mrjones2020

mrjones2020

They don't want to stall here. If Bulls fail to get above that red block, 73xx minimum, and hold it, they're in trouble. Targeting 62xx until they achieve this...maybe lower, as shown.

mrjones2020

BTC looks like it wants to head lower, imo. Bulls want to get a close above that 50%, 7kish area. And truth be told, put in a HH above this recent 74xx pivot. I'm currently short from just above the EQ. If I get a close into 7xxx I'll likely close it and wait for a different setup. If bears are taking over as I suspect, the blue areas marked out are where...

mrjones2020

In my recent "6950 or Bust" I stated that Bulls wanted to close the week out above that 6938ish (your particular exchange may vary) swing. They were unable to do so. As you can see, this resulted in a quick 200+ move to the downside. Where do we go from here? No one knows. But the blue lines/box are some pretty good ideas as to where it may go. IMO, so...

mrjones2020

Bulls have put up a good fight the past 4 weeks, but a fight it's been. Those large top wicks are a little concerning. Bulls need to get a close above that 6938ish swing. The initial high post dump. As always, practice solid risk management, good luck, and have fun.

mrjones2020

The rally has taken a breather. These are the two paths I see possibly unfolding, what I'm currently watching out for. That 7060/7080 reaction is going to be pivotal. So long as we're over that 67xx orange weekly pivot, Bulls aren't in immediate danger. A 4hr+ close below that orange level, and I'd be out if a Bull. As always, practice solid risk management,...

mrjones2020

In my last post, I said it'd be important for Bulls to close the week over that 6775 pivot...and they did. You saw the reaction, a quick $300 spike. Now can they hold it? Is demand really there? It's important to note, we're coming into the 50% retracement level of the 10k+ to 3.8k dump...If you're in profits on a long, it's a good time to take a little bit...

mrjones2020

So as with most cryptocurrencies, it's been a bearish few weeks for the markets in general. Eth may be getting ready to pop. If it can get a Daily close above the 145 level, I think it's good for at least a 20% move. But let me be clear, it must close on a Daily tf over this level...and is invalid if it breaks that swing in the 120s.... As always, practice...

mrjones2020

10.5 - 3.8k is Bearish, there's no disputing that. We broke MS at 6.7k, and are now fighting to regain that swing. I believe it's imperative Bulls regain/hold that Swing (6775 on this chart). 6536 represents the EQ (50% level) of last month's candle, losing that should see some fireworks. The importance of this 6775 level cannot be overstated. I'll be...

mrjones2020

Things look good currently. We've been grinding UP and along resistance, which is generally a strong signal. I anticipate 7.4, maybe even 8k in the short/near future. As always, the market will make up it's own mind. Losing 6.4k would cast serious doubts in my mind about Bullish ideas. And sub 5.8k I'm likely shorting this ponzi to the ground ;) Good luck...

mrjones2020

Ok, so back on January 25th I brought your attention (to the few who follow me :wink: ) that we had a nice Cup and Handle forming on the Daily, and the measured move target would put us around the 11.6k target... Well, here she comes. One level at a time though. 10k is out next target if we close today above that 9556 level. There's no denying we've been in a...

mrjones2020

You couldn't help but take notice that BTC was waking up when it made that bounce at 6.4k. I'd been calling for 5440 since upper 12's....and even I had to take notice that things were changing. Back in November, I commented that Bulls needed to regain 7620 to show they still had it in em....and then take another 2k with it, and put in a HH. They've just about...

mrjones2020

Here's a little something I've been eyeing up lately. Only time will tell if this plays out, but rounding bottoms are very bullish formations generally. And that's all we have to go by....probability. Odds are in favor of 6.4k holding until we test 10.5k+ in my opinion. I've begun adding small amounts to the Long side, VERY low leverage. Spot I added to long...

mrjones2020

In my last post "I may have to give up 5.4k" (Yellow Box on chart) I stated we were entering a 3Day block, and were likely to see a pullback. I also mentioned the very real possibility of us grinding up a bit further into the block before we headed down. That's exactly what happened. A) We ground up, touching the underside of the 3/1 on the Gann Fan I've...

mrjones2020

In my last post I called for 8.6-8.8k. We hit our target, and then some. I hope you guys took at least some profits. A) Was our 14k* top. At which point we created a beautiful Chuva Fork on the WEEKLY Chart (Pale Orange Dotted Lines from 14k % 12k). We proceeded to correct down to 6.4k. B) 6.4k saw a beautiful bounce after clearing the stops from 6.5k,...

mrjones2020

Ok, you got me, $8470. In my previous post, Bull-still-not-giving-up/ , I set my sites on 8.5, which corresponded to the 8/1 Gann Fan coming down from 14k. A "Last Stand Level" for Bears, if you will. We tapped it (near), and got rejected (as anticipated). I hope you guys took some profit at/near these levels. No one ever went broke taking a profit! A) ...

mrjones2020

Make no mistake, we're still in a multi-month Bearish correction...But it feels good to be Bullish, and making $$ on that side of the trade. And so far, Bulls are looking pretty good, even if they didn't give me the 7080 fill I was after :( A) Is our current structure bottom. We've seen this slow n steady Bullish grind coming out of 6.4k, playing this Gann...

mrjones2020

I've been a Bear's Bear, calling for 5.4k when price was over 12k, and even I, after that 6.4k reaction took notice. In my previous Idea, I called for 7.2k to be an important area, and it was. I planned to close my Longs from the mid 6's, and I did. A) was my post regarding 7.2k, and how I'd close my Longs if we had a significant 4hr close below 7.2k. We...

mrjones2020

The answer of course is, I don't know, and neither do you. It's all about probabilities in the end, and proper risk management. Personal psychology. That boring, hard stuff. Let's be real, TA is the easy part. The fun part. The glorious part. So here we are... A) Just over a year ago, we found ourselves here. New Lows formed. People calling for 1.2-1.8k. ...