terribletrader42

terribletrader42

The 10 Day Uptrend on Bitcoin has been broken twice. The first time it was reclaimed. The second time has not been reclaimed. Also the last tap of $43,400 ish tagged the Bottom of the Uptrend channel and the Top of the Downtrend channel. This adds to my confidence of that being the Local Top. The number of touches of the Parallel Channel indicates both it's...

terribletrader42

Bitcoin is losing the almost 1 Year RSI Uptrend on the 3D chart. This is a significant event that market makers cannot undo. Marker makers cannot fake this out. If you are like me on LTF you can be faked out. But on the 3D Chart this timeframe is high and fakeouts are extremely rare. Do not be naive and blame this downward move on the SEC. This downward move...

terribletrader42

Engulfing candles are an indicator of a trend change when they eclipse not just the previous candle but multiple previous candle bodies. The Bitcoin Weekly chart is in such a position right now. It is extremely likely that this 1W candle will close as a Bearish Engulfing. If 26,600 is reached before this candle closes it will signal an even deeper draw down...

terribletrader42

Since Bitcoin has failed to reclaim 29,600 I am Short. Invalidation would be a 2H close back above 29,600. Thus far since the dump Bulls have not been able to organize enough push the price back into an uptrend scenario. On LTF I am seeing Bears in control. The previous visit to this level had a quicker reclaim and more Bullish price action at this level. The...

terribletrader42

I am more biased towards shorting by nature. However I cannot ignore this rare 2D strong buy signal. Of course everyone wants to long at Resistance but not me. I've been hesitant of longing because of various Bearish Divs on OBV and RSI. The recent price action has convinced me to switch biases to going long. Ideally Bitcoin price stays above ~$28,161 which...

terribletrader42

Sometimes this is better at predicting BTC moves. I've often found charting this inverted allows better mental alignment.

terribletrader42

Lines on chart magically make number do what ... I want?

terribletrader42

Rising Wedge and increasing Volume on down candles