rgeddes

rgeddes Updated 

I hate to make calls that are bearish when people are crying out for a bull run but I can't stop thinking of a very real scenario that will temporarily bring us down before up. For most of this chart I have been expecting a double bottom to match the left shoulder at 6100. It seems to have avoided dropping down to this level - so I am not going to say that this...

rgeddes Updated 

Welcome everyone to the weekend. We have been waiting on what looks an awful lot like a inverse H&S to play out. We seem to have experienced difficulty breaking out of $6500. These shapes are rarely perfect - and with the bearish belief that we will go further down in price - many are sitting on the sidelines waiting for some sort of sign. The pattern still...

rgeddes

Get ready for the weekend everyone! BTC seems to be following an inverse H&S pattern - which essentially means we are moving back up to test $7200 in the next day or two (depending on weekend trading). Volume is low right now as we continue to trace the right side. Be cautious of taking any short positions during this time - weekend trading sometimes...

rgeddes Updated 

If you 've been following my charts - you will have seen quite a few "buy" positions. Yesterday had an excellent "short" drop where I Identified the "head" of this pattern was being created. I thought worst case we may drop as low as $6000 as the head was being created for a short time - but we stayed above that mark. If you look at the pink triangle on the...

rgeddes

Yesterday we looked at BTC and I mentioned two scenarios (which usually bugs me about other peoples TA). I did make the case that we were going to rebound at the level - but I also drew a bear line which would indicate things may drop down a bit further (which is what happened). In the hours since, the chart has given an indication of where the market is set to...

rgeddes Updated 

Yesterday we had very little indication of what was going to happen next with BTC from a short term technical perspective. We had a little sideways movement – then a run up to the 6900 area – before a bounce back down. On the chart you will see a light blue line indicating a double bottom. The pink line on top indicates a reversal. The yellow triangle is where...

rgeddes

Last time I wrote about BTC we had reached the conclusion of the H&S pattern. BTC then dropped further and has been moving "sideways" on increased volume since. There is a lot of money on the sidelines - Tether is overflowing with wealth waiting to be dumped back into BTC once people are comfortable that there is a breakout. I am predicting a bullish breakout...

rgeddes

I am a long time holder of XRP - but I don't mind scalping it along the way. Traders help get your money in and out of markets - don't hate the player hate the game! Ripple has followed much the same pattern as BTC with a complete H&S and with a drop below it. Was the drop a sign of things to come? Did the groundhog see his shadow? Predicting bottoms makes...

rgeddes

So BTC again has proven that sound TA can predict most of its major movements. The entire right shoulder played out as planned and triggered some of my own buys in the 6500 area. We have fallen out of the H&S pattern - usually we see either a rebound or a decline at this point. Normally I would be bullish at this moment but there are more factors to figure than...

rgeddes Updated 

BTC did exactly as my analysis predicted - we have traced the right side of the H&S and will need to go a bit lower before the current pattern is done. Many if you probably bought some BTC between 7500 and 7600 - its been banding between these prices for a large part of the pattern. This is not a bad long position price. If you have been patiently waiting for...

rgeddes

BTC did exactly as my analysis predicted - we have traced the right side of the H&S and will need to go a bit lower before the current pattern is done. Many if you probably bought some BTC between 9500 and 9600 - its been banding between these prices for a large part of the pattern. This is not a bad long position price. If you have been patiently waiting for...

rgeddes

BTC has been following a pretty clear H&S pattern on the USD/BTC pair. Its a little less clear on the CDN chart due to lower volumes. One of the challenges in trading CAD/BTC is having enough volume to execute your trades. I haven't seen much CAD analysis - give me a like if you care about CAD. We are going down the right side of the H&S - we may drop below...

rgeddes Updated 

BTC has been working through a H&S position for a number of days which has resulted in sideways trading. The right side of the pattern is higher than expected which should indicate a reversal (the price is going to drop). There is a lot of positive news and other factors like Institutional investing that should make BTC much stronger. The fundamentals at this...

rgeddes

DGB has been good to me lately. As BTC continues its pattern - DBG has provided many short opportunities. I dont mind making short trades for a few percent on my holdings. Some people go for the longer duration buys - I never feel shy about locking in some gains. DGB has continued to rise and fall a little bit independent of BTC. I think DBG is set to go...

rgeddes

So here we are on June 8th and it seems like BTC is still working on its right shoulder. I talk alot about patterns which confuses some people -here is a breakdown for you of how to trade the current situation. Most analysits will give you a few likely scenarios - I don't like this. I am a trader just like the rest of you - so the calls I make are the calls I...

rgeddes Updated 

Good Morning Traders, This is another BTC/USD chart that I have put together for those of you wondering what the heck is going on. The general market crypto market turned bearish a while ago - but I believe that BTC is bullish forever. Its always a good time to buy BTC - but some times are just better than others. For those of you who trade and are looking to...

rgeddes Updated 

In my last analysis I predicted a Steem price between 1.75 and 1.90 which is about where we are right now. Steem seems to be inching lower lockstep with BTC. If you do your BTC analysis you will know that we are likely going to fall further before we move any higher (around $1000). Full disclosure I hold both Steem and Steem Dollars. The goal of most alt coin...

rgeddes

Most of you probably follow BTC so I wont bore you with the details. My analysis says BTC is falling and will continue to fall until it bottoms. Ripple is in a similar situation even though the charts look different. It looks like Ripple has formed a small H&S and it looks like it will begin tracing the right side. If you look at the volume and the buy side...