Socraticpause

Socraticpause

Overview : I've treated 42k-30k range as a no-trade zone, but I'm getting ready to make an exception for this bounce off the top of the triangle that was a couple of weeks in the making. TA pointed to us breaking down to a sub-30k btc, but bitcoin's fundamentals are proving to be more resilient than most expected. Someone is buying the hell out of the mid 30's....

Socraticpause

Overview : The daily chart looks far more troubled than the weekly, but it's an important perspective, so let's dig in. TA: Curves do what lines do, only better. This TA demonstrates just how tight we're coiling, and in my view, we have a 5k drop to the 54k area to test the bottom curve before we even begin to entertain a substantial drop into the 40s (I...

Socraticpause

Overview : Weeks-long consolidation in the 50's has provided either an extremely tightly coiled springboard for the next move up, or a clear sign that bulls are tired, the market's out of buyers, and a major wipeout is imminent. TA : I have to say, the TA, without any additional insights from on-chain analytics, would have me extremely worried here. Instead,...

Socraticpause Updated 

Overview : This chart's price action looks much worse than it really is. The sloppy ascending triangle, which is typically bullish, but has broken down twice in the past 3 days, broke down again, No surprises there. What I see : Low volume, a diverging RSI, a boring MACD, and pretty steady selling pressure, but nothing convincing. Where we're headed: I...

Socraticpause Updated 

Overview : BTC/USD came back from the brink, but that deep of a correction that fast is not going to leave us without a fight from the bears. WTF Mate? Crazy chop at the recent bottom. Everybody wanted in, and everybody wanted out, depending on the hour, for 16 hours straight. What a ride. TA : We're inside of a sloppy ascending...

Socraticpause

No analysis here, just putting up some information for perspective and reference. Chart includes: Time in weeks from peak to peak (light green) and from bottom to bottom (light blue). Time in weeks from price top to bottom (horizontal green), and from bottom to top (dotted red) Percentage gain from peak to peak (light green) and from bottom to bottom (light...

Socraticpause

Some unusual price action today in BTC/USD today. We've heard about lots of in-flows from mining pools to exchanges, and we've heard some very weak fud from increasingly weak voices in the news. What I see: Every once in awhile, we don't get the capitulation candle, even after 20%+ drops in price. Sometimes, for reasons sometimes never revealed, the selloff...

Socraticpause

Well, that was intense. Let's get right to it. I like the recovery so far, but we have some work to do on the price action front. The good: The RSI is ahead of the price, the MACD is rolling over to the upside, and we have a little support around the 52k area. The bad: That was a helluva selloff, so there could be some residual shakeout action, but I'd be...

Socraticpause

I honestly just made this as a way to get some perspective on time spent in various price ranges. Used psychological 10's to keep it nice and simple. No analysis, just thought it was interesting to look at. Interesting to see that the majority of the 40-50k range time period was spent in the 30k's. I'd be curious to hear other observations. Take care.

Socraticpause

BTC making some progress here. Although it's a delicate trading-scape, the grind up is nice to see for hodlers. Just doesn't seem to be enough selling pressure to scare anyone. Woo's on-chain analysis suggests spot buying demand remains strong, and pullbacks result in whales scooping up cheaper coins and taking them off exchanges. As long as that's happening, it's...

Socraticpause Updated 

Using the channel to guide me here. Lots of other metrics line up with it, and Elon's fakeout pump aside, it's been a pretty useful trend indicator. Fundamentals all in-tact. Bears have to constantly wonder about yet another entity coming out with bitcoin on the books. I'd rather be a bull here.

Socraticpause

Not much to see here. Exchanges look bearish, but not enough to create a squeeze. Divergence exists, but not enough for an all-out dump. Sentiment has settled down despite the good news. Markets in the US closed today, so nothing to hang your hat on just yet if you're into correlation plays. Lots of correction talk, long vs shorts skewing slightly bearish, and...

Socraticpause

Overview : Not sure what to make of this trend. I haven't seen any meaningful analysis on this, so I'm hoping to get feedback from this idea from those who know more. It is rare we find a pattern that plays out 100% of the time, so this analysis might prove either too shallow, or too broad to be useful, but either way, here goes: Technical Analysis : Every...

Socraticpause

Overview: Made this chart early in the week. It's played out well enough to warrant sharing. Whatever the bright red trendline is, is saving bitcoin from a significant pullback. So far, so good. Analysis: A 4hr close below the the red trendline would signal further retracement. While there are several weak support lines along the way, the descent to the mid-16k's...

Socraticpause

In my view, this is the healthiest path forward for BTC. Euphoria is being contained below 14k, but a sudden impulse to the upside would likely create the potential for unnatural moves up resulting in a blow-off top, indicating a trend-reversal and heavy liquidation. Not impossible to recover from that, but if we can possibly contain the excitement until a 20k...

Socraticpause

Overview : LTO breaking out despite bitcoin's own breakout north of 12k. Look for a R/S flip to confirm continuation. Analysis : LTO has been in a healthy uptrend channel since the end of May. The ebb and flow of the gains and pullbacks have been organic and measured. Something chartists should love to see. The overhead resistance is limited at the .125-.126...

Socraticpause

Overview : Bitcoin is respecting the trendline from late July on the 4hr chart. It is also up against stiff resistance just above 12k. Bitcoin doesn't respond lightly to such patterns. Analysis : Bitcoin has touched the black trendline shown almost 10 times since mid-late July's breakout. Since the top line line of resistance at 12k is almost perfectly...

Socraticpause

Overview : The IHS pattern is underway on larger time frames, confirmed r/s flip on smaller time frames. Analysis : NKN/USDT looking healthy with a decent influx of volume overnight. Expect more volume if larger time frames confirm continuation (at the earliest tomorrow, latest by Saturday evening). Our targets are more or less aligned with resistance levels....