HyptoCrypto234

HyptoCrypto234

Looks like this pendant is finally being broken. A weekly close outside of the formation will have the bulls in a frenzy. Is this beginning of a real bull run?

HyptoCrypto234

The pendant that BTC has been stuck in for the past few years is looking to be violated. The supply has been cut, the demand continues to grow, and the sharp rebound from the COVID crash shows that bulls have taken the reigns. If the trend line formed by this recent rally stays intact and we close a few daily candles outside of the pendant, I will be net long for...

HyptoCrypto234

With the BTC halving but a few days away, most investors and traders are sitting on the edge of their seats in anticipation. This event couldn't have come at a more precarious time, given the current Covid riddled economy. So now the question begs, what should investors expect in the coming months? While past having events seamed to catalyze a period of...

HyptoCrypto234 Updated 

This latest bounce in price is validating the uptrend that we have been in for the past month or so. While resistance was hit around 7400, we are still on pace to set another high. The price has been declining over the past week and a trend line has emerged. If this resistance can be overcome, all signs point to another attack on the 7400 levels. Volume still...

HyptoCrypto234

The market is fighting this trend-line and as of yet, a winner has yet to emerge. If the price remains above 7000 for the next day or so, I would be confident that we will see a rally further north. While the price dropped to the 6500 zone early this morning, it's looking that the dip was just a quick stop hunt as the market responded with a quick uptick in...

HyptoCrypto234 Updated 

The 7400 area is acting as resistance just as expected. We had a quick dip and rebound of ~3.5% this morning and that could be signaling some supporting buying power at these prices. However, the trading range is starting to narrow withing this rising pendant and a breakout is coming. What must be noted is the declining volume. There could be some signs of bearish...

HyptoCrypto234

Regrettably, it looks like a down-trendline is starting to solidify. Although it is almost too steep to be defined as a trend, the price seems to be respecting the downtrend that started in February. Although rising pendents or wedges are often seen as bearish patterns, I'm hoping the price can move back within the pendent and subsequently break to the upside of...

HyptoCrypto234 Updated 

In my previous post, I made a slight error drawing a trendline a little too aggressively. As the chart shows now, a very distinguishable trendline has formed and the price is moving with a pendant. The 7000 resistance (coincides with the .5 fib for this retracement) has been tested a few times over the past week, and we are now at an inflection point where I...

HyptoCrypto234

While every market around the world was slaughtered by the Cvoid-19 panic, not every market has staged a recovery like BTC. While up ~70% from its abysmal lows around 3800, BTC has run into some resistance around the 6800-7000 zone. If this short term resistance is overcome a leg higher is to be expected. Watch for a break over 7000 supported by an uptick in...

HyptoCrypto234

Looks like the first part of my pervious plan has played out well. Now im expecting a jump back up to the top of the wedge. If we break out of the upper part of the falling wedge then I'll add some exposure to the position. For now keeping it small and looking to TP around 9700, something around +5%

HyptoCrypto234 Updated 

Bitcoin has had an exemplary year so far, gaining ~50% on a steady uptrend. While there have been a few good opportunities to enter long on the pull backs within the channel, we are now in a somewhat over-bought and extended region and opening a trade at this price would be risky. Given that we have moved above the major moving averages and that we have broken...

HyptoCrypto234

Looks like the price is moving pretty casually inside this channel. Taking out the 21 week moving average was a big step and the price is now fast approaching the 200 day moving average. In September of last year a break below this key average turned the sentiment bleak, and we have been stuck below it ever since. A clean break above the 200 daily would be a fresh...

HyptoCrypto234

On October 26th 2019 the price of BTC seemed to be breaking out of the falling wedge while reacting to new about the Chinese government endorsing blockchain tech . However, without any convincing candles closing outside of the formation, selling swiftly resumed. The price the slide down to the original trend line which it validated over the last months of 2019....

HyptoCrypto234

I feel that the new year of 2020 brings with it some expectations. In the past so many futuristic predictions used this year as a benchmark by witch we mark the genesis of the "future". I believe this will this will have an impactful effect on the subconscious & psychology of the masses as they flock towards a world filled with ideas that move us forward as a...

HyptoCrypto234 Updated 

Bitcoin is forming an inverse head and shoulder pattern on a short time frame. Such patterns are often unreliable on short time frames, however, it is worth noting. The upper end of this patter is knocking at the 7400 zone. This level acted as support on Oct. 25 when the marked had an explosive rally. If we can overcome this level then sentiment should shift more...

HyptoCrypto234

8000 support was shattered as news from China accelerated the selloff. Many had expected this 8000 level to act as support however we have dropped significantly below that. It looks like we are stuck in this falling channel, however we are coming to some areas of potential support. The trend line started back in February is now being tested while the Daily RSI is...

HyptoCrypto234 Updated 

Pretty straight forward set up here. The price has been consolidating within a falling wedge formation since the massive spike in volume on October 25th. This wedge is now moving within a very likely area of support. Falling wedges are well documented bullish formations and if we breakout of the formation it will confirm a breakout of the larger wedge we have been...

HyptoCrypto234

After an expected consolidation following the explosive rally on Oct. 25, we are now looking fo the next move. Three strong factors setting up for a bounce north. 1. We have retraced to the .618 Fib 2. We are testing the previous resistance to flip it support. 3. We seem to be in another falling wedge and a break out will confirm a bullish move. Keep an eye...