algocowboy2030

algocowboy2030

Reason 1: BTC uncertain/general sentiment a bit in question. Reason 2: we are up against major resistance on the daily chart (see chart). Reason 3: major bear div on daily chart. Reason 4: Elliot wave is either complete or we are approaching Wave 5 which is against my rules due to it being the highest risk wave to enter. Reason 5: price action in...

algocowboy2030

The deeper it retraces, the better the RRR. I wouldn't enter unless I saw a good reason such as a 3 bar reversal or double bottom, etc. .618 does give us the possibility of a 1:1 RRR ***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice....

algocowboy2030

I am seeing a potential falling wedge reversal for XRP as per chart above. XRP's addition to coinbase was not really reflected in the market. Likely it has been priced in and there are other fundamentals that far outweigh XRP. Also, I believe that XRP is highly manipulated by the banksters that own it, so I don't look at TA below the 4 HR timeframe. I do...

algocowboy2030 Updated 

BTC showing some obvious and not-so-obvious signs of bullisness. Bitgur displays open interest for CME and CBOE traders (citation at end of report). The smaller traders are long while the larger traders are short. This makes sense as the larger traders need more time to enter and exit positions in such a small market, so they are anticipating a later move down....

algocowboy2030

We are seeing a drop in BTC positions in overall markets. This is reflected in my portfolio as I am currently over 96% in stable coins. The word for this is "Flat". We are still in an overall down trend, although I think that trend is slowing down. Eventually, the downtrend should reverse and I will change my general bearish sentiment. During an overall down...

algocowboy2030 Updated 

Why am I in BTC right now? 3000 was a well shilled floor and seems to have been well defended. The ETF news didn't really affect price much, so that tells me that most of your news-affected panic sellers are either out of the market OR the MM didn't want price to fall too far so they absorbed the sells. This got me thinking and analyzing the next move when a...

algocowboy2030

Below are a few different paths I see BTC following over the next several days. The thicker yellow path is the most likely path by my estimation. ***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for...

algocowboy2030

Possible stop hunt and rise to top of consolidation and then fall to yearly lows ***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial...

algocowboy2030

BTC has a history of hard drops into bear flags. Inside of the current flag, I am seeing some fractals form quite beautifully. These fractals are shrinking commensurate with the upper and lower bounds of the flag, so it appears that our time is winding down until we see a big move. I think we will see bottom of BTC Q1 this year, so anytime between now and...

algocowboy2030

I am leaning toward the bearish outcome here, but I think we could easily see a rise to 3800 before we fall out of the triangle. We have an all-too familiar bear flag with BTC , although I don't think the yearly low (and macro low) is far off. Next support I will watch on the way down is 2800. If we do have this rise to 3800, likely it will take several days...

algocowboy2030

***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and...

algocowboy2030

Looks like BTC tried to break out this morning and was rejected at 4100. This has the trappings of MM games. A 4 HR shooting star candle is rather bearish with BTC as per the chart, so I have pulled out of BTC and most alts into TUSD. ***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information...

algocowboy2030

Some "out of the box" trend analysis. I normally rely on horizontal market structure and price action for my trading analysis. However, the following is a secondary analysis which gives me confluence for a slightly bullish bias. iI repeat: SLIGHTLY BULLISH . Many may wonder why I have chosen to enter BTC before the Head and Shoulder Bottom meme has completed....

algocowboy2030

H/S is one of the more higher probability patterns for charting and trading. Since this H/S bottom is on the 4 hr chart (and the daily) then we could see a break upwards. With BTC, I have seen so many "obvious" patterns end up getting slammed down by fickle traders and market makers. However, the larger patterns on higher timeframes tend to be less...

algocowboy2030

The chart here shows the short term, but the information below is a bit more involved. Short Term: The more short term moves to consider will the the breaking of the local 3900 resistance or the local 3500 support. A clean break of either of these should be a strong clue as to the next direction we will see.. A break above 3900 will likely mean a restest of...

algocowboy2030

BTC UPDATE: This is a little long, but the end result is that we could see a reversal soon. IF we see a reversal, the question will be: is it temporary or will it be the of the bull market? My answer is: it won't matter because if I am in on the reversal, my stop losses will protect me if we head back down. So... Let's dive in. What do my charts say? We...

algocowboy2030

technical entry after retrace ***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. ...

algocowboy2030

BTC cought some suport around 5400 after hitting a demand zone at 5200. I espect 5200 to be well defended as a result. This chart shows how a very bearish sentiment over the next 2 weeks would play out in the charts ***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to...