A sloppy chart but you get the point.
The fact that we have had weekly closes below the decently respected 200MA which only has happened twice the past 20 years (2001, 48%-ish drop and 2008, 52%-ish drop) combined with the dreadful unemployment projections from Goldman Sachs and Bank of America, which both has very good track-records for making these projections...
Expecting sideways trending/consolidation in the $9600-$8900 range for a while between the historically very strong support and resistance of the upper-200D and 200W CZ's and the 50W/200D MA's (the diminishing buy-volume and flat sell volume also supports consolidation).
On breakout I expect a violent uptrend. Positive-slopes on important macro MA's and CZ's...
Expecting sideways trending/consolidation in the $9600-$8900 range for a while between the historically very strong support and resistance of the upper-daily and monthly CZ's and the 50W/200D MA's (the diminishing buy-volume and flat sell volume also supports consolidation).
On breakout I expect a violent uptrend. Positive-slopes on important macro MA's and CZ's...
Another possible scenario for long-term BTC movement.
This is a little different scenario than the first one I have posted (see related ideas), and I believe this may be a more likely outcome as I have made some new observations.
The following details described are highlighted in the green circles on the chart:
1. The 50 MA 1W (blue) and 200 MA 1D (red) has...
Bullish OBV and MFI divergence on 4 hr. Bouncing off horizontal support and a number of containment-zones: Daily 50, 100. 4 hr 200, 100. Will make a move shortly, either drop out of the range or bounce. The divergences indicates bounce, most likely to 100 4hr MA.
Entry, profit and stop-loss as shown in chart.
TSLA has fallen under the daily 500 and 200, which are both well respected. There is a hidden bearish OBV-divergence (2) wich indicates poor buying pressure and further decay. There has already played out another bearish OBV-divergence (1) which I believe marked the top for the intermediate term.
I expect a rejection off the daily 500 which is around $297 at this...
We are currently trading on top of the 50 4HR MA containment zone (cyan) and under the 500 1D MA (red) & 100 4HR MA (blue) which creates the squeeze we are currently experiencing.
The 100 4HR MA will push us down through the 200 4HR MA (purple) cointainment-zone and start our next downtrend to 100 1W MA around 4.8k - 5k ish.
As I think we are still trending down towards 4.8k I am playing the bounces as we go down.
Looking at the areas marked in the red circles, we can see that we are respecting both the 4h 100 MA and the 50 MA.
I think we might test and break the 4h 100 MA containment zone. We could bounce there and go straight down, so first short entry will be around there. If we...
A thing I did partly for kicks but also to anticipate the next few weeks and plan my trades.
Notice that the pump up to the 200 MA 1D (yellow) could be in combination with the anticipation of the next SEC ETF-ruling in the end of sept, and the inevitable dump as the SEC will postpone once again.
Main targets the coming weeks: 4800 -> 7000 -> 3000/3200. <--...
First I want to say, this was purely for fun and a lot of liberties has been taken :)
Explanation: Each time the purple horizontal lines crosses the trendline, we start massive bull-runs.
At the time I'm writing this we are coming up on the 200 MA 1D and 50 MA 1W, and I predict a massive rejection down to new lows of this cycle.
A shift will occur when the MA's...
When these two moving averages has crossed in the past, BTC has gone down.
When they cross again, BTC goes up.
No guarantee it will happen again of course, but I think it looks probable.
I think we have some more correcting to do, then up and away in 2019!
BTC has proven to respect the 200 MA on the 1D chart and 50 MA on the 1W chart. We are coming up on both.
In addition to this, there is a lot of horisontal resistance in the $8700-$9000 area.
I think we might see a bit further upside to the $8330-$8525 range, but after that we are going down to the lower band of the 50 MA to test new lows.
Buy-in:...
A simple chart using the major trendlines, horisontal support/resistance and current channel to determine a good entry-point to long BTC.
Nothing fancy, just basics.
Hopefully we bounce and break out of the triangle. If we break down below support @6800-6780, things are not looking good for the next months.
