Bitcoin Daily Update (day 234)
I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business.
My most recent Bitcoin Bubble Comparison - 3 Day Chart led to the following calls: < $5,750 by 11/15/2018 & my prediction for the bottom is $2,718 by 1/20/19 | | Calling for $35 ETH before the end of 2018. Previous analysis / position: “The current price is $6,408 and I expect that combination of support [4h TD’ Sequential and Stochastic] to provide a bounce to $6,428.” / Short USDT:USD from 0.968
Patterns: Descending triangle
Horizontal support and resistance: S: $6,394 | R: $6,415
BTCUSDSHORTS: Testing bottom of triangle
Funding Rates: Longs pay shorts 0.01%
Short term trend (4 day MA): Bear
Medium term trend (4 week MA): Bear
Long term trend ( 32 Week): Bear
Overall trend: All trends are in agreement, however short and medium are within a c hair of flipping
Volume: Just noticed that you can draw a trendline on the volume moving average. The trendline broke in the middle of September and that could have indicated the upcoming low volume chop.
FIB’s: 0.618 = $6,530 | 0.5 = $6,441 | 0.382 = $6,351
Candlestick analysis: Daily candles are as follows: shooting star, inverted dragonfly, hanging man. All indicate a reversal to the downside
Ichimoku Cloud: Most of the clouds are in agreement and indicate a bear trend (1h - 1w)
TD’ Sequential: Most time frame are flipping back and forth due to the chop. Weekly red 3 falls below red 2 at $6,132
Visible Range: Looking back to September 6th' (when this range started) point of control at $6,400 and two high volume nodes from $6,386 - $6,464
Price action: 24h: +0.005% | 2w: +4.01% | 1m: -4.47%
Bollinger Bands: Daily has closed below MA for 14 straight days
Trendline: 1h-4h charts are fitting into a bear trend and the top end is currently being challenged
Daily Trend: Chop
Fractals: Up: $6,792 | Down: $6,057
RSI: Stuck at 50 on most time frames
Stochastic: Starting to diverge from 4h buy signal while 1h is pulling back from a sell. Interesting how 3d stoch is bouncing/diverging while price goes nowhere
Summary: The price has fit into a trend (that can be seen on 1h and 4h charts) over the past 36 hours and the top end of that channel is currently being challenged. If this 4h candle closes above that trendline, which sits at $6,400, then I would expect a retest of the horizontal resistance at $6,445 - $6,464. If not then it should retest the bottom of the trend at $6,350.
I’m not sure how much less interesting this price action can get and I am afraid to ask. The gods of volatility are frowning on us all. What do we need to offer as sacrifice?
USDT, BCH, Ripple the Standard...take them all!!! Just please return the volatility that we have all become so addicted to. Both financially and emotionally. I’ve been to a fire ceremony, I have contributed poetry, I have danced for rain and still I wait. Waiting for the new higher high or lower low to spark the next wave of euphoria or despair.
Until then I will continue sacrificing, dancing and soul searching. No amount of TA can save us while Bitcoin' is stuck in a range of < $50!!!
I spent 2 hours with my spiritual guru/mentor this afternoon and she gifted me an essence that is meant for (among other things): being chronically tired from overwork and poor energy management. When lifestyle and work habits aren’t nourishing my physical body. Healing imprints of betrayal and bringing physical richness into our lives.
It may feel like Bitcoin' is betraying us with the lack of volatility but the bottom line is that she does not owe us anything. While it remains dormant I will focus on awakening my spirit and harnessing my 6th' sense to predict what the indicators cannot!!!
My most recent Bitcoin Bubble Comparison - 3 Day Chart led to the following calls: < $5,750 by 11/15/2018 & my prediction for the bottom is $2,718 by 1/20/19 | | Calling for $35 ETH before the end of 2018. Previous analysis / position: “The current price is $6,408 and I expect that combination of support [4h TD’ Sequential and Stochastic] to provide a bounce to $6,428.” / Short USDT:USD from 0.968
Patterns: Descending triangle
Horizontal support and resistance: S: $6,394 | R: $6,415
BTCUSDSHORTS: Testing bottom of triangle
Funding Rates: Longs pay shorts 0.01%
Short term trend (4 day MA): Bear
Medium term trend (4 week MA): Bear
Long term trend ( 32 Week): Bear
Overall trend: All trends are in agreement, however short and medium are within a c hair of flipping
Volume: Just noticed that you can draw a trendline on the volume moving average. The trendline broke in the middle of September and that could have indicated the upcoming low volume chop.
FIB’s: 0.618 = $6,530 | 0.5 = $6,441 | 0.382 = $6,351
Candlestick analysis: Daily candles are as follows: shooting star, inverted dragonfly, hanging man. All indicate a reversal to the downside
Ichimoku Cloud: Most of the clouds are in agreement and indicate a bear trend (1h - 1w)
TD’ Sequential: Most time frame are flipping back and forth due to the chop. Weekly red 3 falls below red 2 at $6,132
Visible Range: Looking back to September 6th' (when this range started) point of control at $6,400 and two high volume nodes from $6,386 - $6,464
Price action: 24h: +0.005% | 2w: +4.01% | 1m: -4.47%
Bollinger Bands: Daily has closed below MA for 14 straight days
Trendline: 1h-4h charts are fitting into a bear trend and the top end is currently being challenged
Daily Trend: Chop
Fractals: Up: $6,792 | Down: $6,057
RSI: Stuck at 50 on most time frames
Stochastic: Starting to diverge from 4h buy signal while 1h is pulling back from a sell. Interesting how 3d stoch is bouncing/diverging while price goes nowhere
Summary: The price has fit into a trend (that can be seen on 1h and 4h charts) over the past 36 hours and the top end of that channel is currently being challenged. If this 4h candle closes above that trendline, which sits at $6,400, then I would expect a retest of the horizontal resistance at $6,445 - $6,464. If not then it should retest the bottom of the trend at $6,350.
I’m not sure how much less interesting this price action can get and I am afraid to ask. The gods of volatility are frowning on us all. What do we need to offer as sacrifice?
USDT, BCH, Ripple the Standard...take them all!!! Just please return the volatility that we have all become so addicted to. Both financially and emotionally. I’ve been to a fire ceremony, I have contributed poetry, I have danced for rain and still I wait. Waiting for the new higher high or lower low to spark the next wave of euphoria or despair.
Until then I will continue sacrificing, dancing and soul searching. No amount of TA can save us while Bitcoin' is stuck in a range of < $50!!!
I spent 2 hours with my spiritual guru/mentor this afternoon and she gifted me an essence that is meant for (among other things): being chronically tired from overwork and poor energy management. When lifestyle and work habits aren’t nourishing my physical body. Healing imprints of betrayal and bringing physical richness into our lives.
It may feel like Bitcoin' is betraying us with the lack of volatility but the bottom line is that she does not owe us anything. While it remains dormant I will focus on awakening my spirit and harnessing my 6th' sense to predict what the indicators cannot!!!
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
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