walkerjitzu

walkerjitzu Updated 

Many think this is the start of a new bull run - i think it is the end of a bull run. The question is, where would be the top? Probably slightly above the previous top of 49k would be a good bet, because lots of stop losses would be placed there. So, in my view, today it's going to make one last big spike up there, and then proceed downwards as i have depicted in...

walkerjitzu Updated 

Bitcoin touched many times the support line depicted in the chart and failed to break it. It's quite possible at this point that it will spike up to 45k, as a last point of supply in the Wyckoff distribution, to then proceed downwards. Stop loss at around 42.200, or when the support line breaks.

walkerjitzu Updated 

A lot of hype, most of us are waiting for the big event of SEC approval, the first deadline should be tomorrow. It all would seem very easy, there is the approval and Bitcoin price goes up, straight up, indefinitely... right? But who would be those that would start buying at this price? retail investors have been placing their bets for a long time already, fearing...

walkerjitzu

From this analysis, it seems that we are in Phase C, testing the remaining supply at these very high levels and in these uncertain macro-economical conditions. It could be that we are at the last point of supply but more likely that a bull trap is just setting up, targeting 10,500, lurking the public in to buy after the breakout of some major resistance lines, so...

walkerjitzu

A new lower high as been set at $10,000, where Bitcoin got massively dumped for 2,000 points. The line coming from the downtrend from the last two peaks of $14,000 and $10,500 proved to be the roof of this seemingly unstoppable rally, exactly on time with the halving, which is happening today. The general sentiment is still that this was just a shakeout, and that...

walkerjitzu

Is Bitcoin going to the good old Moon straight away, or is it time for some retracement? It could, of course, anything is possible for Bitcoin. 12k in a week, 20k in a month, 100k in 6 months, why not! But who wants to actually buy and hold Bitcoin, which has very little "real" value in the world of Dollars and Euro, in a time where everyone is talking about a...

walkerjitzu

It seems that despite the recent drop, that immediately gets everyone screaming a catastrophic crash, Bitcoin just wants to go up. It makes sense, because when the direction seems too obvious (down), then it will very likely act in the opposite way. We can see that after many failed tests of the 50 MA daily , the market managed to move over it (pinkish line)....

walkerjitzu Updated 

Hi all, There had been a big obvious Head & Shoulders patterns building up lately, that I sketched in pink. The neckline (red line) is around $6,000. If it would break, the consequences would be big and price would drop significantly, at least to 5800-6000. But, bulls have been in control of the market lately, possibly trying to raise the price only to sell at...

walkerjitzu

Bitcoin has been rejected by 50 MA daily twice: the last failed test of yesterday made price drop to $6,600. More downward movement is likely to come. On daily chart we can see a gravestone doji for yesterday's candle, which could signal a trend reversal (at least for short term). But, I still think that the crazy non-sense rally is not done yet, so for now I'm...

walkerjitzu Updated 

The recent upward movement seems to be repeating what happened a few weeks ago: especially by looking at RSI is noticeable how both times it has been climbing up in an upward channel - and last time it broke down of it, the price also broke down the ascending channel to find a higher low. It seems that we are in the exact same situation, and that we may find...

walkerjitzu

After the crash of Bitcoin and the whole stock market, BTC has recovered significantly and it's now climbing up in an ascending channel. Right now it's testing the resistance at $6700 formed by the recent pump on the 20th of March. One thing that it's important to consider these days, it's the undeniable bound with S&P 500, which today seems ready to have a relief...

walkerjitzu

Is the bottom in yet? Maybe. Maybe not. Bitcoin is at a critical point, facing big resistances around $9000 and shyly looking up to the major downtrend trend line that started from the top of $20k and that goes through the lower high at $14k. It could be that it's just about to print another lower high at $9k , where it's currently sitting at. There are some...

walkerjitzu Updated 

When the waters are not clear, it's a good practice to take some distance and observe things from far away. Assuming the cyclic nature of markets, and the symmetrical beauty that has played out so far in Bitcoin, from this chart we can see that after the bullrun of Nov '13, that ended with a dump making the price crash of 87%, Bitcoin moved up and down inside a...

walkerjitzu Updated 

The downtrend line starting from April '18 has just been penetrated, after having surpassed EMA 50 which has proven itself a strong resistance over and over again. Volume is good, Bitcoin is also aiming higher. Mid term target is at $3.80, where previous support and EMA 200 wlll probably meet. It seems like a fairly easy trade. If Bitcoin changes his mind and...

walkerjitzu Updated 

The chart is very self explanatory. EOS is walking on thin ice, and as BTC/USD is going for a downward correction, the support for EOS will likely not hold and hence break down further more, heading possibly for the support zone at $6.