all analysis in the chart. things are looking great on the 4 hour chart. volumes are back. RSI is trending in the right direction. What's stalling this recovery tho is RSI is hitting major resistance around 60. however, the MACD and DMI are starting to show a positive story. lets see where this goes. On the daily we are still trading inside a descending...
Analysis is in the chart. Long story short we still have a long ways to go and the momentum indicators are not looking great. If you look at my other analysis on the hourly chart you'll see a bearish divergence taking place on the RSI. Seems 70 is the cap in this market and this is why we are seeing prices stalled around 8.5K zone. Anyway have a look at what...
BTC Market Update: "The four most dangerous words in investing are: This time it's different" -Sir John Templeton BTC has been trading sideways with no clear direction. Let's examine what the charts are telling us. The bulls have defended my support zones (1,2) after breaking out of my ascending line. However, it is hitting two minor resistance ceilings...
Dear Traders, What a ride the last few days. If you were patient and ignored all the FOMO, bear traps and naysayers you scooped up some BTC around 6k...well we proved those #HODLers wrong. Thank you shorts. We scooped up positions around 6k levels at record low RSI and we thought we were going to the moon. Buuuttt not so fast. We all know BTC is hitting...
We like to complicate things with EW, FIB, fractals and more complicated approaches with insane trend lines looking at every possible time frame. At the end of the day the best analysis is the clean and simple. I don't really need to go on and explain whats happening here as it explains itself. Let's just say RSI won identifying the bearish divergence in the...
Keeping this short and simple as I'll be using this short term chart to help support any longer term trendiness. It's looking more and more bearish people! It looks like what is wave 7 of my analysis that BTC price just fell below the bottom ascending line. momentum is not accelerating which can also be confirmed by the bearish divergence we see in the momentum...
Hello all, I'm going to keep this short and sweet. I think we all have read just about every published idea on where BTC is headed in the coming weeks looking at fractals, Fibonacci, EW theory and some 5th grader trend lines. At the end of the day in a bear market it's rather simple to identify resistance levels especially when they have fallen from just about...
This is not really a technical analysis publication. I just wanted to put somethings in perspective as to how bad this downturn is. We will more than likely need another retest of the recent lows for a further bull run to be intact. Why? Because we haven't seen such a sharp back under the 200 MA in recent Bitcoin history. At least not in the past 3 years. ...