ThulsaDoom

ThulsaDoom

Closer look at XBTUSD on Bitmex. The recent rejection from the top of the rising wedge on the 1day/1week charts has caused a significant dump through a recent support level (yellow) that we were holding. For now, staying above a key area (11600), but looking rather weak. The CME gap at ~9600 is obviously in play, and closing that gap would require a massive sell...

ThulsaDoom

Appears to be a rising wedge at the moment. Rejected off of the resistance line with a pump to 12500. Fear and Greed index above 80. Weekly RSI very high.

ThulsaDoom

Possible right shoulder of a head and shoulders pattern forming on the 4 hour, 6 hour, and 12 hour charts. Target would be 8900-9000 support zone, where the support trendline is. Invalidated with a close above 9650 or so.

ThulsaDoom

Longer term view. This is a likely top area unless if we break out, which would signal a new bull run, particularly if we set a higher high than 10100. Otherwise, seems likely we retest the support areas of the XBTUSD triangle. Mid 6k's might form an inverted head and shoulders, otherwise, low 5k's are a possibility. Expect downturn in June and July unless if the...

ThulsaDoom

Looks like the wedge is holding for now with another move up testing the resistance above 9600. Potential for a number of trades within the range, likely immediate dump to the support area from here unless if we still test 9600-9800 or so. The three lower highs are reminiscent of the last time we were at 10ks in February before a major crash. May still stay within...

ThulsaDoom

ICXBTC on track to attempt a break out of major downtrend channel (since February) soon, within this month or early May, if it holds the current linear regression channel. Just bounced off the resistance of the last few weeks at 32k sats. Watch for a possible test of 38k within the next few days, and highly likely by the end of the month, as long as BTCUSD holds up.

ThulsaDoom Updated 

Some potential with the new upwards trending channel, which broke out from the descending channel after the 47k sat high. Buy the bottom of this channel, sell the top (or around 31500-32000 depending on the order book) and rebuy the bottom for accumulation. Stop loss around 28400 sats or if the channel breaks decisively. An upwards breakout from the channel might...