UnknownUnicorn3241100

UnknownUnicorn3241100 Updated 

Bitcoin never made a true bottom from this perspective. It has completed a .618 retracement of the last swing high that lined up with a 4.23 extension off the swing low and now has show rejection of that area. If this continues, expect to see Bitcoin start to test lower fib supports and make its way back toward the previous lows. If the retracement lineup...

UnknownUnicorn3241100 Updated 

My Notes: This is a simple ascending triangle setup using retracement fibs and fib extensions where volume first appears with a change of direction to end the downtrend on the daily chart. The entry I took was a little aggressive, but the pattern has broken and I am not waiting for a hook back to prove support where the breakout occurred around 2.92 USD. If...

UnknownUnicorn3241100 Updated 

Just to be clear: I am long on ETH and flat on BTC. In the chart above, the candles are BTC/USD, the blue line is ETH/USD, and the comparison in purple below is ETH/USD. The chart shows a weekly view to fit the entire analysis in the frame, but the potential price paths I drew in it could play out in a matter of hours or days if the market speed accelerates. I...

UnknownUnicorn3241100 Updated 

Bitcoin rejected the top boundary of the long term trend shortly after squaring up the previous 4 hour candle drop from 7400 to 6900 on August 12th. With the return of the heavy volume dumping, we see the formation of a new 240 bear flag. This drop in price action is hitting harder and faster than the last drop from the 8400 area to test the bottom around the...

UnknownUnicorn3241100 Updated 

Expect the bear flag to continue with a possible head fake up to 7300. Volume should increase drastically and then the failed head fake will turn into momentum to finish the bear flag off and break the 6800 level to enter new lower lows. See the comments for identification of the bear flag. This is NOT financial advice, do your own research!