DeFeye

DeFeye

Happy Monday Traders & Investors As we can see Bitcoin has been ranging within this ascending channel since over a year now. After the double top formation in the 31k to 32k area, and the break of the previous uptrend that I mentioned in my previous post. (), BTC is making it's way back down to the support of the ascending channel. There are two options as a...

DeFeye Updated 

Happy Thursday Traders & Investors Let's look at a couple of likely scenarios for Bitcoin and the key levels to keep an eye on: Option A: Bitcoin lays right on the riffled support line of the current downtrend, and could bounce to test the area around 28.500$ where the downtrend resistance lays in confluence with some major Fib. Levels of different...

DeFeye

Happy Weekend Traders & Investors 1: Starting with the key resistace line for the current range, coming from the May 12th low which is also in alignment with the 100 Day SMA (green moving average in the picture below👇) A close and confirmation above this range ( 25.000$ - 25.300$ ) would indicate further upside towards the next price target, of 28.500,...

DeFeye

Happy Wednesday Traders, Investors & Gamblers Bitcoin is currently sitting re-testing the previous resistance which is perffectly in line with the 78.6% Fib. level of the retracement from the previous rally. A bounce here is vital to continue with the higher low on the mid TFs where its also vital to continue with a higher high in order to avoid a break of the...

DeFeye

Happy Tueday Traders, Investors & Gamblers This is an update on the BTCUSD 1D chart and a follow up on my previous posts and tweets about the current trend within the ascending channel which Bitcoin has been forming since June. (See Post Below 👇) The Key area is of course the one marked in yellow between 23.850$ and 23.400$ a break above or below will...

DeFeye

Happy Weekend Traders, Investors & Gamblers Circled in Yellow you can see the LAST and ONLY time EVER, BTC had a fake-out above the 200w SMA back in August 2015. That was also the only period where Bitcoin spent multiple weeks below the 200w SMA. This is THE thing to look out for in the $BTC charts today! As you can see here below 👇, we are in a very similar...

DeFeye

Happy Weekend Traders, Investors & Gamblers Bitcoin has been testing the resistance of this descending channel (or bull flag) since my last post yesterday, from a statistical point of view, we can expect further upside here, but watch for a potential Bear trap (Plan A) or another re-test of the support (Plan B) In other words, not much has changed, so...

DeFeye

Happy Weekend Traders, Investors & Gamblers Not much to add here, apart from that Plan B right around the 22.000$ region is vital for BTC to find a bounce in, to continue with the higher low on the mid TFs which I posted about recently ( see post on Daily BTCUSD chart below 👇) or 20.000$ and the support of the ascending channel would become the next...

DeFeye

Happy Weekend Traders, Investors & Gamblers 😃 Today I will look at the key price levels and idicators above the current price range, on the weekly chart for Bitcoin, and don't worry I know there is a lot going on on that chart so I broke it all down individually below 👇 In the coming days I will look at the bearish scenario if Bitcoin was to slip below the...

DeFeye

Happy Thursday Traders, Investors & Gamblers Today I want to look at the key levels above and below us that dictate where the Bitcoin price will go in the coming days/weeks. On the daily chart we have to note the ascending channe l and then zoom in on the current trend (white dotted line) where Bitcoin is trying to confirm another H/L above the...

DeFeye Updated 

Happy Sunday Traders, Investors & Gamblers 😃 Here you can see the current trade that I entered due to the strong recovery and reclaim of the 19.300 support level from Bitcoin, after a brief crash provoked by the CPI Report. A very similar trade from my last two that I posted here: 1 from June 30th that went 19%+ 2 from July 12th where I broke even today...

DeFeye

Happy Weekend Traders, Investors & Gamblers 😃 It's all in the chart, I will break this down in a video on here tomorrow in the morning before the weekly close, an event that could at least temporarily confirm that Bitcoin is on its way up! In the video I will get into the key levels above that will confirm a long-term bullrun for btc. If you have been...

DeFeye Updated 

Happy Tuesday Traders, Investors & Gamblers 😃 If Bitcoin can confirm above 18.8950$ (Red Support Line) this formation can take us to test the range resistance and if broken take us back to the 29k-32k range (Green Resistance line )which forms resistance for a trend reversal on larger timeframes. All the relevant levels for this bullish Bitcoin scenario can be...

DeFeye Updated 

Happy Tuesday Traders, Investors & Gamblers 😃 This is basically the same trade opportunity as the last one I posted. We are targeting the range highs and if we get above those, the top of the channel. See the Related Ideas below I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor...

DeFeye Updated 

Happy Tuesday Traders, Investors & Gamblers 😃 Here I wanted to point out how important it is to prioritise horizontal lines over chart patterns an diagonal lines . It is hard to draw a trentdline sometimes if we don't have a decent amount of individual touchpoints of which we always want to have at least three to confirm the trendline . If I would have...

DeFeye

Happy Tuesday Traders, Investors & Gamblers 😃 Today I want to talk about the U.S. Dollar Index . As mentioned in a previous post a couple of weeks ago, DXY is currently at a very strong resistance in a 15 year trend visible on the monthly chart here. 1D U.S. Dollar Index (DXY) 4H U.S. Dollar Index (DXY) Here below I left it all in the charts for...

DeFeye

Hey guys, in this scenario we are assuming that we are at/near the bottom for bitcoin and are looking at the average time spent near the bottom before another uptrend. I tried to keep it as simple as possible, and it's all in the chart! I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor...

DeFeye

Happy Saturday Traders, Investors & Gamblers 😃 After hitting our price targets we are waitig for a sign from Bitcoin to see in which direction we can expect the price action to go. This is a quick update on the 4h chart looking at different confirmation levels: - Horizontal: The Green Box is our key resistance which we want to close 4h candles above in...