tired_man_willis

tired_man_willis Updated 

Bitcoin looks like it was going down this channel and has done a nice V-shaped reversal. If you're playing the bounce I'd monitor Volume, the RSI and Exponential resistance/support. $11,130 is the 22 EMA so I expect a push up to that and depending on volume can see Bitcoin making another push for $12k. Keep in mind that longing in this area is risky so it's best...

tired_man_willis Updated 

There's multiple realistic options that I can see happening but these two are what I'll be looking at. We bounce off the 22 EMA go for a retest of the short term top. We will see either a rejection (red) or bull break (yellow) with bulls targeting the meme number of $15k. From there it's anyone's guess as to what will happen. Personally, I feel a consolidation...

tired_man_willis

Bitcoin looks to be forming one on the Daily. Entering a short and aiming for the neckline around $7600

tired_man_willis

TLDR: Bitcoin will possibly retest $8400 before going to test the higher lows of $6k. Trading Concept of the Day: Highs and Lows. In technical analysis , it is the overall direction of these highs and lows that constitute a trend. An uptrend is classified as a series of higher highs and higher lows, while a downtrend consists of lower lows and lower highs. For...

tired_man_willis

- Bitcoin failed to break resistance between $4050 - $4150. I was stopped out and redid my chart. - The chart now shows a range between the lowest and highest point. I believe we will retest the lows around the 200 MA. - If there is a reversal, I believe it'll be in the form of a Double Bottom and is the strategy I was going to employ if we failed to break. -...

tired_man_willis

Analysis - RSI is healthy - MACD is healthy - Volume is good. - Market Sentiment is bullish but a little skeptical (from what I read in chatrooms and forums) Bull Scenario - The Bull Flag on the Daily breaks to the upside thereby validating the large iH&S. Bear Scenario - If we break the Lower Highs on the 1hr, and 4hr, check the Daily ($3755), that'll be the...

tired_man_willis

Ascending Triangle = Bullish formation You can wait for the breakout and trade that or load up here with tight stops under the previous higher low.

tired_man_willis

Looking at the Daily, I'm seeing a possible Inverted H&S (Bull Reversal) in the works. This will take about a week or so to confirm and MAY NOT happen. Keep yes on the next few days especially if you're short. Currently, I'm short with my target being within $75 of the Left Shoulder's lowest peak.

tired_man_willis

Looks like the S&P 500 is completing the 5th wave. The bull market couldn't last forever and I feel as if the bears will come down hard in a self-fulfilling prophecy. Proshares Ultra Short is looking mighty attractive right now.

tired_man_willis

Bitcoin bulls showed up today and the "Falling Wedge" on the Daily has played out. That said, we have bullish divergence on the 3Day RSI . A retest of the 10 EMA would have us around $3850. If the volume starts to pick up I can see us retesting $4k. Until then, keep eyes on since short positions are still near ATH's.

tired_man_willis Updated 

Possible 4hr H&S. Neckline is $3300. Shorting is slightly risky since we won't know if it holds. Volume overall is weak at the moment.

tired_man_willis Updated 

Forming a Double Bottom on the Daily???

tired_man_willis

Bitcoin failed to break out again and it looks like we have a double top. Will be confirmed if we break the neckline.

tired_man_willis Updated 

Analysis - RSI is looking bullish - Increasing Bull Volume/Decreasing Bear Volume - MACD is bullish Target is the 24 EMA on the 4hr chart. A break above $4200 would be a short term reversal.

tired_man_willis

Analysis - Volume is looking good for the bulls, though it needs an increase as it creeps up - MACD is still flat but flipping bullish. - We are making HIGHER LOW'S while the resistance is pretty obvious. I wouldn't be surprised if we pull-back to retest that bottom trendline. As long as Bitcoin grinds up against it, we are in the clear. Bakkt news is due out...

tired_man_willis

www.investopedia.com :D

tired_man_willis

Been a slow month for crypto and I've been out of position just waiting for the trade to come to me. I'm sticking to playing the overbought/oversold bounces. My target is the 12/24 EMA which is roughly between $6360 - $6440. The sooner it moves there the better since as time goes on it'll just get closer to where we are now. I'm also in a small ETH Long from $194...

tired_man_willis

Weekly Bitcoin Update Analysis - Nothing much to say to be quite honest due to the lack of volume and volatility.Bitcoin has been just ranging in the low $6 - Bitcoin has broken through the short term trendline and was rejected at the 24 EMA. - The Weekly chart actually looks good and I can see Bitcoin retesting the mid-$6600s by Friday. Sidenote - Volatility...