Mrgalaxy

Mrgalaxy

Just a quick one. Textbook example of a dump to grab liquidity and trap late short sellers. Bulls grabbing fuel to help drive the next leg up and wash out over leveraged long positions. You can see pretty clearly using the bixmex short positions vs btc price.

Mrgalaxy

CRYPTOCAP:BTC is looking very strong on the weekly however we are early in the cycle. Some simple ideas here. 0.618 retrace level is broken pre halving which is a surprise that would have caused many to be sidelined. I think it is unlikely the market will let them back in anytime soon especially given the strong ETF inflows. Ongoing the trend will be Up when...

Mrgalaxy

Monthly, Weekly and Daily are looking very, very strong for BTC. This recent move to 40000 has been driven by spot demand as opposed to futures. There has been lots of accumulation across all wallet size cohorts from small to whales according to glassnode. There simply is not enough BTC currently for sale at these prices. It is most likely too late to get a...

Mrgalaxy

If you are in a long term long and have been averaging in since near the bottom at the end of last year or so then it's probably a good time to start thinking about taking some profits. I think I'm around %170 up at the moment....I can't complain about that. The big question is if there is a retrace ( which there has to be at some point ) will it go deep enough...

Mrgalaxy Updated 

Hi! This it a fairly simple idea. Inverse Head and shoulders pattern developing on the 1h - 4hr charts btc/usd. However not a trend reversal so maybe it doesn't count... It means there is potential for a jump past the current $8200 resistance to somewhere around $8500 or even as high as $9600. I haven't added MA resistance points to keep things simple. That...