riff2017

riff2017

Fellow traders, As stated earlier the post squeeze opening of BBands indicated potential danger of a further drop in price, which, hasn’t taken place as of yet. Today’s candle is going to close in about 14 hours. BTCUSD pair finds itself in a peculiar situation right now. So far the upcoming golden cross hasn’t been reflected in price action. It looks like it got...

riff2017

Hi guys, Thanks for stopping by. Here is a follow up on technical analysis of Truebit protocol published earlier. Truebit has retraced down to the vicinity of .29$ and currently is caught up between the support of 100SMA and resistance of 50 SMA. A lot depends on the next move of ETH. There is some bullish momentum in the making as can be seen on CMF and MACD...

riff2017

Hi guys, Thanks for checking out this quick update on BTCUSD. There is not much to say. BBands are moving apart from each other with price action rolling over. It doesn’t have to crater, but right now it doesn’t look pretty from bullish perspective. There won’t be a devastating move if the upper band will start angling down, or go flat, but at this moment in time...

riff2017

Hi guys, It looks to me like now's the time to relax and let the market consolidate and find its floor. Personally, I'm waiting for alignment of indicators on both timeframes. Right now there is no order in energies of the market. 9D chart shows no real inflow of money during the recent rally. 3D chart however did confirm the move by increase of capital (CMF)....

riff2017

Hi guys, Truebit has put in a higher high. It’s time to retrace now. Where is the next low going to be? Right now it looks like it may fall down all the way to $.35, or lower depending on incoming retrace on eth. Long story short; volatility ahead. Do you believe in truebit protocol? Pleas share your thoughts. Happy trades!

riff2017

On a related note to the previous analysis I’d like to point out April monthly candle. Its entire body is outside of the upper band signifying exhaustion. What are the odds of Bitcoin regaining the highs of early 2021 in the next leg up?

riff2017

Hi guys, As the price of Bitcoin is stumbling below 50k some bearish divergences have become extremely obvious at this time. Not all divergences poses supernatural powers they’re often attributed to, I know. However, the volume along with momentum (MACD has been putting in lower highs and lower lows) has become rather concerning from bullish perspective in my...

riff2017

This is developing fast! Just an analysis. Not a financial advice.

riff2017

Hi Guys, Hope this message finds all of yous in good health. I've been watching Truebit protocol for a while now. It looks to me that it has created a "W" bottoming formation between June 22 - July 21. It has put in a higher low ever since. Even tough a possible move up is not confirmed as of yet, there are bullish divergencies in the making /RSI on...

riff2017

Hi guys, thanks for stopping by! In the past few days BTCUSD has been running out of steam. It plausible that there can be a short term retrace to the previous low on the daily chart. Only to go higher afterwards. This has not been confirmed as of now, however, on the scale of probabilities it looks like a possible scenario. Please share your thoughts. Happy trades!

riff2017

Fellow students of trading, Here is an indication of the dominant energy in the market. As long as 50 SMA is angling up BTC, or any other market is trending up.

riff2017 Updated 

Looks like BTC may retest as low as 38-39k before continuing its upward move. Due to lack of time I’ve missed the entry point for a short. Simply didn’t get a chance to look at the chart. However, if this assessment turns out to be correct there will be other entries on shorter time frames, or even a retrace in a new down trend on 4H chart. This short setup will...

riff2017

Hi guys! Hash ribbons buy signal. It’s only a matter of time. #wishful thinking :)))))

riff2017

Hi guys, hope you all had a great weekend. Here is another observation on the money flow combined with momentum in BTCUSD pair. Being new to OBV i am yet to gain a deeper understanding of this indicator. What I have learned so far is that adding a moving average to OBV may give a clearer picture on inflow of money into the market. In this study a 20 period SMA has...

riff2017

Hi guys, thanks for stopping by! So many are (wishfully?) comparing current bullrun to that of 2013 calling for BTC to reach 100k or higher in 2021. There are certain similarities between the two. However, there are obvious differences that can not be ignored. Weekly close below 21EMA in the current run. Downward angle of the weekly 21EMA which didn't take place...

riff2017

Hi guys, here is another observation I’d like to share with y’all. Those bearish Heikin Ashi candles look pretty decisive although this week isn’t over yet. Large bodies with no upper wicks indicate a strong downward momentum to me. CMI started diverging weeks before the top at 65k and TSI has had a cross down in the week of March 22. Also, every crossover of...

riff2017

Look back at the history of bitcoin. Never ever has 50 SMA turned down so dramatically during a bull run. It may have flattened at times but the general direction has always been up. Sure, there is a first time for everything and it can reverse and turn back up, but for now this doesn't look very bullish to me. I am not saying that btc has entered a bear market as...

riff2017

Once a trend is broken or retracing the price action usually finds S/R at certain horizontal levels as well as moving averages. Especially when there are clusters of both. we all know that once a level is broken the price tends to move to the next level of S/R. To me, trading off of dynamic S/R levels has been rather profitable. Right now BTC is trading below its...