The "Bull Season" for Bitcoin (BTC) started yesterday when the bulls flipped the trend in the Demand Zone by devouring every last bear there was in the vicinity. I am in the midst of traveling so please excuse my absence. Finding the right time and spot to make analyze charts can be very excruciating. Let’s keep things simple. We are going to the moon! You will...
Hello, my friends! In this 4-hour chart of BITCOIN (BTC), I am going to focusing on a smaller time frame, the near-term where the action lies over the course of this and next week. But first, let me go through a quick refresher course for those who might been abducted by aliens. THE STORY SO FAR… Over the past 3 days, price has failed miserably to breakout...
Hi, everyone! I will admit that adding Poop to the title was merely a pun to grab attention. I am no Poop hater. I have nothing but utmost respect to this magical sentient stool because without him, Bitcoin would not have found “spring”. No, it’s true! Poop is a real hero. He single-handedly brought the Bull back to life and saved John McAfee from the knife with...
Being a full time trader, time is a luxury I can afford. Aside from reading books and materials related to my sole occupation, I like to observe the market and come up with patterns or techniques of my own. I have learned to always take a step back every time I get too engrossed with a particular market analysis technique. Never be too dependent on a single...
In my last chart, I had emphasized that the Wyckoff's Spring is likely at the $6,000 level (aka The Walls of Westeros) provided that price bounces from $6,000 and not any higher. Why is that? Well, it is important to remember that the Wyckoff's Spring needs to be a lower low. Of course, this is all based on the assumption that Bitcoin is really trending according...
The 7 kingdoms of Westeros (mining companies) have united to form The Wall, a colossal fortification at the $6,000 level to keep price from falling below the cost of their mining operations. Rest assured that the White Walkers (bankers & wall street backers) will try to break this impenetrable wall again in the next few days (Wyckoff's Spring). Unless they have a...
I am never good with words so instead of writing paragraphs of clarification to justify my call for SHORT since my last posting, I have explained everything on my chart with the least words possible using Fibonacci. It does not matter how popular Bitcoin has become, or how deep it has disrupted the financial sector, or how many institutional investors have come to...
Are you sick of TV analysts telling you there is a chance that bitcoin may go up or possibly down and maybe sideways too? Me too! I mean the only reason we come to TradingView is to skim off "sure-win" trades from top traders. But if all we get are horoscope charts telling us 70% chance up, 20% down and 10% sideways, why the heck do we need them to tell us. I...
So what's new in Cryptoland? Well, our favorite crypto, Bitcoin, has broken down from the multi-year bullish trend line and is now officially in Bear territory. If you have followed me from my previous chart, you should know that we have also fallen out of the previously mentioned purple bearish channel. I had estimated that a fallout from that channel would drag...
In my previous chart, I said that we were on a falling wedge. A falling wedge mostly breakout on the upside. The problem is we are NOT on a wedge but a channel and a bearish one at that. A bearish channel can breakout on the upside and downside so we have a 50/50 chance for either one of those scenario to play out. The crucial part in all this is to identify...
The weakening of the bitcoin market over the past 24 hours has proven that the bears are still in control of the game. I was hoping for the 8000 level to hold but it did not, which confirms that we are still in the giant bear cycle. So where does it leave us? As you can see from my chart, we are currently traversing inside a falling wedge. I am estimating the...
I know that many traders are expecting Bitcoin to tank further. However, I believe that the multi-year bull cycle correction was already over when we hit 6k back in February. In fact, we have been on a new giant cycle starting from April that will bring us to 22k by end of this year. Of course I could be wrong but if I am right, the road to 22k should be something...
Expect ETC to surpass the $100 mark before Summer 2018. Hold it. Reason? 1. Solid teams behind development. 2. Promising ETC roadmap for 2018: www.etcdevteam.com 3. Original Ethereum (ETH) chain. 4. IoT competitor, MegaIOTA, is flawed. 5. The only first generation altcoin that has not hit 3-figure.
After struggling from the start, Bitcoin Gold has gained traction and if what we see is the cup and handle pattern, then this golden boy is ready to take its leap to the moon.
We have witnessed the meteoric rise of bitcoin over the last 4.5 months from a mere $1,800 to $10,500. Now we shall witness the meteoric fall of bitcoin from $10,500 down to $1,800 over the next few months. Bitcoin is way over-bought. What we see now is a bubble and all bubbles must burst. Do not think for a second that we are on the S-curve that will only rise...
If I am not mistaken, the peak of the 5th wave rests somewhere around $11000. Things may get panicky near the end of the 5th wave so it makes sense to lock in some profits now. Let us see what unfolds.
The chart speaks for itself. Good luck trading!