cheretic

cheretic

The BTC weekly chart shows that we have arrived again at the level of the previous 2017 cycle highs. Only this time we are also meeting the long-term upward trend line that goes back deep into 2013 and has never been broken. Also, we have a bullish divergence on the weekly RSI. Things are about to get better or REALLY worse for crypto holders. Good luck

cheretic

Is anyone talking about the amount of long interest there is on BTC at the moment? What should we make of this?

cheretic

It looks like BTC has just printed a new higher high and higher low on the weekly chart. So I thought Id see what might be going on on the monthly chart. I think there's a good case to be made for this 'crypto crash' being a wave 4 of a larger wave 3 impulse. Last wave 5 surpassed the 4.618 fib extension. If this repeats we will be well above $200k BTC for...

cheretic Updated 

Seen this pattern play out before! BTC trading in a large rising wedge. Expecting a short pump followed by a big sell off. I'll be selling into the euphoria and taking some risk away so I can buy the fear a bit later. Then should commence a rally for the final wave 5 towards the end of the year. See you around $30K BTC

cheretic

BTC has pushed higher out of its rising wedge and is forming a small bull flag with a target of 100k. Could it really happen this year?!

cheretic Updated 

BTC fever is taking hold again. Will ETH moon, or will it fall out of its massive rising wedge and complete a larger ABC correction? We should find out by years end. The 50% fib looks like the line in the sand. If we break above and out of the rising wedge, price can move quickly to the top of the rising channel in blue, between $1700 and the 1.68 around...

cheretic

This is the chart for the total crypto market cap. Overlayed in orange is the SPX which is the top 500 US companies. Currently the value of the SPX is >170% of US GDP. According to Warren Buffet, anything over 135% is 'Significantly overvalued' and Buffet has been offloading much of his stocks and sitting in cash. (read more here: www.gurufocus.com ). The...

cheretic

Serious Bollinger squeeze occurring on the BTC daily. Large move expected soon. Could go either way. Most likely downwards, Stock markets seem most likely to fall and take crypto with it. I seriously doubt that people will consider BTC a safe haven in a financial meltdown. Having said that, it only takes a few whales to move into the crypto sphere to see the...

cheretic

BTC technicals lining up for a sell-off. Struggling with long term downside resistance (yellow line) and forming a rising wedge pattern. Strong RSi diversion signalling weakness. A close above 10400 would create a higher high above resistance and invalidate the downside setup. News of recessions starting to air. US stock market could surprise us with a...

cheretic

2 potential patterns are setting up to return BTC to All-time highs and beyond. Within the triangle we are currently at the neckline of a cup and handle (see ABC&D) that, with a weekly close above, has a target back around ATH. A breakdown from here will see us working on a potential Elliot triangle wave E. The theory suggests this should break below the...

cheretic

Daily death cross and a bear flag in the shape of a rising wedge. Likely wave C of larger ABC correction. Dont shoot the messenger.

cheretic Updated 

Argument for Boom... - whales can manipulate on low volume and cause a fomo rally - Support of weekly 70 ema (I use 70 as bitcoin trades 7 days a week) - nice bounce from .618 retracement of recent pullback - most recent price action moving in bull flag with target $20k + - market in overall weekly uptrend Argument for bust... - low volume and hype surrounding...

cheretic Updated 

ETH price broken below parallel channel, both daily EMA's and is forming a bearish flag that could take us all the way back to the $80's Small inverse head and shoulders could provide a bear trap move back to $270 region before the move downwards. There is definately potential that we have just completed wave 4 of a downwards impluse and could be starting wave...

cheretic Updated 

When Charlie lee sold his Litecoin he spoke of a multi year bear market. BTC broke a downward trendline (not the first time) and everyone was waiting for a little volume to jump in balls deep. Enter the whales and here we have our pump. Have the fundamentals changed in any significant way? A weekly close above $180 voids this idea. Until then I remain with...

cheretic

Looking for a bounce between 137 and 135 to go long. Could well start a large rally above $150 Failure of supports at 135 means short.

cheretic

BTC Price has failed 3 times now at the W200ema. With the last lackluster attempt apparently running on fumes. We are getting very near to a major downtrend line and, as I'm seeing no real fundamental changes in Bitcoin, I would imagine the Bears will return again soon, taking the rest of the market down with it. I am also watching the BTC Longs vs Shorts....

cheretic Updated 

So apparently past patterns can repeat again. Well I have found one on BTSBTC that seems to be working out like the same time in 2016. It started by finding a curving bottom and I wanted to see if that resulted in a rally. Examples will follow below. So anyway we broke out of a falling wedge to the 70 ema. Now I expect a touch of the curving yellow line...

cheretic

As long as we do not trade above $4400 I think this is a likely outcome. Low on August 1st. Lets see if it works out ;)