brandonreymejia

brandonreymejia

It's always important to look the US Dollar when determining the outlook for Bitcoin. Remember, when the US Dollar rises, Bitcoin does the opposite, which is why the price of BTC is experience in the red. However, looking at the US Dollar Chart, the DXY is oversold on the Relative Strength Index. This is a bullish momentum for Bitcoin, as the US Dollar can...

brandonreymejia

The candle of Ethereum bottomed out on the lower ballinger band, making ways for the price to increase. The Relative Strength Index looks good as ETH RSI has bottomed out as well, which is a bullish momentum. The only confirmation we need is the MACD line to cross above the signal line. Looking at the volume of Ethereum, selling pressure is decreasing. Whales...

brandonreymejia Updated 

Confirmation that the MACD crossed above the signal line. This is a bullish momentum. The RSI level may be heading to the overbought region, but on the 30 minute timeframe, the RSI level is not. This is a trading idea for the remainder of the day (Central Time). In terms of the Bollinger Band, the candle hit the lower bollinger band, which is indicated in a...

brandonreymejia

LGCY Network has a beautiful bullish momentum on both the MACD and the Stochastic Relative Strength Index. On the MACD level, we can see the the MACD is above the signal line, which is a bullish momentum. On the other hand, the RSI bottomed out yesterday, March 7th, 2024. So this is also a bullish momentum. In terms of Fibonacci levels on the daily...

brandonreymejia

This is a long-term chart of the United States dollar against Bitcoin. Every time the United States Dollar goes down, the price of Bitcoin does the inverse (UP). Here is a rundown of the chart: In March 2020, we saw the price of the United States Dollar (DXY) start to decrease while the price of Bitcoin started to increase. In July 2021, the United States...

brandonreymejia

On the 15 minute and 30 minute, the MACD has crossed below the signal line. The 5, 15, and 30 minute RSI is already at the oversold region. Looking a the MACD on the 45 minute, volume is decreasing, hence causing the MACD to go below the signal line. Once confirmation, the price of Ethereum will go down. I also have looked the TOTAL2 chart and there has...

brandonreymejia Updated 

Hello everyone, this is how I see Bitcoin in the long run. Looking at the weekly timeframe, I am still bearish on Bitcoin right now as it is still trading below the 200-EMA since June 16th, 2022. Also, we're currently in a technical recession after the FED of Atlanta has estimated a negative -2.1% for Quarter 2 of 2022. We already had a negative -1.6% decline...

brandonreymejia Updated 

Looking from the monthly timeframe since December of 2020 to today, I see a Cup and Handle formation. In April of 2021, Bitcoin made a new all-time high of $64,000, then a sell-off occurred going into the summer. At the start of Quarter 4 of 2021, Bitcoin had an uptrend again, this time testing the resistance level of the previous all time high from Spring of...

brandonreymejia

Hello everyone, so looking at the weekly timeframe, the price of Bitcoin is still below the 200-moving day average. The stochastic RSI is still oversold, meaning that I am still bearish on Bitcoin. On the other hand, today is July 1st, a brand new month for Bitcoin. Also, it's now Quarter 3 for the economy. Fears of recession and inflation are still looming, as we...

brandonreymejia Updated 

Looking at the weekly timeframe of Bitcoin, it looks pretty bad! Bitcoin is officially below the 200-day moving average, and the last time we saw that was during the Stock Market/Crypto Covid crash in March of 2020. Also, Bitcoin fell below the $25,755-$27,300 level, so the next support level would be $22,000-$23,000. If somehow and someway Bitcoin falls below...