deathdisco

deathdisco

Looking for a breakup or breakdown.

deathdisco

Looks like BTC was rejected. There's still a chance this is just a cool off, and BTC likes to defy logic, but if bulls aren't stepping in soon we clearly aren't ready to rise yet.

deathdisco

If you're buying bitcoin today, you probably haven't been trading long, or you're just not paying attention. So far BTC has punched through a lot of previous resistances with force, and it was strong, but it's starting to look very tired. I am not shorting or longing here, I have long hodls though, but I am not interested in messing too much with those. BTC is...

deathdisco

Every indicator at the moment is screaming overbought and needs a rest, this trend cannot immediately continue, and we are sitting under a resistance. In the short term, price is extremely unlikely we will shoot up. The two possibilities seem to be: 1. Linger around this area for a while to regain momentum. Watch for RSI hitting under 50 and the MACD cooling off....

deathdisco

We are completely oversold here. If we look at last year, we could be repeating a familiar pattern.

deathdisco

Not being a permabull here, but pushing below two supports like that in a strong sell move followed by a powerful buyback of 12% is exceptionally bullish. It's called the bullish hammer pattern but don't just buy into mystical bullshit, think about the mechanics behind the buyer and seller and why that pattern might form. Also, never use a candle like this on its...

deathdisco

Just hit the long standing trendline. If this breaks we are well and truly back in bear mode, but there is a decent chance we hold around here.

deathdisco

The falling wedge I previously drew just confirmed once again. The support broke so the breakout failed, and this wedge may break downward from here. If so, we are going to see further downward action as there's really no support beneath us until the 5-6k mark. If this support holds we may see an upward move soon. I'd watch to see how long this bottom support is...

deathdisco

I'm neither bullish nor bearish for BTC at the moment - but if I HAD to choose, I'd lean bullish. To say that there are no bullish scenarios here is just wrong - be careful what the masses tell you, they are the dumb money. Most falling 'pizza shapes' or falling wedges people chart are not actually falling wedges. They don't have confirmed support/resistances...

deathdisco

Seems fairly clear cut. Monero broke out of a downtrend to form a downward channel. Could bounce here and meet the above chop. The risk of entry here is low as there's a clear selloff range.

deathdisco Updated 

I'm following the same simple trend I've been following for weeks now. Simple is ALWAYS better. This could breakout either direction, but when it does, that's how I'll play the coming weeks. I wouldn't be sad to see BTC break downward actually - it could give rise to an altrun and that's what I would be looking for. Already there are signs among the stronger alts...

deathdisco Updated 

I bought this during the squeeze below, sold half on this spike, but it does look like it might bounce off the resistance below and keep going. Will be watching for a newly established support.

deathdisco

CryptoTwitter and youtube went crazy over suggesting BTC was going to break upwards - I was one of the few saying it looked more like a resistance channel. Looks like it went that way. Just shows you not to always follow the herd. The white line is one I drew in the previous post, unmoved. There's a small chance BTC will bounce here as we are hitting a heavy...

deathdisco

Hitting clear resistance here. We saw a bounce and the fundamentals today are strong. Key points include: - Trump introducing a further 10% tariff against china, weakening perceptions of US-China negotiations and the stability and reliability of the US economy under Trump. - FED introducing 0.25% interest cuts, first in 11 years. This effectively means more money...