Mike_Honcho

Mike_Honcho

Lookin like we may have just hit the bounce target

Mike_Honcho

I've pulled my channel bottom down parallel to last years lows and its barely hangin in but damn the btc pair looks terrible steady bleeding satoshis for months. It does have a history of bouncing pretty hard and btc dominance along with btcusd look toppy to me right now so I'm just crossing my fingers at this point

Mike_Honcho

If this thing breaks to the upside with some balls we might just break the whole downtrend channel from $13900s. I'm still guessing we head back down a little but it definitely looks like it could break out with just a little move up and make another big run up. Either way it looks like we should find out soon

Mike_Honcho

Trying to convince myself shes not gonna die on me but its getting real close to droppin out.

Mike_Honcho

Good example of even when it looks safe to short bitcoin you never know when the liquidation fairy is comin to bart some money out of your pocket

Mike_Honcho

Starting to think I may have bet on the wrong horse with eth in the short term but I'm still not sure how it's gonna work after September with the ip blocking on binance. They've been even more of the volume in the market lately with the addition of margin trading and when us muricans get the boot the thinner order books are probably gonna be ripe for shitcoin...

Mike_Honcho

I'm still looking for more up through September but with earnings tomorrow and the overall market being a little shaky a stop loss in here somewhere is probably a good move just in case

Mike_Honcho

My best guess is we ride this down a bit while hopefully giving alts a chance to catch up cause dominance is crazy. Then come to a good point to break that down channel and run for new yearly highs, but at this point who really knows.

Mike_Honcho

I don't really trust this one but it looks like a good time as any to pick up a little bit for a potential lotto ticket

Mike_Honcho

Still looks interesting from out here and a better view of the volume going on. Fairly tight spot for a stop loss too if you're into that sort of thing.

Mike_Honcho

Can't post side by sides cause I'm on the freebie but I assure you the bitcoin pair looks just as ready

Mike_Honcho

Given up a lot more ground than I thought they would since $9400 without much of a fight. There have to be some battle lines set up here somewhere right? Kinda want to see some support set up at this point cause I don't trust anything that looks too easy anymore.

Mike_Honcho

Just afraid in a couple weeks i'm gonna wish I had picked up more under $2

Mike_Honcho

Still kinda seeing a downtrend inside of a bigger uptrend that could consolidate a while longer until it breaks one way or the other and brings some volume, but also thinking Ethereum is in a good place for a big upside move to kickstart the market a little.

Mike_Honcho

Am I gonna get made fun of for using a pitch fan backwards here? Either way if this doesn't break to the upside this weekend Ima give up and go all in bitconnect

Mike_Honcho

Asking for a friend :)

Mike_Honcho

This along with the bitcoin pair at a channel bottom and btc getting some upward momentum Ethereum might just wake up soon. Wish I knew how to post side by side charts

Mike_Honcho Updated 

Hopefully now that this channel bottom has been defended a few times we can start testing some of the resistance going up