But You Can Keep ‘Em For The Birds And Bees
Now give me money (that's what I want)
That's what I want (that's what I want)
That's what I want (that's what I want) yeah
That's what I want!!
Beatles-1963
OK Kids, another analysis for you. BTC has been on a tear since I predicted this in previous charts.
But, Surprise, Surprise, we are going into a triple resistance around 9600. The upper Bollinger Bands, The 200 Day MA and Fibonacci are coming together to form a tough place for Bitcoin prices to get through. In addition, the Stochastic is overbought and we have a 5 on the TD Countdown.
Usually, we will see the TD get to 8 or 9 before a reversal. This being the Daily Chart, a 9 brings us to Saturday. It should be noted however, that we could go past a 9 if we have some very strong buying come in and stabilize above 9600. See below. We could either simply over extend the 9 by a few more candles and a few more days and THEN reverse down, OR if we battle through resistance like butter, a new Green 1 Candle will take us higher.
In addition, most of you know I have developed some strategies with what I call The Gann Matrix Alignment (TM). (Not shown) Gann Matrix calculates absolutely NO planetary alignments or atrological events happening on Saturday the 27th, which lines up with the TD 9 on the same day. If there are no alignments, then the Matrix predicts either a downward day or sideways move. The last time this happened was last Saturday, and we basically had a no or little change day, depending on which exchange you looked at for prices.
So we can “probably” expect that this BTC run up can hit a slowdown period beginning about Saturday. I don’t expect the drop to be large, maybe down to about 8400-8500 AT THE MOST if it occurs. HOWEVER, this does not mean a return to the bear market as we made the low in February. It’s just a bump in the road until we go even higher.
I would say that if we can close above the 9600 area and stabilize with another green day candle afterwards, then this prediction of a small reversal is nullified and we continue upwards.
We’ll keep an eye on it. Short term traders can look to take a short position for a few days. Just be careful because things can turn upwards quickly.
Long term investors should HODL. I am HODLing.
In the meantime, just give me money.
youtu.be/_mX7Y0h4wfc
Twitter @CaptainScio
(Not Investment Advice)
Now give me money (that's what I want)
That's what I want (that's what I want)
That's what I want (that's what I want) yeah
That's what I want!!
Beatles-1963
OK Kids, another analysis for you. BTC has been on a tear since I predicted this in previous charts.
But, Surprise, Surprise, we are going into a triple resistance around 9600. The upper Bollinger Bands, The 200 Day MA and Fibonacci are coming together to form a tough place for Bitcoin prices to get through. In addition, the Stochastic is overbought and we have a 5 on the TD Countdown.
Usually, we will see the TD get to 8 or 9 before a reversal. This being the Daily Chart, a 9 brings us to Saturday. It should be noted however, that we could go past a 9 if we have some very strong buying come in and stabilize above 9600. See below. We could either simply over extend the 9 by a few more candles and a few more days and THEN reverse down, OR if we battle through resistance like butter, a new Green 1 Candle will take us higher.
In addition, most of you know I have developed some strategies with what I call The Gann Matrix Alignment (TM). (Not shown) Gann Matrix calculates absolutely NO planetary alignments or atrological events happening on Saturday the 27th, which lines up with the TD 9 on the same day. If there are no alignments, then the Matrix predicts either a downward day or sideways move. The last time this happened was last Saturday, and we basically had a no or little change day, depending on which exchange you looked at for prices.
So we can “probably” expect that this BTC run up can hit a slowdown period beginning about Saturday. I don’t expect the drop to be large, maybe down to about 8400-8500 AT THE MOST if it occurs. HOWEVER, this does not mean a return to the bear market as we made the low in February. It’s just a bump in the road until we go even higher.
I would say that if we can close above the 9600 area and stabilize with another green day candle afterwards, then this prediction of a small reversal is nullified and we continue upwards.
We’ll keep an eye on it. Short term traders can look to take a short position for a few days. Just be careful because things can turn upwards quickly.
Long term investors should HODL. I am HODLing.
In the meantime, just give me money.
youtu.be/_mX7Y0h4wfc
Twitter @CaptainScio
(Not Investment Advice)
Comment:
Looks like I was right on the resistance coming in. Let’s see where we are at by Saturday the 28th