King_of_Extremistan

King_of_Extremistan Updated 

This reverse h&s breakout gives me more reason to stay long and add more on a re-test of the neckline which will probably happen after 14000. Note that this formation is 11 months long so will take a while to play out.

King_of_Extremistan Updated 

On the log chart, BTCUSD has held for over a month above the long-term trend line drawn between the June 2019 and February 2020 high. Many people seem to be at odds as to whether this support needs to be validated on the non- log chart by testing support at the 8200 to 8400 level; however all drops below 9000 have been bought up very quickly for over two months...

King_of_Extremistan Updated 

Bitcoin breakout above key resistance at around 6700 is imminent. It actually already broke through but had to go back down and touch support at around 6480 before moving back up. It filled my bids at around 6480. If it stays above that yellow line and closes a 4 hour candle before the weekend, it will be smooth sailing from here on out. If it doesn't do that,...

King_of_Extremistan Updated 

BTC looks set to breach the upper boundary of a triangle that has been forming since exploding down to 3700 last week. It should get back up to 9000 relatively quickly if it can stay above 6400 for a reasonable amount of time (meaning, closed daily or 4 hour candles above). If it breaches the lower boundary instead, I will be placing limit orders for sub $1000. ...

King_of_Extremistan Updated 

Possible Ascending Triangle formation is violated now and has mutated into a Double Top in the making. If it breaks through 4800 to 5000 range, then a retest of the local lows at 4500 and 3700 might be in the cards over the next week. It could even go lower than 3700. Only thing that can be said now with any degree of certainty is that the weekly will most likely...

King_of_Extremistan Updated 

Bitcoin is now out of the channel that brought it from 7200 to 3600 in less than 48 hours. Hopefully it will not go back into that channel, because that would mean sub 3K.

King_of_Extremistan

For the benefit of anyone who is still trying to buy Bitcoin, the Daily candle closed just above an important Multi-Year Support. A lot of false moves so far where important support gets broken, which is why it is all the more critical that this trendline precedes the CME futures. The selling seems to have been institutional investor driven, because it followed...

King_of_Extremistan Updated 

I am looking to buy Lisk at 61.8% Fibonacci Retracement of LSKBTC. From there it will retest the local high and most likely go higher, if for no other reason than that we are at the cusp of a crypto bull market.

King_of_Extremistan Updated 

Bitcoin is likely to retest and break through the top of the Ascending Triangle formation before the 3rd Halvening Event some time in May. There are 2 possible scenarios which can play out over the next few weeks: the multi-week support trend line may either hold until the top is reached, or it may be broken in which case a close of the CME gap at 8,560 USD would...

King_of_Extremistan Updated 

Stellar Lumen broke out and found support above the ascending triangle it had been forming for several weeks against Bitcoin. Risk reward ratio on XLMBTC looks very promising but there does seem to be a tendency for Stellar Lumen to make crazy parabolic moves only to come back down. Definitely will need to look out for that. Overall though this should...

King_of_Extremistan

Total Crypto Market Cap Reached 300 Billion USD today (February 13, 2020) for the first time since summer 2019. There's still some upside left before hitting resistance at the high during summer 2019, where I suspect it will power through. The volume that is accompanying this bull cycle is proof positive that this is the real deal. Outlook on the total crypto...

King_of_Extremistan Updated 

The long term bull case for BTC is stronger than ever. My strategy is to keep buying the dips and use support/resistance levels in the long term fibonacci retracement along with NVD and Eliot-Wave convergences as buy/sell signals. Seeing as we are still at the bottom of this channel and the channel bottom has held for the past 5 years now, this is a decent time...

King_of_Extremistan Updated 

Ethereum is rebounding against both BTC and USD. Over the past few days we saw decisive support above the 38.2% fibonacci retracement level against USD and a test of the 23.6% fibonacci retracement level against BTC. The EWO has also turned positive on the ETHUSD weekly chart. A decisive break above 23.6% on the BTC chart will provide the confluence of...

King_of_Extremistan Updated 

Factom just dipped to the 61.8% Fibonacci Retracement level on the local high. Good opportunity to get in cheap and hold until time is ripe to trade back in for BTC.