TheTradingParrot

TheTradingParrot

We are currently above the 3 monthly pivots. In order to confirm we are reversing the trend, at least for the short term, we need to confirm the top pivot as support. Going below the pivots could potentially invalidate the trend reversal. The current candle is the most bullish thing we have seen in the past 3 months 100% The next target is 46K which is the...

TheTradingParrot Updated 

Target 1 was reached accurately: 36.5K Now if we managed to hold the 35.2K level which is exactly the golden pocket fibonacci retracement then a bullish move to above 40K becomes more likelihood. Breaking the support box of 36.5 to 35.2K would take us to the next target which was below 33K.

TheTradingParrot

December, January and February: 3 months in a row bitcoin is getting hitting the pivots from below and making a new lower low. How long can this go without ANY decent relief rally. Today's Paypal and Meta showed horrible after hour moves, over 20% down. This should drag the NASDAQ down too. And we know what this means: BTC will move bearish or sideways base...

TheTradingParrot Updated 

In the 15min chart we can see this ascending triangle. The lower support is getting broken if we retest and fail to reenter the triangle we could go back down. Targets: - 36.5K based on volume profile, this area has big accumulation of volume to potentially hold - 32K to 33K we could retest this level too, CPR monthly support is also around that level Fakeout...

TheTradingParrot

The diagonal trend line shown in this chart shows us that this trend line is still relevant. For now we've seen it holding today. We can see that 4 times it sends us back with no mercy, including May 2021. But it's also been a catapult of price to the upside. Decisive times 100% At the moment I have a bearish short term bias so I'm going with the option of...

TheTradingParrot Updated 

The daily candle must regain the first support of the first support of the monthly CPR at 39.1K in order to be able to not signal a huge bearish signal to the market. Closing below would cause a price cascade to the second support which is located at 32K. I'm tagging this as bearish as I don't feel like we won't be able to hold 39K, this is my speculation based...

TheTradingParrot

We won’t be able to reverse the trend with the stocks markets so flaky. Focus should remain on defending the 40k support which might prove a tough one depending on the magnitude of the after hours dump on traditional markets. We have a pretty decent chance to kiss the 30s IMHO. Time to DCA with good max deviation and shop for the best performing assets at...

TheTradingParrot

We are on the day 72 of the dump. On the day 72 on 2021 we reversed to the upside. If all the "fractal boys" were right we should be getting very close to happy hour. Personally I don't feel it yet. What's your opinion?

TheTradingParrot

We've struggled BIG to turn this trendline into a support since late 2021. Breaking out this trendline could attract some looks certainly. If that that happened while we see some more significant volume then it could turn into the beginning of something. In my opinion trend reversal won't happen when everybody is getting bullish. Trend reversal is most...

TheTradingParrot

On a bear market people don't wait for a breakout of a trend, people just take profits. They don't trust a long term trend, they wait for the herd to confirm it. The 50% run we saw this week was only a quick swing trade for most smart investors. Many know that ADA needs to scale up before being able to give users a good user experience on Sundae swap. And...

TheTradingParrot

If we do a fib retracement from ATH to the local bottom of 30K we can notice that the middle top is located a 0.38 fib level. If we then do a second fib retracement but this time using the 40K local bottom and align the 0.38 with the ATH we can see that it's targeting 110K I'm not betting my life on this analysis but it's interesting to see what would happen if...

TheTradingParrot

Not the largest bullish divergence ever, but still a bullish one. Let’s see if it actually plays out as a trend reversal to the upside from now.

TheTradingParrot

This chart is the weekly support. Bitcoin weekly support has been respected as both one of the strongest supports and resistance levels (together with the weekly long term moving averages). In this chart we can see the logarithmic price establishing a support band between COVID and September 2020 correction. When this band hold, 100% of the time there's a...

TheTradingParrot

We are back inside the Keltner channel. checked! We are making a huge daily bullish hammer candle. In progress! We are above the 21 weekly EMA. What do we need next to keep the market bullish? If we make another big impulsive movement then we need a proper correction. Going parabolic would cause the cycle to end too early.

TheTradingParrot

As drawn yesterday we broke out the bearish trend line but we say we needed to test it as support. Hopefully todays candle closes above the yellow line to fully confirm the breakout. That would increase the chances of the breakout to continue to the upside. Notice that that would also produce a second bullish divergence on rsi

TheTradingParrot

Could we be about to retest this downtrend line and to the moon? We are still in a downtrend. But also bullish arguments are starting to accumulate and possibly soon out weight the bearish narrative which is already becoming boring. Short squeeze?

TheTradingParrot

Today MFI daily has reached the same oversold level as the bottom of July-September capitulation period. Fractal of July-September fall looks interestingly similar to the fall of September. Both drops reached the golden pocket fib levels of around 0.6 which is not surprising. Will ADA repeat the same story? Are there enough fundamental news coming up in the...

TheTradingParrot

We haven’t had a bullish divergence since a long time on BTC. Unfortunately is not as pronounced as I wish it was to indicate that we are at a bottom with more confidence. So we could still go a bit lower.