1BigPapi

1BigPapi May 13, 2023

Convincing breakout for $PEPE. But took a lot of highly advertised big buys to recover this support, saw posts across Twitter talking about these big buys - obviously whales wanted to try and set a floor here. If it holds through the weekend close, we might see some nice upside over the next week.

1BigPapi May 12, 2023

24-hour update: the (short term bearish) scenario played out as predicted, so far. Bitcoin lost the March support, and logged a retrace & moderate bounce to around $26,000. There is a scenario where this holds as support, but my bias is towards a little more downside. The $25,000 range is a spicy confluence of support with key fibs, February highs, and 20/21w...

1BigPapi May 11, 2023

Bitcoin short term bearish possibility: We see a full rejection from upper value range, retrace to the 50% fib; this correlates with February highs and key moving averages (20w SMA, 21w EMA). I think this is the healthiest move for bulls, they can refuel for another charge at $30k resistance

1BigPapi May 5, 2023

Comparing two charts: 1. DXY bearish bias at a critical resistance-flipped-support that signaled year+ downside when lost 7x in the past. 2. BTC bullish bias at 2021 key support-flipped-resistance for the past month. While I think this shows a clear direction for both, I don't personally expect new highs for Bitcoin in 2023. I think the trend either 1.)...

1BigPapi May 5, 2023

Comparing two charts: 1. TVC:DXY : bearish bias at a critical resistance-flipped-support that signaled year+ downside when lost 7x in the past. 2. CRYPTOCAP:BTC : bullish bias at 2021 key support-flipped-resistance for the past month.

1BigPapi Apr 26, 2023

Note this is the BTC/M2 Money Supply adjusted chart. We got a nice green BTC candle, but are still fighting a key resistance . A few outcomes: 1. retrace & bullish consolidation > FWB:27K 2. healthy retrace to 38 fib or 50 fib & 20/21w MAs 3. bullish breakout [weekly close > FWB:31K ] 4. bearish breakdown [weekly close < FWB:23K ]

1BigPapi Updated  Apr 21, 2023

Its hard to accurately chart a semi-liquid post-parabolic memecoin, but it looks like a major decision point incoming. If major bids don't show up soon, it will drop down to retest the horizontal support, and failing that lead to a breakout to the downside. However a small downsize move below support could confirm a flag and leads to a nice rally if it taps a...

1BigPapi Apr 8, 2023

The US Dollar Index (DXY) is still flirting with a historically bearish level and momentum. JPOW has to come out swinging this week during the FOMC to save DXY 101/2 level. Remember, generally speaking DXY down = BTC up. In the past 30 years, the DXY was rejected along the red line (~101), signaling larger downside moves. Given the recent parabola and retreat by...

1BigPapi Apr 8, 2023

Week 4 for Bitcoin consolidation under a key level from the past cycle. My bias is to the upside in Q2, but clarity comes with this week's economic data . The US Dollar Index (DXY) is still flirting with a historically bearish level and momentum. JPOW has to come out swinging to save 101/2. Remember, generally speaking DXY down = BTC up.

1BigPapi Apr 4, 2023

We are very close to escaping the darkest depths of the bear market. JUN-22 hammered crypto. Bitcoin lost critical support at $30k and dropped 45%; Ethereum fell under $1k. Fast forward to Q1 to Q2 2023, Bitcoin is flirting with $30k; Ethereum is at nearly $1900. If bulls recover $30k it gets spicy.. that leads to the next value range towards $40k. Not to say...

1BigPapi Mar 19, 2023

Bitcoin was in an ascending channel for 4 months, since the FTX meltdown. If the weekly close is over $27k, it finally escapes the channel. This will start a new trend; with targets as high as mid $30s. Rejection will retest lower range of value gap ($25.2k) to lower $20s.

1BigPapi Mar 17, 2023

On higher timeframes, extending from Nov-22, BTC is in a bearish pattern (channel, possibly flag). Currently at the top of that channel, from Jan-Mar BTC drew a continuation pattern (expanding wedge ), between $20k-25k. The weekly close is super important, bulls want to close over $27k, escaping the ascending channel to begin a new trend. But a rejection can...

1BigPapi Mar 13, 2023

A quick scan of Bitcoin momentum and structure suggests we might top out between $23k and $25k locally. There is still anxiety and uncertainty in markets. I think we need clearer guidance from the Treasury and Fed to recover $25k. Until then, a sideways between $20k and $25 remains my thesis, with intraweek wicks beyond that possible. A weekly close over $25k...

1BigPapi Mar 9, 2023

Bitcoin is returning home, as it drops to a historical demand range between $20.6k and $21.3k. This is a great litmus test for bulls, to see if the demand is still there. 𝗪𝗵𝘆 𝗶𝘀 𝗽𝗿𝗶𝗰𝗲 𝗱𝗼𝘄𝗻? Inconsistent economic data is spooking investors, and other news events (some might say FUD) like Silvergate or Mt. Gox, are amplifying those fears. Also the higher timeframe...

1BigPapi Mar 5, 2023

Bitcoin has people sweating. The fud last week was excessive, in my opinion. You see that sometimes, its a good stress test for crypto. That said, some of the concerns are valid and deserve to be monitored, like the Silvergate news and ongoing SEC drama. But back to the chart - BTC tapped a local diagonal support extending from mid January, around ~$22k. A rally...

1BigPapi Updated  Feb 25, 2023

Last week we called the following levels, with the value gap overhead acting as resistance. "Resistance: $24.3k, $29k, $30k Support: $24.2k, $22.8k, $21.7k, $20k" It turned out that $24.3k was the right call, being the bottom of the value gap it rejected Bitcoin for the second time since last summer. With that rejection, bulls are forced to retreat and we we...

1BigPapi Feb 23, 2023

The value gap still acting as resistance. Part of me wants a stronger rejection so I can get a good DCA entry.. .. but 2/3 of retracements past 90 days were bullish, and while momentum indicates some exhaustion on lower timeframes, thats not the only factor. The ideal scenario for bulls is a swing down to ~22.9k before rallying for another shot at penetrating...

1BigPapi Feb 23, 2023

February was a month of moderate recovery for the US Dollar Index (DXY). After an incredible rally through 2022, peaking in Q4 at 114.7, the DXY began retracing to a critical level below 101.7. Historically (7 times) closing below the 101.7 level signaled larger drops for DXY. It narrowly dodged that fate with a solid bounce and February rally back to...