A good time to update the Weekly Bitcoin chart as we enter into the next impulsive wave; markets have been positioning in choppy waters since I called the huge crash last year: Bitcoin, perhaps with an eye on the economic cycle, delivered very much at the bullish end of expectations as Libra started to cough. A breakout here will leave markets in no doubt...
The last few weeks have not much fun for Crypto bulls, only EOS and NMR emerged relatively unscathed in my space. Now is a good time to update the BTC chart as we finally begin the next impulsive chapter in the sequence. I am tracking for a 50% move with Libra flop providing the main driver over the coming weeks. Can only continue to recommend trading the...
Diamond formation in a Descending Channel
Since this massive spike it seems the bullish sentiment is expanding quickly. Which is excellent. Bullish sentiment is something that we need in order to continue the run up. However, when taking a closer look at the recent leg on larger time frames. It appears to be nothing other than a simple retest of the major resistance line down, and the bottom of the...
2019-11-02 BTCUSDT Decending Triangle pattern Break out BINANCE:BTCUSDT BITMEX:XBTUSD BITFINEX:BTCUSD 1. Decending Triangle pattern Break out -> Route 1 2. Route 2
2019-10-29 BTCUSDT(Binace) Triangle pattern Route BINANCE:BTCUSDT BITFINEX:BTCUSD BITMEX:XBTUSD
Attention now turns to the ECB and FED where anything other than more cuts and QE Lite would be a huge shock. More interesting will be the response to the Crypto punchbowl, and it seems likely the flooding of USD supply will confirm the lows in BTC and perhaps emphasise the impact Macroeconomics has on Cryptocurrency. As such I tend to think the coming sessions...
The news grabber remains Brexit, but the Crypto reaction thus far has been relatively benign. Whilst BTC initially found support at the $8,000 low, the knock-on Crypto impact has been much more limited. The main other impacted cryptos in these flows will be ETH, EOS XRP and LTC....expecting all will post gains over the coming sessions as the risk haven flows start...
On the Fundamentals the Libra flop as widely anticipated acting as a push up factor for BTC, ETH, EOS and to a lesser extent XRP. Aggressively loading all main cryptos around current levels ahead of Fed refilling the QE punch bowl later this month....it's happy hour. For the long term flows the waves are crystal clear mapping out the elegant grind higher: ...
Here we are tracking the BTC weekend flows, before we start lets dig deeper on the Long term chart: We know we are tracking the ending of this pullback miniture wave inside an impulsive leg to the topside. For the current flows things are very similar.. the starting of another impulsive sequence, no surprises this time for the Bakkt floor : All clean...
The floor has been put in as widely expected, you can see there is not intention of letting Bitcoin depreciate any further. Improving Bitcoin fundamentals via Libra delay is helping us shift value higher. You see back here this recommendation: Price drivers are supporting flows to Bitcoin, you have to forward walk and say going forward the flow of Crypto...
Looks like the ABC flag for BTCJPY is done and is forming some sort of Wave 1. This coincides with BTCUSD which is done Wave E if you look at my previous charts. I'm predicting a 1.9million Yen for the next run.
Here we are tracking Bitcoin as a barometer of measuring animal spirits...once again leading with S&P in heavy red today, BTC is looking once more ready to diverge from capital flows in a league of its own. For those tracking the infamous "Bakkt floor" as widely expected price finding support after the cascade of stops: Sentiment is once again changing in...
Here tracking the current floor in BTC as a good opportunity to begin working the bid. The early bulls before Bakkt have been cleared in a healthy range reset, shorts will begin covering and long term holders are once again ready to add bullish exposure. After clearing the targets for those following the previous flow coverage we are set to begin building...
Here we are tracking a bounce from the Bakkt floor after a massacre yesterday. Large hands flushing out all the soft retail traders who got caught offside in the middle of wide chop. The mid-long term charts are crystal clear, as anticipated we found a strong bid from the beginning of the year; breaking 6,200 unlocked the all time highs. For the flows...
Use the low of 20000; use the high of 82982; project out from there and these critical levels present themselves acknowledge the strength of these gann levels manage your own risk gl hf xoxo snoop