TheCryptAlpha

TheCryptAlpha

We are at the bottom of the market, Bitcoin has seen some major flush outs as institutions that ave poorly managed positions keep causing selling pressure. The market needs to be stimulated for the next leg up and until then we consolidate at the lows. Typically bitcoin does not break down below previous lows but we have been trading under $20,000. The market will...

TheCryptAlpha

My chart simply shows the similarities of Nasdaq compared to Bitcoin price and the price action. Bitcoin clearly moves about 2X Faster then nasdaq sometimes even quicker. IF we were to take this in to account we are to see the 20K breakout by the same time next year. If Bitcoin closes above 12K for more then 1-2 weeks this will be extremely bullish case for the...

TheCryptAlpha

We are experiencing a pullback greater than 40% from the recent highs. This is not a typical bitcoin pull back, and we need to resolve this sooner than later to have a healthy continuation on the up-trend. Here is a very simple chart of what the situation is at the given moment, Since we dropped the short term moving averages and dove right under the 200MA we are...

TheCryptAlpha

To me the technicals on ETH clearly show that there is some sort of error in the price discovery when we had the run up in 2017-2018. Bitcoin has been able to reach to $20,000 pull back then regain price action back to $13,000 essentially reclaiming the lost price. As for ETH we have been to near $1,500 pulled back to under $100 and now have trouble holding $200...

TheCryptAlpha

We are looking at the first signs, and steps of a market reversal. The volume has died down significantly and the market seems to be ranging and neutral in essence. This is not a bad thing anything that allows us to spend as much time in these areas as possible will usually be a very good sign, dropping price action quickly is a sign that the prices are incorrect...

TheCryptAlpha Updated 

Market trends tend to continue for quite some time, If you fight the trend and try to go against the trend you will get recked. The trend is your friend so let the stars align and go with the flow. Thats how we did so well in 2018 pull back right? Or you thought it would go higher? Now when the market is pumping you want to put the bear hat in the closet. Thanks...

TheCryptAlpha

We are looking at a pullback, If we do not bounce the price we will continue to go down. We are going to start testing previous supports, and according to my chart we have nothing below us, $8500 - $7500- $6000 - $5000 - $3000 is stil all in play. Nothing really changed from the drop between now and 2018. Will it go down down straight without bouncing, I doubt it....

TheCryptAlpha

We are experiencing a purge in my opinion due to large exchanges and institutions buying bitcoin. They are trying to HODL bitcoin not your shit coin. Due to this you will notice that BTC dominance is at all time highs, and it might be even worse. It might get to the point where ALTS will get crushed into oblivion. You can see the results in the shitcoins vs. btc....

TheCryptAlpha

We are approaching the potential of another one to two more weeks of upside. Since the market was unable to break down the $7,500 the bulls are back in the driver seat with low liquidity and zero buying volume we can see they were able to push the price up between $7,500 to $8150 - A whopping $650 within less than 48 hours. I am anticipating a buying frenzy...

TheCryptAlpha Updated 

Let's review the current market conditions to understand what we are to expect in the near future... When we broke down the $6,000 level back in January we spent appx. 3 months in an accumulation phase in preparation of the break out back up to retest the $6,000 break down level. After this accumulation phase, we had a beautiful run up in the past couple of...

TheCryptAlpha

I like to keep things plain and simple, There will be a pull back, We are not anywhere close to or ready to break out after just a couple of months of sliding over 100%. Lets be realistic, Its not happening. Market breaks up and pulls back in waves, you get an impulsive and corrective wave. The market is currently being manipulated and it's also very confused...

TheCryptAlpha Updated 

We are watching the money flow at work -> The market usually trades in areas that it feels comfortable in. We watched Bitcoin drop $6K Level indicator that for over a year people said would never be possible, and this happened, The reason was that there were way too many people that purchased at $6K - $12K which was a 100% difference in price. then we ranged...

TheCryptAlpha Updated 

Bitcoin will certainly trade very interesting in the next few months. If we close above $5200-5300 depending on the exchange you are looking at we will have a very bullish scenario into the $5500-6500 area which should have major overhead resistance. But... It seems to me that the market is due for a pullback and a regroup on what exactly will be the next move...

TheCryptAlpha Updated 

It seems to me that we are in a bearish descending pennant similar to what we experienced between 20-6K with it bouncing from 6K then retesting 12-13K and rinse and repeat. Nothing about these moves are anywhere bearish, But it does not mean that we can't and nice 15-50% rallies in between. This is the part of trading that separate the boys from the men. JUst when...

TheCryptAlpha

Market is choppy, I would not recommend trading long time frames here, I would buy at support sell at resistance. Good luck, Not trading Advice

TheCryptAlpha

This is my outlook for what we can expect in 2019 Best of luck traders!

TheCryptAlpha

Both bullish and bearish scenario here, Are we breaking up to close the gap between where we are trading now and the $5500 level then back down? Or do we skip the retest and just drop down lower. I think that alot of people are starting to get very smart and will wait for lower prices before throwing trades on, fomo is not lasting too long as everyone is quick to...

TheCryptAlpha

The Bitcoin pump was fun, lots of money to be made, but as all good things sometimes have to come to an end. The market has given us a relief rally that eventually needs to pull back, further deciding on how deep we will pull back. We must now hedge against our positions, or sell to buy back at a later time. Lets not forget we are still in a bear market. The next...