rich_horse

rich_horse

1. Bitcoin is back in the old down trend channel and showing resistance at the equilibrium, price range at the top of the channel is $9400-$9500 2. BTC is forming an ascending triangle 3. RSI is climbing very nicely The Plan: Stay in my long position from $8750's and raise stop loss from $8650 to $8900. I've been adding small amounts to position as we...

rich_horse

Bitcoin is forming a 4 hour cup and and handle, recent drop from $8980 did not break the RSI trend Line on the 4 hour. The Plan: I have fully exited my previous long position from $8450's and opened a new long position at $8750's. Will add more to position after a 4 hour close above the previous high of $8980. Stop Loss: $8650 Profit Targets $9200 $9400 $9700

rich_horse

BITCOIN is forming a falling wedge on the 4 hour with a BULLISH DIVERGENCE on the RSI. The plan: I am currently in a long from $8450 take profit $8800, $9200 stop loss $8250 Leverage 5x

rich_horse

BTC appears to have found a new support and looks for a bounce back to the $9500 and possibly the $9800 range. 4 hour RSI bouncing from slightly oversold area, volume has been declining. The plan: I am not in a long, currently out of my short position and waiting to short anything above the equilibrium to the top of the channel once again until the trend is...

rich_horse

I have pointed out several trend lines that I've been watching closely, they have worked great so far. The most significant one in my opinion is the red trend line because it has more history. I think a drop to test the 50 week MA is the best bullish thing that can happen before we can test the previous high of $14,000 before the halving, and most likely a drop...

rich_horse

BTC is still in this channel, the down trend should continue after the weekend as we get a push towards the equilibrium $9600. Any push to the top should be shorted in my opinion with a SL set at $10375.

rich_horse Updated 

After the massive drop we have been mostly trading above the equilibrium of the channel with the RSI steadily climbing on the one hour, we have also been consolidation above previous support of the yellow box. If we do not break the RSI trend line we could push up to the $9900 region which is the top of the purple box before we see a pull back. (any longs should...

rich_horse

Tezos will most likely fall to the .382 to .5 fib before a short term bounce, keep in mind that the weekly RSI is at 82 so a retrace to the .618 fib is very possible and will make a fantastic buying opportunity. Tezos is an extremely hyped project but has a long way to go, good things happen to patient traders. Happy trading everyone.

rich_horse

In about 3 weeks the 50 week MA will be at the .382 fib level. We might see a slow grind down to the $8900 level and rip to the upside before the halving while the masses wait for the gap @ the mid $8k to fill, which may never happen.

rich_horse Updated 

BTC forming a descending triangle on the hourly, the rsi is forming a bullish divergence however, a break below the rsi trend line could lead to more possible downside to the $9250, then a possible bounce back.

rich_horse

With open interest so high and the majority of the traders thinking we are going to the moon because of the golden cross, we could actually do the opposite and trade slowly in this channel all the way down to the $8600's in the purple box. Show some love if you agree with me how the market might punish the bulls.

rich_horse

BTC is unable to close above the trend line on the hourly, we might get a push down to the $9800 level.

rich_horse

Clear break of the previous swing high on the low time frame with 2 hourly candles closing above, and break above channel shows great signs that BTC is going to retest the previous highs of $10,500 and set new highs at the .618 fib at $11,000. There will be some chop as the market is still uncertain, stay strong!

rich_horse

BTC has been stagnant for almost a week after the break to the upside, with no follow through. Given the market sentiment, this is a good opportunity to put in a short with a tight stop loss for huge potential gains. entry $8300s stop loss $8500.

rich_horse

Bullish divergence on the daily RSI is a good indicator to take profits on the shorts.

rich_horse

The hourly is tightening.... watch out for a breakout with in the new few hours.

rich_horse

rejection on the hourly up channel

rich_horse

BTC failed to close above the equilibrium on the down trend channel, don't chase the pumps. more down side to come in the next few days.