Finally saw another downward push by the bears. Note the box on the chart. That box represents 48 of the last of 72 days of sideways trading. There is much indecision in the market at this point where it is most experts are saying not trade zone. My guess is that is very sage advice. Total market cap is down, while btc market cap is struggling to stay above...
One of the best pieces of advice I have gotten in the terms of charting is always look left. Historical data is very relevant in charting as well as psychology. Range on this chart revisits back to October 2017. I have marked what I believe to be a very strong support zone, between 5400-5780 (purple box) If we look back to November 11, 12 2017 Note the two low...
Saw dump after Wink ETF denial with a nice V correction rally and continuation, but since that seems that the delay of CBOE ETF was eminent and we have seen nothing but bear flags, with the exception of small rally up to the actual news of the delay. MACD is still pointing down RSI is well in to oversold, and Stoch has crossed pointing to the upside but more...
All Hope is Lost!!!! Just kidding but certainly not looking good in the big scheme of things. Have dropped below all five major EMA Indicatior, well below the EMA ribbon, the Ichimoku cloud has rejected us once again. In the overall is looks like we are trading within a falling channel within a falling wedge. Trading volume within the range is falling off...
Been learning much about EMA ribbon and how well it acts as great support resistance in the daily trend. Looking at the selloff today, in combination with the ribbon and the Fib. You can see that the top of the EMA ribbon lines up well with the .382 of our Fib and the body of the ribbon lies between the .5 and the .382. If the sell off continues I would expect...
Despite news of the Winkelvoss' ETF getting denied again by the SEC, the new gave btc the pull back that it most likely needed to hopefully get the next wave up. Over the past week on the fib the did not give up past the 236, which in turn resulted in rally after rally, resulting in heavily overbought conditions. News dropped the price to a low of 7848 almost...
Good Morning all from the east coast. Woke up to another pump overnight just like we saw late sunday night early monday morning. And our current high touch was at 8363 and historically this has been an area of resistance on the upside and support on the down. If the current pattern continues we will see a little bit of a pull back and consolidation within a...
4 hour bull flag played out well yesterday with a pump to 7440 and then a rally toward 7600 and then rejected. 4h rsi and 1hr rsi cooling off and pointing down. Looking probably for another rally to 7500 later in the day, as volume looks like it is coming back in, and again would think that we will probably get rejected one more time before another pull back...
have hit resistance at 7560 level almost right at the the 100 EMA. Should expect a pullback to either the 7200 or 7000 level so RSI and MACD levels can cool off before another push. to break the top of the fib. Though I have been proven wrong over a couple of times in the last few days, market has been traveling relatively sideways for the last 16 hours or so. ...
One channel that I follow on youtube, recommended watching Bitcoin futures and any gaps in price that present themselves in the charts. Saying always that at some point that these gaps will be filled whether on an up or down swing. IF you look closely the gap that we are approaching now runs up to 7650 futures which in turn may have a direct influence on...
I would probably expect sideways trading for the rest of the day between support zones @6620 up to the resistence @6800. I personally don't see a true retest of the 6800 for at least another 2-6 hours. As an alt coin trader, I too am waiting for the break out and am really waiting for the 7000 level on btc to get into anymore trades on any alts. Am in two right...
Looks like there will be a cool off and a pull back over the next 8-12hrs or so. RSI 4 hour still in oversold, MACD momentum pointing down, 1 hr bearish on the STOCH, and MACD. I would expect the pull back to be in to the purple zone between 6660 and 6600(.382) order for the next bounce up to happen. If we test 6800 and get rejected again I would expect a...
I am new to this so bear with me. All the talk and analysis that I have heard plays in to some of my opinion. Obviously this is still looking good for the inverse head and shoulders (bullish) as long as it holds the 6100 area. We need to see a significant bounce at some point and hopefully the next dozen or so hours remain in consolidation right around the 6180...
