Comparing BTC and DXY (US dollar) weekly charts side by side they look almost directly inversely correlated since the beginning of 2017.
Comparing their monthly charts: DXY is looking toppy potentially forming the right shoulder of a H&S while also approaching historical resistance. BTC is approaching historical support at the $2.8-$3 level.
With...
Needless to say since the last time I posted a chart that Bitcoin lost 200EMA support and is officially bearish until further notice.
With that being said we got our first glimpse of hope today in the form of the biggest daily volume candle that I have ever seen. Normally that would be an indicator that a reversal is underway. I am not convinced of that quite...
BTC finally dips below the 200EMA (all the way to $8400) wiping out stops and then climbs back up to close right above it.
Not a strong enough bounce. May need to test even lower. But also a flat bottom kumo and the price tends to attract to that like a magnet. We shall see. The next 24 hours will be interesting.
As long as we close above the 200EMA on the...
Nothing is better than when good TA meets good FA and I think we may have that happening here.
I think TA wise this chart provides a great risk:reward due to a potential 5th wave of the Elliott Wave. Due to where it is located, though, it can not close on the daily much lower or else it will be invalidated but the upside is tremendous if it holds its current...
Just posting this chart to post my general crypto market thoughts at this current time.
This is my first time experiencing a full market cycle in the crypto world. I dipped my toes in the crypto water about a year ago. Bought almost near the top (like most noobs) at around $2400 which seems like it was a few years ago. Sucked at the time, but mix that learning...
$LUN (Lunyr) is a decentralized knowledge sharing platform (aiming to be decentralized Wikipedia).
TA and FA are both currently bullish IMO which makes me short and long term bullish:
TA: This daily chart looks great. Its above all the key MAs and above the cloud and the top of the horizontal kumo. Also looks like it about to break out of a 4 month cup and...
Daily candle closed right below the Ichimoku cloud and has since experienced a kumo break.
A close within the cloud will be a well received bullish sign. A close below the cloud would be a disappointing rejection that I believe would lead to another test of our recent lows.
Looks like we are in the midst of a classic bear trap. Low volume walk down of the price which I believe is attributed to a few reasons:
1) basic market cycle; bitcoin exploded at the end of last year and was due for a cool down before its next leg up.
2) Shake out the new weak hands. It is a cliche saying but a ton of new money came in during the last run not...
