After a brief retrace, we're going to see BTC attempt to break through the November 2017 7.8k resistance that was support mid April and Mid May. This is a strong barrier the pair need to cross to convince many that the bulls finally have control of this market and we're finally in an uptrend. Failure to do so will send the pair back to the previous support of 7.3k...
I do understand the overwhelming desire for this pair to climb. Not just for the holders of BTC, but for the crypto space in general, BTC takes a dump and the crypto universe follows suite, hugely annoying, but true.
But we must open our eyes to the trend this pair is currently on, and that's downward until proven otherwise. I cannot believe the chat in the...
I'm not a great believer in using these TAs, but while the pair is doing f'all I thought I'd pin my thoughts to the wall and see how she pans out.
Allegedly a falling wedge on a downward run is most likely preceding a trend reversal equal to the largest part of the wedge at the breakout.
So this would tell me that on or about the 21st we should see a breakout to...
We've have seen some tepid attempts to climb back up above the 12k mark a while back, failing on all three attempts. This plummeted the pair and the reversal should have seen it past the 9.2 mark, but as we saw, for a long time it struggled with 9.2 barely having the energy to go the full distance. The one attempt it was heading beyond 10K, it got flung back down,...
Apologies to anyone who reads this. I'm not going to spray TA all over my charts and point to H&S or MACD RSI divergence or any other bollocks like that. I look at the chart simply, to me it's either trending up, trending down or ranging. You won't find me trading in a range, I'm mainly medium to long term holding either long or short, but I'm looking for clear...
I wrote a week ago that 9.2K would be the key battle. I was wrong in that the price drove past 9.2k effortlessly and balked at 9.7k and the .62 fib level. It has since fallen back and is still having trouble with 9.2k. It's flirted with this level for the past couple of days and is loosing steam. Currently trading at 8.9k I wouldn't write the pair off just yet as...
I had thought that the 9.2 resistance was going to be the one to watch, but the BTCUSD pair seemed to sail past this hurdle without skipping a beat. It was the earlier 9.7k that did it for this pair. We've seen this support play out in March, but before that twice at the end of January, a lot further back than the more recent 9.2k levels.
The pair has dived since...
Has BTCUSD pair got what it takes to smash through the 9.2k wall? It's slow crawl upwards is reminiscent of a geriatric old man, taking 280+ hour bars to barely reach the % gains that took a mere 72 back in March, BTC is a confused kid right now.
I can't see validity much below 9k though, I think the pair deserve to live upwards of 9k. Tracing a linear increase...
Looking at the BTCUSD pair today and we're looking bullish and could be staring down the barrel of a possible trend reversal, I'm waiting for a break of the 8.4k resistance to confirm.
I've said many times before that the pair has been labouring under a bearish trend since it failed to break the 12k mark on three separate occasions, but we look like we've got...
I've posted previously how I believe that BTC is still labouring under a downward trend, I still believe this is the case. We've stalled at 6.5k momentarily, will this be the bottom or will we continue to see the previous Feb 6 low of 5.8k retested. I don't see sufficient evidence of a trend reversal yet, despite the double bottom on the hourly, I'd still like to...
While the recent bounce is looking bullish on BTCUSD, until we see a high that breaks the 12 Mar high, I'd offer caution in determining what sort of recovery we have. It's easy to get carried away on the sea of greens, but until we have a well defined high and equally well defined low, I'm sitting on my hands.
Failure to post a higher high will confirm that we're...
Apologies for all the mess on the chart, but I'm looking at the price action on the day chart right now and I can see that we're having trouble breaking up through the 62% fib levels after previously testing the 50%.
I wouldn't be happy calling a bullish movement until we've managed to get a firm toe-hold above 50% and the pair shows some strength in that...
We're seeing a series of higher lows and higher highs before the peak, then a series of lower highs and lower lows indicating a downtrend. The red arrows are the consolidation periods before breaking out.
The Final piece of the jigsaw is the final consolidation and the micro trend within.
All eyes' are on 12k, yet again. Can we break it?
We've seen BTC fail to challenge the 12k resistance level and ran out of buyers. A drop was startling an immediate with a break of the 11.2. A rally found resistance at this level and the bears took control driving it down through the previous support levels of 10.8k.
I see the price moving to the .23 fib levels of 10.4 before recovering.
Short term bearish, but...
Bulls have the floor with strong upward momentum on the 1 day chart trending well above the 20 and 50 EMA, both of which have not only levelled but are trending upwards.
The biggest obstacle now is the 12k prior resistance levels. If we manage to break these with ease, I would expect a move up to the 13.k level after some profit taking.
Failure to break the 12k...
