perrynoid

perrynoid Updated 

The last time the 5 day Gaussian channel turned red and turned down, with rejection from the center trend line , BTC lost 63% of it value to the US dollar in 140 days. Price targets down to the low 20Ks and high teens would be in the cards should history repeat itself. This is not financial advice. I am not your financial advisor.

perrynoid

I decided to play around with some rarely used Fib tools to see if the process reveals any potential convergence. I'm NOT sure what it means yet. However, I noticed something interesting about this time in the market, as of the date this posting, and how it compares to 2019. I highlighted, with small red and yellow circles on the chart, where the greatest...

perrynoid

Should this play out, 66k + is the next target. I can't believe I didn't see this before! This is not financial advice. I am not your financial advisor.

perrynoid

...center trend line of the 5 day Gaussian Channel. However, if rejected, it's still in play. Ultimate bottom price after capitulation may be elevated.

perrynoid

...either price breaks through and holds support above 4800 invalidating this whole idea or, price is rejected again and capitulation becomes more likely.

perrynoid

Depending on your cost basis and investment plan, you may like to consider these possibilities. I am personally bearish , short term or, until we see a new ATH. Leading indicators to consider are: any of the top original altcoins such as, LTC or ETH and the major stock market indices like, the DJIA and S&P 500. This is not financial advice. I am not your...

perrynoid

Following a nice little dragonfly doji candle at the recent bottom, BTC seems to be poking through resistance with good RSI and Stochastic RSI momentum starting on the 3 day chart. Should we see a close above the local resistance line in the near term with support there soon after then, the next ones higher are to be watched with the biggest green light for a...

perrynoid

Since 2015 there have never appeared more that 4 red candles on the weekly chart. In fact, we have only seen 4 red candles 5 times in six years. This week is not over but, if it ends up red, next week will likely be green.

perrynoid

Provided there is a trend reversal happening after capitulation, indicated by the little dragonfly doji candle I circled in yellow then, a bull flag seems to be forming. What do you think?

perrynoid

Sometime mid September there could be a golden cross if price holds support above the 200 day MA or sooner it breaks resistance around 50k. The most recent ATH did not spike above the upper boundary of the bitcoin investment tool, as occurred in every previous market cycle top. This suggests to me that a new ATH and market cycle top is still coming and that, we...

perrynoid

have patience.... This is not financial advice. I am not your financial advisor.

perrynoid

The Higher Highs and Higher Lows, that is. IMO another higher low is needed for further confirmation of this up trend continuity. Provided that comes to pass, I expect the next significant resistance to be about the 50k level, provided we can power through the 21 weekly moving average. The NVT staying red during retracement is a very bullish sign as well. This is...

perrynoid

I looked back and carefully scanned the charts back to 2016. I could not find 10 green candles in a row anywhere before now on the daily chart! This combined with a new higher high currently being drawn is very bullish indeed. However we have a big test in front of us. Can BTC make a higher low and make this up trend official? This is not financial advice. I am...

perrynoid

the NVT went red. More needs to happen but, this is looking good for an increased possibility for the second leg up to a new ATH late this year or early next. ALT coins will outperform should this play out. Look for for a breakout above 42 to 43k to increase this possibility even more. See 44K +, and we are on our way. Expect resistance and retesting of support at...

perrynoid

IMO, 30k is the line in the sand. If it holds support then a new ATH this year or early next is possible, if not, probable. Most ALT coins should follow and likely perform better, as always. However, should price action break down below it then, it will likely add at least 6 months to a year or more of down trend; officially solidifying a bear market overall; with...

perrynoid

Price action above the 200 day MA with the 50 day MA above the 200 day means that this is still technically a bull market. A recent buy signal on the MFI for the first time since last year, combined will Bullish divergence, as well as, a bullish cross on the stochastic RSI above the 80 could mean a rally is soon incoming. Short term, my target is 33 cents. Long...

perrynoid

Price stumbled then rallied 80% from it's price at the time of the BTC Death cross in three weeks. It soon stumbled again then, rallied 120% higher than that price 5 months later. I each time it fell, the bottom was about 30% lower than price at the BTC death cross. This is not financial advice. I am not your financial advisor.

perrynoid

...Price first bottomed out 32% below the level of the cross in 8 days. It then retraced 6% higher than that, 37 days after the cross. If history repeats, expect then next local top to be between $42 and 45k. Crypto always seems to surprise but, this would be the first time we had a death cross in a bull market if we see new ATHs anytime within a year from...