theothermurph511

theothermurph511 Updated 

The purpose of this analysis is less of a predictive nature but rather more of a record of common sense thought and observations. I don't think anyone really knows beyond a shadow of a doubt what Bitcoin will do next. The best we can do is look back at it's history and try to make sense of it in order to gain common sense ideas about what we can expect. My main...

theothermurph511

In this analysis I will give a summation of key events in PA that gave bears control. I also discuss how long I think it could be before 100K. Thanks for checking out my analysis! Bitcoin had a great run through an ascending broadening wedge that began mid September '23 at a price range between 25K and 28K. But after reaching it's ATH in mid March, Bitcoin PA...

theothermurph511

Bitcoin has been making lower lows and lower highs steadily since June 6th, as it cascades downward in a broadening wedge (blue trendlines). PA peaks within the wedge nearly touch the upper trendline until the last peak (yellow arrow) which left a gap of about $1,364 , a sign of weakness. Bears took advantage and BTC fell sharply to the wedge support. Then bulls...

theothermurph511 Updated 

Just giving a heads up to anyone looking for a bottom. It does not show up here, but on Binance dot US, we can see on all TF's that VET struck $0.03304 on may 1st and then struck $0.03300 this morning. This counts as a double bottom! I'll be back in a bit to give you an opinion on how far it will go before turning around.

theothermurph511 Updated 

This is my first published idea. Im not very tech savvy, but here goes. We are tracking a falling wedge and BTC corrected sharply, challenging the recently formed downward trend line. But now price action has mostly stalled over the last 10 hours. We are seeing bearish divergence on shorter TF's on the RSI and MACD. BTC is pressed right up against resistance...

theothermurph511 Updated 

This M formation appears on the 2 and 4 hour charts and is usually bearish. We see that price came down to $0.036, corresponding to the 0.618 Fib retracement, which adds to the likelihood that this is a bull trap. We see the same pattern printed in the RSI , which I find incredibly reliable. And We see bearish cross overs in several short term time frames up to 4...

theothermurph511

This chart is meant as a record of my thoughts and observations for learning. I appreciate your opinions. I've been tracking what looked like a broadening rising wedge/ bear flag when I noticed what appeared to be a W pattern printing on the RSI, that later printed into a H&S pattern. The H&S pattern then turned below the neck line, then lingered there...