JamesRennie

JamesRennie

BTC.D just broke up from a double bottom on the daily chart. On the weekly chart it needs to pass 42.21% Now above 20 weekly MA. RSI has not been overbought for a long time. Looking for that to happen again. MACD Is looking like it will move up now. s3.tradingview.com s3.tradingview.com s3.tradingview.com s3.tradingview.com

JamesRennie

I have labeled support and resistance areas on this monthly chart. BTC.D has been sideways for over a year now between the same to %. I will break out one way or the other. This post is less about direction and more about comparing the difference in return on a move either way.

JamesRennie

For months I have followed the dollar index and USDCAD. Though I did not directly trade dollar index it was a signal for both USDCAD and all other markets. Some of my views to consider Most global debt is in USD Interest rate increases can be seen as sell pressure to where most debt is concentrated Forced selling It does not matter how much you...

JamesRennie

ETH/BTC is sitting on support. A break below here will be a good signal of trend reversal. It will be important to see what happens next and Oscillators indicate it's likely support is broken.

JamesRennie

For around 1 year I followed the RSI and MACD divergence with expectation of a reversal. Last week was the first weekly close at a higher high. As you can see on the daily chart I labeled we have a bottom, a high, a low and a higher high. Betting against this now would mean betting against the trend with no indication of a reversal. To be clear indicators I...

JamesRennie

In 2021 I wrote about bottom for BTC.D since then effectively the same bottom has held. Can this this be the turn around? For months there has been a push away from Bitcoin in sentiment. It's old, slow, etc.. whatever reasons that get stated. Reality is it's still seeing adoption. So all it takes is a price crash in alts and narrative changes to how they were...

JamesRennie

I have marked the current support and resistance ranges on the BTC chart. The price action on BItcoin lately has been very encouraging for bulls. With a slow but steady move up in price. This quiet creeping of price seems to be common during times of large or highly-educated buyers. This has also shown in sentiment which has remained around neutral. While...

JamesRennie

This analysis assumes the case for long ETH has already been made. This company holds ETH a lot of it. First find out how much Ethereum they hold Review their debt and expenses FInd the total number of shares to divide up the total Ethereum holdings With having ETH per share value calculate the adjusted price of those ETH vs market ETH With the...

JamesRennie

The chart shows a support and resistance range created by a combination of Fib retracement and Fib extension. The higher low if broken won't be significant. Need to see a higher high for the start of an uptrend.

JamesRennie

For months BTC.D has been range-bound between 47.68% and 40.18%. I keep hearing Alt season is coming. When looking at RSI and MACD I don't see strong downward momentum. RSI does not even have much room before it would be oversold. It also has a clear bullish divergence on the weekly chart. Altcoins are further on the risk curve than Bitcoin.

JamesRennie Updated 

Watching RSI peaking into over-bought. Might be still some upwards space but the sentiment is also shifting to expectation this goes up. Just look up articles on the rising dollar. I have marked some key levels on the chart. Those are what I am watching.

JamesRennie

I am long USD or short CAD whatever way you want to look at it. Have been since 1.22 USDCAD. That dollar index has recently crossed above the 200 weekly SMA. Though short-term RSI might cool off a bit with a pullback to 200 weekly SMA. My previous mention of Double bottom on the USDCAD chart still seems good. The real catalyst for the dollar index seems to be...

JamesRennie Updated 

There is not really enough data to have much confidence this will hold up. I just found it interesting and wanted to share it. The idea is that since at least since start of October BTC price movement seems to be a leading indicator for SPX.

JamesRennie Updated 

If Ethereum breaks above this level we are stuck at. RSI indicating a pullback. The sentiment is on Ethereum is still high. Still in a longer-term uptrend.

JamesRennie Updated 

Since the start of this chart this has been in an uptrend. You can see many times it has gone flat. To me this chart is a currently at the bottom of a flat section. One of 2 things are likely to happen next a prolonged flat position where you would not gain of loose much. Or a break out into a substantial rise.

JamesRennie Updated 

Got Link in range trade. Expecting a trend reversal here with this divergence. Looking to HODL this bounce before range trade sells back to ETH.

JamesRennie Updated 

Ethereum looks to be hitting resistance. It's likely to see a short-term pullback here. I have marked a range on the chart that is likely for this pullback. Also worth watching the moving average I have added here also.

JamesRennie Updated 

ETH straight to the moon from here seems to be the current sentiment. I don't think people are wrong in the arguments for the fundamental advancement of Ethereum. They are just early. The biggest complaint by far is about ETH gas costs. People will need to switch to roll-ups and that will take time. Sidechains are a bad idea for very large transactions. ...