olleyy

olleyy

This is what I am currently seeing. A break of the triangle downwards, I have targets around 4500-5000. A break upwards and moves above 7.5k-8k are likely. The declining volume also matches this consolidation range, to confirm a breakout use a spike in volume out of the trendline as an indication. The orange trendline is one that has been played off of quite...

olleyy

I just wanted to share a possibility that BTC may still be in a parallel channel. This would mean that where the price is now may be close to a local top for now. But this may also mean that a break from the channel would have targets around 7500 and 8000. These lining up closely with a .618 fib. But do I think that Bitcoin can reverse from here back into a...

olleyy Updated 

Bitcoin is ranging between roughly 5500 and 4800-5000. I see this as a potential 'cool-off period' after such a massive move. As you can see there is a trendline and I am using it to confirm a move down... A break of this trendline will likely send BTC down first to 4800, then 4450, then around 3660. But this would really be a guessing game with BTC, just play...

olleyy Updated 

Here are my thoughts on Bitcoin's current price action: - RSI bullish divergence has been created on the 4H time frame. This is significant because BTC usually rallies up towards the 21EMA (5350). But there is still strong resistance right above around $5150-5200 as the trendline (symmetrical triangle) that we broke down from yesterday is still resistance. - A...

olleyy Updated 

This may be a possible play in itself, as a measured move would have a target of around $4500. Currently, the support is ranged from 4850-4975, but this is not extremely significant support and may mean that BTC breaks down from it towards $4500... Whether the triangle is bullish or bearish is not relevant to me, as I only see it as some sort of symmetrical...

olleyy

Looking weak to the downside right now. This looks to me like BTC is currently breaking a trend line coming from the lows around 3800. (Looks like a bearish rising wedge of some sort). I am targeting a move towards $4950, and potentially $4700. Third target being around $4680. If the next hourly candle closes below $5375 then this will strengthen the bearish...

olleyy

BTC looks to be ranging between 10120 and 10450 in a horizontal box. This may be acting as a 'cool-off' period for BTC's larger time frame oscillators to reset. How to trade this: I wouldn't be trading in this range, as you can see it is extremely risky and there are large upside and downside moves that will stop-out over-leveraged positions both ways....

olleyy Updated 

Bitcoin in this current weekly is looking bullish. Firstly, last week closed above key areas of resistance ($9600) and it currently is breaking the 0.5 fib level. This close has led BTC to now, where it has backtested previous resistance at 9600 and so far has bounced off of it. This is bullish behaviour and likely means higher price targets are going to be met...

olleyy

Hi everyone, I just wanted to quickly share my thoughts on TSLA. So after an almost 30% correction, TSLA has been ranging between 782.8 and a rough diagonal, upward sloping. I have plotted the horizontal at 782.8 because I feel like it gets the majority of the resistance. TSLA has broken out of the diagonal trendline and is likely heading further down. -...

olleyy Updated 

In the next few hours the daily, 2D and 3D will all close. The key area is marked between 0.27846 & 0.28744. (This level is also marked out as the .382 Fib zone, so this also a significant area to break) If these time frames close above this area then I will be targeting a move firstly to 0.322430, but then 0.3644 (depending also on BTC's movements, but right...

olleyy Updated 

This month we have seen BTC aggressively move upwards with obvious consolidation ranges before more upside, but does this mean it will happen now again? On a shorter time frame, the 4H, BTC looks to be forming another bullish consolidation before more possible upside. - But the lines marked at 8900 and 9150 are strong resistance, and could potentially be staunch...

olleyy Updated 

What's going on traders, hope you are having a nice day. I just wanted to check in with this very recent price action that BTC is showing us. After making its way up and over the 200SMA, it quickly used it as support and so far is looking strong to the upside (for now). - A golden cross has just been confirmed for the daily, this is a medium-longer term...

olleyy

Bitcoin is currently in a downward parallel channel and has just been rejected by not only the top resistance line, but the 4H 21EMA and also the 12H 21EMA as well. - The 4H stochs are looking weak and are curling downward. Similarly, the MACD is bearish and is pointing down with increasing negative momentum. - The 12H created a bearish hammer candle and is...

olleyy

Today I want to share a very simple way of evaluating BTC's price action. Firstly I would like to outline a key level in which the weekly needs to close above for me to become more bullish in the midterm trend. - A weekly close anywhere above $8600 will reinforce strong bullish momentum, as this will not only be closing above the previous weekly candle but...

olleyy

On a shorter time frame, BTC looks to be creating another bullish pattern after the recent impulse up. This can end two ways: - Firstly, it may initiate the start of further upside for BTC that will send it above the Daily 200MA... - Secondly, it may break down from this region, and turn into a healthy pull-back as this price action since the 3rd Jan has been...

olleyy Updated 

The monthly chart is quite similar to back in 2016, where the bullish cross of the 10 SMA (red) and the 21 EMA (yellow) pushed the price a lot higher. BTC in 2016 had a long consolidation after an impulse up, and the price got pulled into the cross. Similarly to now, where after a huge spike in the price BTC has consolidated for a while (4 months so far) and is...

olleyy Updated 

BTC has closed a 2h bearish engulfing candle and is looking extremely weak to the downside... I am expecting a move to the $8900-9000 region and to bounce off this area as it is also confluent with the daily 200MA, and the weekly 21EMA. There could also be a quick move up to 9150 before a move downwards. This is still ranging downwards in a downsloping parallel...

olleyy Updated 

Short Term Analysis - This is starting to form a potential bull flag / bullish consolidation with lower highs and higher lows with an apex on 1st November. This would mean that the CME gap wouldn't be completely filled if this breaks to the upside. - But be aware, that this 'flag' might also just be an underdeveloped parallel channel which is just being...