On April 26th I drew the dotted line down to $9,000 and explained that I need that area to prove itself as support before I would consider entering another long. Yesterday we saw the price dip down to $8,900 before quickly reversing.
At that point I saw two options:
Range for 3-5 days from $8,900 - $9,300
Create a higher high, and go for a $9,650 retest
We are...
I have been waiting on the sidelines over the last 48 hours waiting for further confirmation before re entering. Last night I expected a small pullback from $9,300 - $9,000. I wanted to see the price hold above that level of support before looking to build a long position.
Instead it gained support at $9,150 and formed a bull flag, which is currently uncompleted....
I just returned from my trip and am feeling refreshed after seeing a concert and playing two rounds of golf! The golf was subpar but the music was awesome! I am also very happy to see Bitcoin bouncing after a strong pullback. Over the last couple days I was watching $9,000 - $9,200 as a potential area of support and expected the price to reverse from there.
I...
Yesterday I updated my post to say that everything was still looking good for building a long from $9,000 - $9,200. If you followed that advice then your bags are likely already packed.
Today I am really wanting to see us support above $9,000. That price provided significant resistance on the rebound and if we fall below for a significant amount of time it...
Yesterday I laid out a bullish and a bearish scenario after the price broke through the trend line. As it turns out that was only a bear trap and the price has quickly reversed to the upside! Way to go bulls!
I drew the $9,475 horizontal line on the 22nd and expected that to be the next significant resistance after we broke through $9,000. That is based on the...
As we consolidated over the past 48 hours I remained confident that we would trend toward $10,000. Today we have seen the price fall below the trend line and now I am less certain about an upcoming pump.
The range has tightened to the point that we are going to see a significant move one way or the other very soon.
If we breakdown then I expect us to retest...
Yesterday I expected the price to meander back towards the maroon trend line and mentioned that it could provide a good entry for a long. The last candle came within a hair of that trend line before the bulls quickly pushed the price back over $8,900.
Support has continued to move up after supporting the large sell volume from the 20th. That is a very good sign...
Yesterday I was very happy to see us break the the 0.382 FIB resistance as well as the log trend line! In daily update I also mentioned that $8,900 - $9,000 would be the next area of resistance and that's where we pulled back today.
From here I expect it to be smooth sailing for the next week. This is when it is very easy to get complacent and/or greedy. Stay...
Over the past 24 hours I have been watching closely for Bitcoin to break through the 0.382 FIB retracement level. I am very happy to see the slow grind upward continue to break through major resistance.
It leaves us well positioned without being over extended, which is very important for a recovery.
Support has continued to move up and that is crucial in order...
I am happy to see the price nicely following the arrow I drew on the 17th. The slow grind upwards is exactly what we want to see. That allows the pressure to build while resistance is being eaten away.
I expect that to give us the momentum needed to break through $8,400 and the 0.382 FIB level. That will likely be a key level for a lot of traders who are still...
About 8 hours ago we got the golden cross and that provided the final confirmation for entry. I stayed up late to make sure that I didn’t miss it. There was good volume behind the pump and I expected us to breakthrough $8,200 while I was sleeping.
Unfortunately the price has pulled back for another $8,000 retest. The bulls mounted a good defense right before the...
Fundas: Despite an improved unemployment rate Average earnings fell over the period. With the CPI tmrw I am slightly ahead of the game but anticipate this action is showing how timid traders are at this level for any more short term upside.
Techs: Price firmly rejected an upside breakout on the 4hr chart at 1.4375, showing some lvl of supply in conjunction with...
Still very much in bull mode. I personally took a little profit as I have been burned before by not managing my risk. I just want to emphasize that we will be do for a correction when the wave completes. When and how much is anyone's guess.
I am not a pro at Elliot Waves. Just to much guess work and really easy to get wrong without experience. So, I am not even...
Over the past 24 hours I have been watching for the golden cross to provide final confirmation for a long entry. Support has held strong above $7,900 and the resistance is slowly being eaten away.
If we can break through then the next area of resistance will be $8,950. After that the next major areas of resistance are $9,450 and $12,450. Any of those targets...
Over the past few days we have been on red alert, awaiting final confirmation that the bear market is over.
Step 1: Break through bear trend (red line)
Step 2: Turn that trend line into support
Step 3: Golden Cross on 50/200 day SMA
We crossed off the first two steps over the past 3 days, and now the moving averages are threatening to cross in the next 12-24...
Over the past few days we have been on red alert, awaiting final confirmation that this bear market is over.
Step 1: Break through bear trend (red line)
Step 2: Turn that trend line into support
Step 3: Golden Cross on 50/200 day SMA
In yesterday’s post I pointed out the dragonfly doji that was forming on top of the trend line and was watching for the price to...
Well, I am seeing more and more evidence that LTC is trying to become bullish. I am not going to lie I played the dip terrible. I made a mistake and read the TA of another trader whom everyone probably knows and ended up doing a couple bad sales. What did I learn? Work my own plan, and just look at other's ideas but work your own.
That being said I am literally...
Yesterday I made a neutral post and advised everyone to wait on the sidelines for further confirmation.
Before entering a long I need to see the price find support above the bear trend (red line). As I am typing this a dragonfly doji is forming on top of the trend line.
If that closes then it could provide an opportunity to enter a long. The stop loss would be...
