jackdavidpiney

jackdavidpiney Updated 

Regardless of what happens next, I'll short with one hand and Dollar Cost Average all the way down with the other. Enjoy the ride

jackdavidpiney Updated 

Looking at the current Fibonacci levels and Exponential Moving Averages. Firstly, the current red 0.618 Fib. $7500 range. Secondly, the 300 EMA, the Fib confluence of red 0.5 and the blue 0.786. $7600 - $7800. What supports the possibility of hitting those levels, RSI, MACD and $7300 price/Fib support. Reaching the 300 EMA and confirming $7500 - $7800 support...

jackdavidpiney Updated 

What to watch on the 1H

jackdavidpiney Updated 

The 3.618 measured from $0 to the 2013 ATH & The 0.786 measured from $0 to the 2017 ATH $5 difference.... Interesting, right? -- The big question on all our minds, where is the bottom? Unfortunately there is no correct answer. The market makers will force sell offs until they can't force any more. Then, and only then, will price reverse. We speculators will...

jackdavidpiney

Need I say it? -Opened under the 300 EMA -Waiting to see the daily close in 24hrs, if we open and close under the daily EMA probability says we see some lower side targets. Trade safe, don't try to beat your own rules.

jackdavidpiney Updated 

It's been over 3 years since we broke the 55 EMA, is it time for a repeat? I don't think so, could I be wrong, OF COURSE. But I see no black swan event on the horizon. In fact, if Bitcoin and btc didn't die then, what makes you think it will die now?.... I'll wait. Please don't let scaremongerers toy with your emotions for their pleasure! ___ Remember, you...

jackdavidpiney

As expected: Opening and closing a daily candlestick below the 200 EMA indicated a hit the 300 EMA. --- With the 55 and 150 emas beginning to cross, we should expect to see the lower side targets labelled here, based on Price Action (Previous support and resistance) (Note that we are at a strong level of support here. I am simply waiting for more...

jackdavidpiney Updated 

We may find support beforehand, but this is my play. R/R not ideal.

jackdavidpiney

Will the last week of March bring stability, we must get up to, test and ultimately break through the 20 ema and 20 ma.

jackdavidpiney Updated 

Please do not get me wrong, I am a BTC perma-bull, but in a correction, you must don your bear suit. Gox saw an 86% sell-off, do we see the same? And guess what, we survived Gox, we'll survive this correction too. Learn how to build a position, either way.

jackdavidpiney Updated 

So here are my thoughts based on discussions with good friends (Who are hard to find in this industry.) If the full Wyckoff accumulation is to play out, this is where I think we are in the cycle, my idea has a different timeline to my friends and I don't see very many people looking at this scenario, yes we see many people talking of 4k, but do they know why and...

jackdavidpiney

The question is: If everyone is watching the same level, what do the Market Makers have in mind? (Flash triple bottom at $6000 or premature breakout? Both invalidating the 0.786 & a stop loss run either way.) I expect with the break of the red 300 ema we will see a touch of the black 400 ema. (The 7th bearish touch of the 400 in btc in history) What do the...

jackdavidpiney

Enjoy

jackdavidpiney

The green 50 ema The orange 200 ema The red 300 ema The black 400 ema We are still essentially testing the 300 ema and the top trend line of this Bullish 12 day falling wedge in a downtrend. Also a bullish harmonic bat. The question remains, where is the bottom? The blue diagonal line sitting almost flush with the 400 ema is a long term bottom trend (starting...

jackdavidpiney

The failure of the 200ema saw price reach the 300ema. Price is currently held up by a small yet notable buy positive volume shelf. (See the values of the VPVR on the right) If we fail the 300, we go down to the 400 where there is a new buy positive shelf that is much larger and more supportive as noted by the range size. Currently, the volume indicates that...

jackdavidpiney

Not a fan of harmonics but regardless - Hedged and hedging for a possible reversal, stranger things have happened, right?

jackdavidpiney Updated 

Simplicity is the key to an effective trading career. Read the tape, find the gaps. Should we fail the trend, we test The catalyst for exponential growth (CEG). Should we fail the CEG we will run the stops. Should this induce panic selling we will test the October 2017 accumulation. If we fail the accumulation, then we enter the "bear market." Relativity,...

jackdavidpiney Updated 

Please, trade carefully - I will be increasing my long position should we bounce on the 300, I will do the same if we fail the 300 and touch the 400 again. If you believe in the longevity of an investment you don't overtrade it, you buy when it is on sale.