DanRoth

DanRoth Updated 

It appears the MAs are currently at play on BTC/USD weekly. That does not bode well as it appears the 50 MA is providing some fierce resistance and the 100 is not far off. Longs have a reason to be skittish while shorts take the lead. That being said this is the world of unregulated casino markets so even if BTC should retrace it likely won't...kind of like a...

DanRoth

Disclaimer: I do not know much yet. However, support and resistance come intuitively to me, as I'm sure it does for most of you. That being said, this published idea is just my under-educated thought and should not be taken as investment advice. POLONIEX:ETHBTC I used a fib retracement in reverse, tracing what I believe to be the 4th wave up to look for where...

DanRoth Updated 

Firstly, we see in this chart that buyer pressure is much higher than selling pressure at this juncture. We are in a critical space where shorts should have easily broken the barrier but they barely grazed it. As you can see RSI is holding strong and stable through this "dump." Volume is a bit low, but that's how it is before the surge of buyers see money pouring...

DanRoth Updated 

I am just learning. With Elliott Waves we must break the B leg before we can call it a new wave. We never broke the 300 barrier and volume was fairly insubstantial. Not sure but I think we must retrace a bit more before a rush of buyers come in for the leg 1 of a new wave. I am neutral for the time being. Nevertheless, I am going to take a trade near the 200...

DanRoth

We couldn't break 300 and the reason is clear. Volume is low af. If that was leg one of a new wave it was hella weak. Where are all the buyers at? Waiting or shorting. The Eye of Sauron looks down upon us and forces us into the nether worlds of the 200 zone. When we reach that level buyers will rush like mad at those prices. then we get exhausted, but people...

DanRoth

We recently broke a major pennant (triangle). However, that break occurred in a nasty zone. Will we break up or down? I have a strong belief that the former downtrend line from the 36 high will act as firm support in any downward move, whereas the current demand line is weak at best and will likely provide little resistance in a breakout. That being said, I...