coffeeincodeout

coffeeincodeout

I have been tracking BTC daily chart which has been building on the ascending triangle since bottoming at 29k on July 20th. The bulls have been pushing BTC upwards slowly wearing down the bears. I entered this this trade at 48k anticipating a break above 50k which I believe will eventually hold. I measured from the bottom of the ascending triangle to 50k...

coffeeincodeout

As we approach 50k I highlighted a few key area of support and resistance to pay attention to. This doesn't mean we wont blow past 50k we very well can do that especially if alts sells off and that money flows into BTC. However, if we do get past 50k or 51k and just so happen to pullback we know that 40k will act as a support but also 50k can act as support to...

coffeeincodeout

I am expecting a slight pullback right before the feds speak I dont expect Bitcoin to trade below 38,200 level however, if it does I believe it will be short lived as it acts as support. Over the next day or two I expect large institutions to assess the risks of higher inflation and over the next few months whether they are confident the feds will be able to...

coffeeincodeout Updated 

Okay so when crypto goes up everyone wants to but and everyone wants to keep this monster flying! The reality is its not healthy and besides if it keeps rising then we lose the chance to buy in at a good price point and build our position. Right now we are below the 50 MA but above the 100 day MA. We are siting right above a support line and not sure if it will...

coffeeincodeout

I remember when I first started to learn about trading a tool that an old friend of mine taught me to help understand market direction was to compare the sp500 to the price of gold. The two trade parallel to each other and as you can see the price of gold recently started to pick back up as the sp500 began to drop. Its no surprise as investors will run to a safe...