The_Real_AMF

The_Real_AMF

Yes, I am bullish on BITCOIN (and have been for some time). Please consult the chart and prior ideas for my reasoning.

The_Real_AMF

BTC is nicely following the proposed path. Encountering some supply overhead. Don't be surprised if we take a dip to demand levels below. Stick with it.

The_Real_AMF

ETH seems to be presenting a similar pattern to July 20th, 2021 (see pink circle).has reclaimed its MAs. and the RSI is above 50. Another encouraging factor is that price has approached the upper 1D Bollinger band. If this is a strong trend, as MACD seems to support/confirm, we could see ETH climb and extend above the Bollinger band to old supply at ~3950 and...

The_Real_AMF

Everyone wants lower but will BTC actually give bulls a discount? Probably not. Yes, the chart is a mess, but if you have been following and look closely, everything is there for a reason. Those telling you to sell and wait are missing a golden opportunity to add to longs right now.

The_Real_AMF

Chart says it all. ETH and BTC look to be putting in 4th waves and should resume their uptrends shortly. More sideways or a lower low wouldn't be surprising.

The_Real_AMF

Still nothing alarming. We tested the median line of the upward sloping pitchfork only to drop down to the lower rung and median line of our major upward sloping pitch fork. Price should waffle around for a while as we digest this news/level after which price should resume the upwards trek.

The_Real_AMF

BTC continues to follow the projected path. Long within the upward sloping pitchfork.

The_Real_AMF Updated 

BTC has cleared the downward sloping median line and is looking to ascend higher, as predicted months ago.

The_Real_AMF Updated 

Looks to me like BTC wants to play in the downward sloping median line. The pink circled upper rung of the pitchfork seems to be providing resistance, for now. While I am bullish overall, I will not be surprised if BTC follows the pink path and trends down to test the median line and/or bottom rung. Lets see what happens in the next few days!

The_Real_AMF

Please see prior posts for how this move has been developing. Be wary of the downward sloping Median Line that has clearly exhibited overhead resistance. The drawn path in red is a fun WAG (wild a** guess) projection, but something that I could envision happening before BTC continues the trek to ATHs. Like and comment if you find these ideas helpful. Thanks!

The_Real_AMF Updated 

BTC traders should be aware of overhead resistance from the descending median line as well as potential resistance (prior support) at 47004. Do not be surprised if BTC should move sideways before resuming its trek north. Trend is still up.

The_Real_AMF Updated 

Price is still riding the 1.5 STD of the 20 day moving average up up up and away. On the weekly time frame, price is grappling and trying to clear the 20 day moving average (on a weekly time frame). A continued move higher to the weekly 1.5 STD of the 20 day could be quite powerful.

The_Real_AMF

Greetings. BTC could be starting a new, very strong trend targeting 56,xxx resistance and higher . Why do I say this? Take a look at the past times price has ridden up the 1.5 standard deviation of the 20 day moving average. This indicates a strong market. For your reference, I have included two such past fractals with different relative slopes in red and...

The_Real_AMF

Gradarius Firmus Victoria (Little Steps Towards Victory) - Still progressing nicely

The_Real_AMF Updated 

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The_Real_AMF

Place your bets. Price is at a major point of control and has created an expanding megaphone with potential for price to test the top after clearing 56381. The former is contingent upon price closing and holding above 37000.

The_Real_AMF Updated 

Pitchfork continues to work well. Where to next?

The_Real_AMF

Median lines, or "Andrew's Pitchfork" and its variants are a powerful tool to analyze any instrument. Find any pivot H-L-H (high-low-high) or L-H-L (low-high-low) and project your median line forward. The path that BTC has been tracing was projected some time ago. Try it out.