...

coinofthewest Updated 

This is a much riskier play to take here. The graph is the previous 6months of BTC action. It has been 2 months since the massive Bear win. Bulls had a weak and short attempt at raising the highs. Ever since, it has been a standstill around 40k with both sides making attempts and ultimately failing. A price both sides get attracted to like a magnet. The...

coinofthewest

After a bounce off the mid-line yet again, the bulls do not seem to have the steam to keep going. Indicator is showing a negative trend start to form, albeit weak for now. I anticipate a drop to 35k, which is also related to my daily chart showing the same drop within the week. I can see the drop happening within the next 3days on the 4hr chart. Of course this...

coinofthewest

Over the next week or so, I anticipate a drop to 35k before the bulls have another chance. The uptrend has failed 3 times now and the bears are now forming a new downtrend line. We are also extremely close to the current supports which bears could push through with a strong trend. Of course nothing is a guarantee, so the upside here would be to jump up to the...

coinofthewest

We have been in this average line for 2 days now. This is of course a neutral position as it could go either way. If the bulls do breakthrough the midline, there is potential for a decent upside in the next couple of days and maybe more in the future. The downside is if it bounces off the midline and makes a break back down to 37k. The bears are still...

coinofthewest

This is still a neutral position. The last potential bounce was correct and went up 10% in just a couple of days. This bounce would be heading back down to 37.5k again if it happens. Unless the bulls start making a push through the upper channel, this is likely to drop again. However if the push comes through, the next resistance is around 45k for a nice 5%+ gain.

coinofthewest

Bitcoin Hourly since Feb 25th. After reaching the top again, Bitcoin ricochets back south quickly to the midline. It gave just enough resistance to slow the bears tracks inside the channel. This is a very neutral position as either side can push quickly, followed by reversing quickly. Perhaps this is the bounce to send us back up to 45 or will it plummet here...

coinofthewest

***Please keep in mind, no idea is ever perfect. It is impossible to predict the future with 100% certainty. Any number of factors can change in an instant. This is a zoomed out idea showing back in November was the time to short around 60k. The end of the year had a bit of life to it with a potential upswing around 50k. Ultimately it failed and switched back...

coinofthewest Updated 

Latest Note: So we are entering another squeeze here with a slightly bullish signal. This is a pretty unfathomable run at 8 straight days green. I can't see this continuing the streak however it could cool off and wait a whole day going slightly red in a squeeze before taking off again. Watch and hold here. 38.5 is about the possible breakdown area. 40.8 is...