Most of the explaination is on the chart I have updated this from the last time I posted it due to the recent push up, which appears to have happened earlier than expected ( Arrowed ) This has also ossibly happened early in response to the DXY and the FED predicted Rate hike on Feb 1st. People are talking about a 25 point rise and not a 50 - If 50 or higher...
#Bitcoin Weekly Chart shows how PA is now up against a line of resistance it has NEVER crossed Caution should be the order of the day as there is also a Weekly Death Cross coming in Daily shows overBought but still a little room to trendline so Rejection Not happened yet PLEASE be careful We all want PA to cross that Trendline and Sentiment is very overjoyed...
Daily TOTAL chart shows we near completed to the neckline of FTX crash recovery MACD, RSI & StochRSI all overbought 4 hour shows similar state and so it is very likely that PA will remain range bound along the trendline now, but as support VERY BULLISH for future moves But I think we still need to take care that is not turned into a Bull trap by those BEars with...
I see a lot of people jumping up and down about ATLS running but this chart shows a level of caution should remain That 200 SMA has rejected PA harsly before and may well do so again - However, on the 4 hour chart, PA is being supported well by the 50 But, may not be enough.... Once PA gets through this 200, than I am all in Untill then, please remain cautious
PA dropped below its support but has hung on to it ever since but by midnight tonight ( Friday) it has to make a choice To break over that line of resistance and try higher again or maybe take a step down and try again later. RSI is overbought & 1 hour StochRSI is Overbought so likely to drop, though can range. MACD is in better shape on a 1 hour DXY can try...
TOTAL crypto Market cap maybe about to hit resistance Approaching Fib Circle. Usual Resistance PA surrounding the Left circle appears to be playing out on a bigger scale and if this is valid, Dip incoming as validated by Fib Circle Support offered by a Low MACD though StochRSI overbought This and with Fundimentals like the US dept of Justice saying thet Tough...
For the first time on a Weekly chart, BTC is facing a Dearth Cross on the 50 SMA ( red) and the 200 ( Yellow) Chart also Shows that the 50SMA is starting to lift off projected path towards the Death Cross This has never happened on a BTC chart before and I do not see how it can be avoided now BTC has ignored these on a daily- Jun '21 for instance, Where PA...
Half way through the week, I think its important to look at the bigger picture right now, after a week of "Bulls" return Strong resistance met, initial rejection despite Fundamentals Double Bottom played perfect But a LOWER HIGH CAUTION until we break free PA needs a reset anyway but the real test is that long term resistance that began before the 1st ATH in '21
I am reverting back to my original idea about this chart. That Is an ascending Triangle and if you go into the 15min chart, you will see it as near perfect, with the top horizontal line bang on the 4.618 "local" Fib line And all the while this ranges across, the 4 hour MACD is cooling down fast The Apex of this Triangle is on Friday and PA Will react before then...
PA coming under pressure here and is bumping into the 200 SMA for first time since April '22 It is also running along upper trendline of long term channel AND at same time, now hitting the longer term resistance from Off ATH This is a crucial time for ALTS They have already begun a slight pul back in Markets while BTC PA appears to be hanging on for now.
I stand corrected - Looks like BTC PA on the hourly has formed a rising channel and is now approaching the 4.618 "local" Fib line 4 Hour MACD still Overbought so am expecting rejection at some point BUT other coins have already begun to do that and yet BTC is still hanging on. Has the strength of the Bulls increased enough to Keep PA Ranging and not to dip ? DXY...
Things are gettign tight and PA will have to react in the next 24 hours at the Very Longest. could happen any time and, if I am honest, It will be a Drop in PA 1 hour MACD is oversold but the 4 hour is still over bought and has to be cooled off - that may happen after the 1 hour plays out a push up and then gets rejected. Just something to keep an eye on as if...
TOTAL Crypto Cap Everyone screaming BULL but Take Care right now RSI is as Overbought as it was in Jan & Feb '21 when it pulled back 39% & 23% (Arrowed) THEN it went on to reach new highs PA is also now touching upper trendline PA may Range but I feel a Dip is more likely This would allow a reset of MACD &RSI, which would, once again, give PA the ability to ...
This is using the idea of a Fractal taken from DXY PA from 1995 - 2002 - Similar 27% push up and then a retrace and then more But the PA of DXY is pushing against the Neck line of a long Term Cup that has a lid at around 118 - DXY may keep trying to break it as it has previously but failed. As mentioned in a previous post about Bitcoin, It has a choice to make by...
#Bitcoin Weekly 1st thing this chart shows you is that PA HAS to make a Choice by Mid April as it gets squeezed by 2 powerful Trendlines confluence with DXY chart - possible rejection for BTC then Leaving the -29% marker in as still a possibility As we all know, we are in a period of time where anything can happen and I am certain, as it makes good business...
Long Term, I have every belief that #Bitcoin will stay above this long term Lower trendline on a weekly chart However, as we can see from March '20, given certain fundamentals, it can wick down below But recovery was relatively quick Tomorrow, Jan 9th, We have possible another HUGE Crypto problem with the contested Debt that Digital Currency Group ( DCG )...
Monthly #Bitcoin chart with Halving dates what is notable is how much the % increase in PA has been dropping each halving. 2012 Halving 10K% rise after 2016 Halving 3,5K% rise after 2020 Halving 700 % rise after Projected PA below would also be 700% BUT, Bitcoin is far more public now and the Halving Pumps will be talked about aLot. Could the Next halving...
Bitcoin Weekly chart The Vertical Red lines are Fib Time Zones and these ones are Bearish PA got Rejection off every one and the next one is on week of 2nd Jan which also intersects with the 4.618 Fib circle, As you can see, Previous 618's have also caused Rejection though PA may have descended before hitting the 3.618 End od Dec, Beginning of Jan has many...