Shows a clear potential for a cup & handle If this plays out, we could continue to see some continued downward consolidation with an ultimate break upwards towards the grey line ($14K+ price area) I continue to believe for a market such as this that is so immature and small in size, it is important to zoom out and not pay attention to all of the short-term...
The Bitcoin Dominance Rising Wedge has begun to break. Ethereum and XRP are beginning to be the bigger breakouts. Given they hold larger marketshare %s versus recent breakout cryptos like ZEC and DASH, they will take more dominance away from Bitcoin . Remember, Bitcoin can continue to increase or trade sideways in price, and its dominance can still fall. All...
This weekly chart not only depicts the potential fractal playing out (scroll left), but it also shows: 1) We are close to breaking downward channel/falling wedge 2) We must break and close above $0.36 price to feel fully confident trend is changing direction to bullish (big thick red line) 3) RSI has broken the downward trend and broken above downward trend...
Short Answer: I believe not much lower In assessing past performance, it's my belief that we'll maintain price levels at/above the orange trend line (21 week moving average). Given the volatility that currently exists within Bitcoin, I'll give myself a 5% margin: Meaning price action will maintain levels that do not exceed a level of 5% below our 21 week...
Seemingly everyone & their mother has been talking about an XRP fractal playing out. The more I have seen of it, the less confidence I have it will play out. Regardless, 2018 & 2019 price action and RSI movement has been similar to that of 2015 & 2016. No 2 fractals need to mirror one another week by week, however the entire point is that a prior moment in...
Expecting a drop to at least 50% dominance in the short/mid term (.618 fib retracement) The real question is, how low may we ultimately go once we have a parabolic altseason. It's my opinion we will temporarily reach a new low in btc.d at that time. For now, btc.d is dropping, btc price is increasing, and alts are going crazy. Get yo popcorn ready!
The weekly chart I published several weeks back has had a definitive break. What I am looking for next: 1) MACD Cross 2) $10.35 broken 3) Volume increase
Back in January 2015, Bitcoin broke below the 150-Day Weekly MA. Upon breaking back above this trendline in late 2015, we retested a few times in 2016, BUT never broke below it. My opinion is that we simply became over-extended earlier this year and needed to come back to a more reasonable median price level. It makes sense that we retested the $6K range given...
This is a 3-month chart on Bitcoin Currently looks like we're in consolidation Zooming out like this helps to bring perspective to all of the short-term noise The Golden dotted vertical lines represent halving dates.
I was all over the 2018 Descending Triangle in Bitcoin, but Bitcoin's 2019 price action has left me head-scratching quite often. Yes, yes, I have had a bull flag/pennant drawn for weeks. However, while this pattern may be invalidated at some point, it has not yet. I see a alot of charts out there projecting many different scenarios, but none that show this...
DJI has been showing negative divergences on both the MACD and RSI on the weekly chart. I have been fully expecting an inevitable crash for several reasons beyond the technical for awhile now. However, sticking to the technicals clearly shows that we have lost momentum and at best we'll get a few more artificially manipulated pumps slightly higher. But time is...
My bet is on not breaking below $7.7K, next battle will be with ~$17.2K, once broken, we'll burst through $20K with some force. Keep in mind: for those in alts, this will handsomely reward those patient holders in alts that have seen their values fall to historic levels when compared to btc. When lookin at satoshi value, it's a very very very good thing for...
These are 2 main items I am focused on: During the entire prior bull run: (1) We held support on the 100-Day SMA (+) - We are currently flirting with breaking below, but holding right at the green moving average (2) We help above an RSI (14) of ~54 (-) -We have been below this level for 2 weeks now and raises a red flag to me. I would very much like us to...
12 hour shows this potential pattern is still in play
Still very much in play as a possibility
We are still in a potential pennant I would like to see the weekly, however, close >= $8.9K with the RSI >=53
Daily bull flag pennant still holding. Dotted line is a wildcard for me and totally possible; if that occurred, we would still be in a bull flag. That is because bull pennants/flags can have either the solid/dotted line base. And as always, this is my educated guess pertaining to the pattern in the charts. Many are calling for a descending triangle. While...
Here is a larger time frame painting the same pennant, but w/larger pole. This illustrates the value in zooming out to evaluate large timeframe charts. The more I stare at this, the more obvious and pronounced the bull flag is. All someone like myself can do is use the data that is given to me to make educated and informed decisions on where we may possibly go...