JoeyGrams

JoeyGrams

Quick idea - chart looks very similar to the 6k -> 3k drop from 2018. We had a large draw down, extended consolidation and then a move to 13k over as soon as the price turned around (ie. re-took 200MA). Not saying it happens again here, but it's pretty clear we're going to continue moving downward for consolidation in the 8000s range. Green boxes have been...

JoeyGrams

Told you so. Now that the price is testing testing support at 6900ish for the third time in four months, there are a few TA items of note moving forward. 1. Third Time the Charm This is the third time BTC has used 6900ish as a support level. Generally, this is a bull sign if it holds - the only downside thus far is that the bounce from this level hasn't been...

JoeyGrams

Friends, To recap - we discussed the April 12 candle pushing the price from 6900 to 7900 without a hiccup, and the problems that would cause in future price action; we seem to be in this zone now, though we began the price finding between 6900 and 7900 back on May 23 2018. Now, as BTC tries to find footing around 7600 - significant because of the support that...

JoeyGrams

Mentioned this in the last post, but here it is again - 7900 is a test I knew we would see, and here we are - now, though, the April 12th candle is the next price move that needs to be met with some retrace/price finding. 6900 is the lowest-ish we may see if the 79/7800 support doesn't hold. If it does, BTC will likely (finally) make a somewhat reliable upward move.

JoeyGrams

BTC still somehow having problems crashing upward through 8900 USD - not sure what the issue is. Tons of good news from Consensus, tons of new applications from industry and maybe most importantly another major country (Australia) bans cash transaction over 10k. If ever there was a time when the spotlight was on BTC while news lent itself to new ways to use the...

JoeyGrams

BTC failed to find the steam even with Consensus - to push up past the $8700-$8900 USD level yesterday and this morning (EST, anyways). What now for the monolith? Previous violence at and around the 8k level - April 12-18, 2018/March 14-26, 2018 albeit a little less obviously - tells me that the next support line will be at that level. I suspect that, given the...

JoeyGrams

Like usual, just posting this for my own records. Make of this what you will, but I see this 8800 level as being a price magnet, and for whatever reason it seems folks like moving in and out at this level. It'll test again, probably before the end of the weekend, and then head down to 7900 ish. Buckle up.

JoeyGrams

This level had resistance twice on the daily in late April - and March, really - needs high volume, overwhelming positive sentiment and a bunch of confident investors deciding to hang around into the 10k range as opposed to cutting their losses at that level. We shall see.

JoeyGrams

Not much to say here - BTC is having trouble getting out ahead of the bear trend/200MA day after day. The chop isn't a good sign, the volume is still too low, and there frankly hasn't been enough pain/shake out over the last five months. Without a breakout above 9300 ish (probably closer to 9500 with some force, really) the price will drop into the 8700 area once...

JoeyGrams

Count the indicators: 1. Price action about to bounce off of downward channel line. Oy. 2. 200MA rejected two dailies attempting to reclaim the line. 3. BB Bands showing low velocity, bear expectation. 4. EMA 12/26 not showing the kind of separation one might expect in a bull market. The longer this downward trend continues, the more that price action is...

JoeyGrams

Just a quick one, more for my records than anything else. BTC 3.75% pushing up past trend resistance again today. Basically, to me, the following needs to happen for the bulls to run (finally) with some conviction. 1. BTC 3.75% has to push through the trend with volume - multiple D candles with high volume, no tall wicks, and consistent upward trends day to...

JoeyGrams

Not much to say here - 28k-30k sat range proves to be a tough resistance line, even after a nice pop middle/late last week. Volume way down on the current red daily is a good sign, even though the drop has been significant in the short term. I have ZERO idea how to draw a trend line on this, so we'll sit on the resistance lines and pretend we know what we're...

JoeyGrams

ADABTC meets some resistance where there was matching violence in a bear trend back in Feb - not much volume on these alts compared to "altszn" last year, so this isn't a really big deal in my opinion. Still a nice accumulation zone in all likelihood. Still bullish, and apart from the chart, we all know alts will rise again sooner rather than later. Bear Short...

JoeyGrams

Log trend line still holding the BTC price below/at ~9k level - volume on first attempt was too low to break through and isn't showing signs on today\s daily either. The move past 9k doesn't have to be today, but it does have to be in the next week or so, or the bottom we're looking at is likely again in the 6800 range. Bull Short Term - 9k and then a quick ramp...

JoeyGrams

Title says it all. If $BTC falls below any of those indicators, or if today's daily engulfs the price gains from the last few days, be concerned.

JoeyGrams

COINBASE:BTCUSD Bitcoin FINALLY shows a reliable bull signal - yesterday's hour long run from ~6900 to ~8100 proves to stay more or less in tact, moving the daily chart out of the downward trend BTC has been in since Mid December/Early January. Big news.

JoeyGrams

ETHUSD/LTCUSD/BTCUSD all sitting around the bottom of a descending wedge on the daily, due for a move in the next week or two, if not sooner. BTC, like always, will drive the market in a major move before April 22, either down to the 5900 level or back up to the 9000 level before making a larger jump or fall.