needfulMagpie43636

needfulMagpie43636

looking like hard resistance yesterday after trying to quickly go up, then get rejected on the 50 ma on the daily. might see another large move to the downside. stop loss around 59800.

needfulMagpie43636

after breaking out of hte desending wedge i posted yesterday, looking for a retest resistance as support for a continuation to 61-62k.

needfulMagpie43636

range is still holding within the falling wedge, anticipating a dump and then a some price action to the upside. over sold on a lot of metrics and lots of liquidation action within that 58.5-56.6k range. liquidation stack around the 61-62k price range so we might be able to hit that before a continuation downwards. nfa

needfulMagpie43636

looking like there is a chance that this falling wedge might break out on an abc pattern. could potentially play out if we still continue to follow the wedge. strong resistance at 62-62.8k. i could potentially see a move to the upside since everyone is either completely bearish or completely bullish. markets seems iffy right now. would love to see a pump up to...

needfulMagpie43636

honestly not an unreal situation that can happen.btc cant break 70k and if it does i dont think there is enough buyers to hold 70 to go up .

needfulMagpie43636

Even though i think btc has topped around the 70k area, i believe we will retest it again.

needfulMagpie43636

are we in the making of the right shoulder or are we just going to continue to down trend all the way down?

needfulMagpie43636

seems like weve hit a double bottom on the daily would could mean a good sign of support but also a good sign that we may start to trend more upwards.

needfulMagpie43636

Looking for a break to the up side, seeing if the local resistance will turn into local support. Dont think we are just done yet, but on weekly btc is still bearish.

needfulMagpie43636

Trend looks like its been well respected and even when btc hit 26k it stayed above the trend line. Will have to keep and eye. Btc currently in a falling wedge. Matic extremely oversold on the daily.

needfulMagpie43636

Huge rising wedge on the daily time frame. Still believe we are in a bearish market, and the down trend will continue this quarter and next all the way into 2024. Recession is back on the table, and numbers are getting worse. Oil rising = higher inflation.

needfulMagpie43636 Updated 

After the run in 2017 we see that btc retested near the 50% of ath range of the run, then get rejected and continue downward trend where it fell another 40-60%. Looking to see if this plays out if 28k holds as current resistance. If so, no bullrun yet.

needfulMagpie43636

I think tomorrows cpi numbers will be above expected but will possible be deciding factor for what the markets will do. If we get above expectation with little change, it will put the fed in a bad position. Q2 and Q3 i think we will be bad in my opinion.

needfulMagpie43636

Shortest matic at 1.45 looking to close position near the .8 support line. Possible chance we go below .8 if we do get really bad economic numbers and inflations becomes stagnant.

needfulMagpie43636 Updated 

saw the same pattern as last bull run and then an 86% down turn from the top. RSI is also at the same as it was in the 2020 bull run. We all know inflation is either starting to creep up or will be a lot harder to manage. people are getting against the fed in hopes of a pivot this year, we saw last cpi numbers were terrible. lets hope for a long downturn from here.