ChronicMasturTrader

ChronicMasturTrader Updated 

Don't get married to the dates. I'm not. My general expectation is that we'll see a rise to about 14-16 cents over the next month or two followed by a correction that forms a bull flag before leading into another round of serious gains. Have fun with that.

ChronicMasturTrader Updated 

If you'll notice, CRO's current support and resistance lines put it in a position to form a head and shoulders over the next few days. I'd expect a dump soon with a wick down to the 0.063 cent region. I'm looking forward to getting some 6-7 cent CRO. And no, I'm not holding mine through this slaughter. So what went wrong? CDC had to cancel all of the European MCO...

ChronicMasturTrader Updated 

We have a descending wedge in MCO demonstrating a preference for a $2.00 coin. I personally think we'll see strong support at the 3.50-3.75 region, but question whether it will hold. Poor CDC did nothing wrong and has fallen victim to the criminal actions of a traditional financial institution. On the bright side, we can upgrade our MCO Visa cards on the cheap....

ChronicMasturTrader Updated 

Welcome to Fake Out City, population us. My expectation is that Bitcoin is going to spend the day trending upwards despite popular demand. I'm expecting that we will be testing at least the 9250 level and possibly as high as the 9350 level. We'll probably post a green candle for the day. In order to reach this conclusion I have to throw out a large number of...

ChronicMasturTrader

Here we have listed a white upwards broadening wedge dating back three months, a red downwards broadening wedge, and a large green broadening wedge. This isn't good. It does seem to be pushing Bitcoin towards the 9200-9300 region that I called for last week, and we probably will spend a lot of time in that area thanks to these colliding pressures. Not all of these...

ChronicMasturTrader

My target is the 14-15 dollar range and I do expect it to hit that range within two weeks.

ChronicMasturTrader Updated 

Long story short, a close on the weekly candle over 9500 doesn't reset the TD Sequential and leaves us with at least one indicator that is not bullish on the long term, so we want to stay under that to avoid going sideways. We want to avoid setting a lower low, because that means we may move back into Mom's basement and live on Ramen. I have kids, okay? I mean, I...

ChronicMasturTrader Updated 

There's recurring downward pressure coming from that area circled in purple. I expect it to dictate wave formation throughout the day. I'd suspect a couple of bull traps over the next few days to induce volatility in an otherwise sleepy market. If I were to guess, I'd say we're going to test 9500 resistance in an attempt to enter the down channel tomorrow, but am...

ChronicMasturTrader Updated 

If this downchannel continues, we can break out at anywhere. Notable support lines exist at 9600, 9500, 9300, and I suspect that support after that is paper thin. If we drop under 9200, I expect a trip to the high 8000's. 8800 or 8900. The further we fall, the steeper the recovery should be. If we break out early, I expect a boring day. A correction is needed. We...

ChronicMasturTrader Updated 

Potential downward channel on BTC. I don't think it's likely, but it is something to keep your eyes on.

ChronicMasturTrader Updated 

There's so much in play right now that it's difficult (for me) to weigh the various wedges, patterns, supports and resistances. What I'm seeing is enough volatility to trade, but not enough momentum to pick a macro direction. The different time scales are all over the map. Expect the tide to turn several times today. I get the impression that we will be squeezed...

ChronicMasturTrader Updated 

The wedge broke downward today, forming a "new" wedge. Let's get the point. I see two possibilities and one probable event. We will probably trend sideways through the rest of today. The question is whether we're going to resume dumping tomorrow or begin printing a recovery. This was a decent correction. A slightly bigger dump would be better. C'mon, bitcoin,...

ChronicMasturTrader Updated 

I'm a bull, but to chart responsibly, I've decided to begin documenting my bullish and bearish calls. We keep hitting our heads on that purple resistance line and we're not dropping below the green support line in any meaningful ways. If you check the charts for alts that look like they're prepping to moon, what you'll see is that their momentum is dying. Bitcoin...

ChronicMasturTrader

We're looking at the daily chart. Imagine that instead of crashing in March this year, we'd gone sideways around the 10th instead. Once you put that recovery line back on the level it was meant to be on, it becomes clear that we were supposed to enter into a sideways market. Even crashing didn't stop these same formations from repeating in the same order. I don't...

ChronicMasturTrader Updated 

While using Luna Owl's "Bottoms and Tops range" indicator to scalp, I noticed on the daily chart that we are currently in a tops range we've only entered into once before (on the chart I have access to). That one other time was March 24th-25th of 2019. I pulled up the 4 hour chart and compared it against today's 4 hour chart. History isn't repeating itself, but it...

ChronicMasturTrader

The chart and title say it all. Bear flag sprouts head and shoulders on the daily chart. I look forward to shorting this one. The only question in my mind is whether we'll see any sort of bounce off of support or blow right through it. I'm not seeing why we can't have an 10-13 dollar GM stock at some point next month.

ChronicMasturTrader Updated 

What I'm seeing are very early signs of a likely down channel. I don't think it comes into play for a while. We'll probably bounce around in the circled white area for a while until fully forming either our bear flag or our bear pennant, and then drop. The steep downward line is where I've been expecting that potential drop. We'll hit several support levels along...

ChronicMasturTrader Updated 

Earlier I published my assumptions on the bearish and bullish expectations. Then we began printing a convincing bear pennant. I think we'll follow my green squigglies for a bit and then figure out an inconvenient time to crash more.