cyberalchemy

cyberalchemy

It appears that BTC is forming a big head and shoulders pattern within an ascending broadening wedge. If it continues to follow the red line it will retest all key price levels and react to trend line support and resistance. I think it absolutely must retest the $74k region and this pattern is a straightforward way to get there.

cyberalchemy

Just like before the dump in early November, BTC wants to go up and test the quarterly pivot point at $17,822 before dumping to $13k.

cyberalchemy

It's looking a lot like November 4, just before the dump. The RSI is massively oversold on the 4 hour and we appear to be nearing the end of an upward push about the same as then. I don't think BTC can go much higher being so oversold so it'll drop some, but will it go all the way to $12k in another big dump?

cyberalchemy

BTC keeps getting denied at the centerline of the main downward channel. When the upward channel that's been in play since November 21 intersected with the main downward channel there was a steep breakdown. Now I believe we will finish out the H&S as drawn until we reach the bottom of the upward channel on Thursday. Then there will likely be another dump down to...

cyberalchemy

It appears as though we may be headed down the last half of a head and shoulders pattern. We might see $15k or lower within the next week...especially looking for the low around full moon on December 7.

cyberalchemy Updated 

Chart is self-explanatory. What do you think? Are we headed to $15k this week?

cyberalchemy

Bullish divergence on the 4 hour chart. Mercury goes retrograde on Tuesday too, which often results in a pump. I don't know as this will reverse the overall downward trend, but I do expect a pump to the top of the downward channel at least.

cyberalchemy Updated 

BTC has been quite bullish but I think it needs to retest $36k support first. Mercury retrograde is often connected with a huge pump and as you can see on the chart it is coming up in May. New Moon and Full Moon usually come with a major trend reversal and New Moon is in 2 days.

cyberalchemy

Since April 25, BTC has been moving in a channel creating a big head & shoulders pattern. On April 30, it entered what became a smaller head & shoulders pattern rising into a symmetrical triangle pattern. This symmetrical triangle is ready to break out. I think there will be a fakeout to the upside weekly pivot point followed by a sharp drop. In addition to the...

cyberalchemy Updated 

BTC has fallen to the April monthly pivot point at $39,500 and bounced up to test the weekly S1 support pivot point. It was rejected and after a stop hunt up to $40,693 it appears to be headed down another leg. This is what I predicted in my March 29 idea: www.tradingview.com I think we'll test the weekly S2 support pivot point at $38,344 which is also the...

cyberalchemy

BTC is nearing the end of a symmetrical triangle. The opening of the triangle was 3.8% so we can expect a drop of about the same amount if it breaks down. That lines up with where I thought it would be in my March 29 idea: It's a day and a half late but falling as I thought it would so far. Since it's later than expected, it may stop at the trend line for the...

cyberalchemy Updated 

BTC has nearly reached the weekly R1 pivot point and the top of a channel. There's a chance it could muster another small pump up to $49k but then I think we'll head back down to retest the $38k support. It's also possible it could bounce off $41.5k and resume upward action, but I think we'll be in correction territory for at least a week starting soon.

cyberalchemy

Looks like BTC just completed the top of the head in a Head & Shoulders pattern and is headed down the other side.

cyberalchemy Updated 

We're at the end of a symmetrical triangle that has seemed ready to break up a couple times. Uncertainty in current events has kept it down while allowing time to finish the base of a big W pattern. Now oil prices have dropped and there is a some hopeful news in the crypto regulation area in the US. Some kind of action needs to happen and as you can see with the...

cyberalchemy

BTC has been in a huge triangle since the end of December. For a while it appeared to be a bullish symmetrical triangle, but after the last two breakout attempts it doesn't look like the market is bullish enough to really pump it out of the triangle. Now it is looking more like a bearish descending triangle. Full moons generally indicate the beginning of...

cyberalchemy

Since mid-December BTC has been in a symmetrical triangle. It broke out on February 28 for 3 days as it tried to reach the 48K P1 yearly pivot point. It didn't quite hit 46K before dropping to the bottom of the symmetrical triangle again. Now it looks about ready to make another try at a breakout. If successful, it will likely retest the 48K P1 pivot point. If...

cyberalchemy

BTC looks ready to break up...maybe to $44K by the beginning of next week.

cyberalchemy

I use astrological indicators so if that's not your speed, this one isn't for you... Mercury Retrograde - January 14, 2022 The Mercury retrograde cycle often has a huge impact on BTC. The 3 weeks before Mercury goes retrograde are often marked by falling prices, with the bottom coming in about the time Mercury goes retrograde. There is usually an initial drop...