mr_applepie

mr_applepie

Hey! I haven't posted lately, but taking a look at the chart this morning and being an avid follower of news around the world I'd like to share my thesis on Bitcoin and the overall crypto market. As a macro trader, you want to look at the big picture and forget about the short-term noise. It's clear that we're living in very challenging times for the whole...

mr_applepie

Looks like head and shoulders on a weekly chart. Also we just crossed 50 and 200 MA on daily chart which indicates stronger downwards pressure. If you didn't take profits on top you might as well enjoy the summer now and set limit orders accordingly. I personally still believe $100k BTC is in the cards for this 2021. Time will tell..

mr_applepie

Looks like we're heading towards 30% correction from the top. Key support around $41k. Previous resistance and fib retracement.

mr_applepie

Followup to my previous confirmed analysis to make nice support on $45k in February, here's a nice and simple Fib trend showing us $100k per Bitcoin by mid-summer this year.

mr_applepie

Trade the longer cycle. Bitcoin is here to stay. $45,600 price point is inevitable. However we might still visit down to $20,000 range as we're way over extended on RSI. Price is driven greatly by emotions at this time and smart money is waiting patiently the next move. I hope for the healthy correction to accumulate additional BTC. Otherwise, keep an eye on...

mr_applepie

Okay... If you've been following Bitcoin and through 2013 peak and 2017 peak, you might feel that similar euphoria is in the air as on the last time. Maybe a bit less this time as it's mostly filled with institutional interest rather than retail. Although looking at Google Trends for the keyword Bitcoin we see retail interest is starting to pick this...