Friends, I know things have been slow, but I have not had too much to add as of late. We EXPECTED August weakness. At least those of us following.
That said, there is NOTHING that should shake you from the good things that have started and are still are in tact! That goes for
BTC
AND EQUITIES!!!
In fact, many crypto/equity holders lose money BECAUSE THEY SELL AT THE LOWS! Emotions can do that!
As we look at
BTC
Dominance, one thing that should stand out for anyone is that we have maintained a bullish channel for many weeks, & this has led to
BTC
trading stronger in relation to its
ALT
peers (yes, I know there are some exceptions).
BUT, looking at some recent HTF charts what I want you all to realize is that we could be on the verge of losing this channel that’s held
ALTS
at bay for a while. IF THE WHITE LINE ON MY CHART SNAPS, hello to a decent
ALT
move!
The key with ANY
ALT
move is this:
1)
BTC
Maintains long term supports
(It has)
2)
BTC
can still go up as long as
BTC.D
falls,
And that brings me to the MAIN point:
3) based on some TA using HTF oscillators and candle stick analysis, we could be on the cusp of a possible BREAKDOWN in dominance! This is BIG!
The key to this all, is
BTC
staying over $23.8K on a weekly closing basis. It’s my HUMBLE OPINION it will.
I will post a
BTC
chart early this week to share with you all why it’s NOT TIME TO ABANDON SHIP!
Stay the course!!
We got this!
PS: since I want you to learn things, before I return with a more detailed chart, study these things on
BTC
:
1) high time frame MA’s
2) Pattern recognition (hint: it has something to do with a head and shoulders pattern, just inverted)
3) Oscillators! Where is the MONTHLY RSI? Stochastic ? MACD?
When you do your homework, I’ll be here to assist you in all the answers of what I see happening and why all the doom and gloom is wrong footed!
Be back soon!
Have a lovely week!
JT
That said, there is NOTHING that should shake you from the good things that have started and are still are in tact! That goes for
BTC
AND EQUITIES!!! In fact, many crypto/equity holders lose money BECAUSE THEY SELL AT THE LOWS! Emotions can do that!
As we look at
BTC
Dominance, one thing that should stand out for anyone is that we have maintained a bullish channel for many weeks, & this has led to
BTC
trading stronger in relation to its
ALT
peers (yes, I know there are some exceptions). BUT, looking at some recent HTF charts what I want you all to realize is that we could be on the verge of losing this channel that’s held
ALTS
at bay for a while. IF THE WHITE LINE ON MY CHART SNAPS, hello to a decent
ALT
move! The key with ANY
ALT
move is this: 1)
BTC
Maintains long term supports (It has)
2)
BTC
can still go up as long as
BTC.D
falls, And that brings me to the MAIN point:
3) based on some TA using HTF oscillators and candle stick analysis, we could be on the cusp of a possible BREAKDOWN in dominance! This is BIG!
The key to this all, is
BTC
staying over $23.8K on a weekly closing basis. It’s my HUMBLE OPINION it will. I will post a
BTC
chart early this week to share with you all why it’s NOT TIME TO ABANDON SHIP! Stay the course!!
We got this!
PS: since I want you to learn things, before I return with a more detailed chart, study these things on
BTC
: 1) high time frame MA’s
2) Pattern recognition (hint: it has something to do with a head and shoulders pattern, just inverted)
3) Oscillators! Where is the MONTHLY RSI? Stochastic ? MACD?
When you do your homework, I’ll be here to assist you in all the answers of what I see happening and why all the doom and gloom is wrong footed!
Be back soon!
Have a lovely week!
JT
JT