variousCryptos

variousCryptos

Retes the bottom of this broadening wedge? Price seems to be losing momentum. IMO there's a high likelihood of it coming back down and retesting the bottom trend line.

variousCryptos Updated 

A simple trade idea. A break below the most recent low forming a new down trend. RSI is still above 50 but MFI is showing a lot of weakness. I think RSI will soon follow. I took a trend based fib to find a target at the 1.618 which corresponds nicely to a previous area of support. Let me know what you think.

variousCryptos

Increasing price with decreasing volume. A lot to be optimistic about but I would watch out for a price correction. While price is making new highs the volume has not been keeping up. There is a discordance with RSI and MFI representing essentially the same thing. Unless a rush of buyers steps in to keep pushing price higher I anticipate a similar correction to...

variousCryptos

If BTC can break above 19.7k there's a good chance for a rally. Bullish scenario: We've been printing Bullish divergence in the RSI and MFI has already moved above 50. BTC is in a descending wedge which is likely to break bullish more often than not. If we break above 19.7k then I would be looking for 22.4 and 24.4k. BTC is in a range so I'd expect a lot of...

variousCryptos

I still think there's more down-side despite the recent optimism in the market. We've essentially been moving sideways for a month and I suspect we'll largely continue moving sideways for a while longer. There's still a pretty hard resistance above 22k. I think a test of previous support is coming with price going back down to 17.2k. If we do get above 22.5k...

variousCryptos

Have we been in an accumulation phase since June 18th? Looking at BTC through the lens of a 3 line break chart you can make some historical comparisons that show this may be the case. In 2018 there was a triangle pattern breaking to the downside leading to an accumulation phase. That accumulation lasted approximately 6 months before price started moving back...

variousCryptos

DXY has been a topic of discussion since the start of the down-turn of the stock and crypto markets. Here's a very large time scale chart of the DXY. To me it looks like it's breaking out of this massive triangle pattern. We could be seeing DXY soar for the next few years. Could this mean a much deeper recession than expected?

variousCryptos

The market is extremely bearish. IMO this looks like a falling wedge that has good possibility to break bullish though. RSI had bullish divergence. MACD looking close to crossing. Would expect it go to 41.5k or possibly higher if it does. Break down would likely go to 35k once again.

variousCryptos

I've mentioned before how RSI only uses closing price to plot its line. This means you have to wait for price to close before the final value of the RSI is valid. A trap I've fallen into is using RSI data that isn't complete. Let me give a few examples. This weekly chart looks promising. Bullish candle and RSI increasing. A few days later after the weekly...

variousCryptos

RSI and price are both fixing to break below key levels. A break below the trend line can lead to major downside in the short term. Especially if we end up below 35k. Ichimoku Cloud on the daily is leaning bearish. Price has broken beneath the cloud as has the lagging span. Any more down days and the moving averages and kumo are soon to follow. Weekly...

variousCryptos

Bitcoin has been in consolidating for nearly 2 months. Expect an explosive move once we break out one way or another. It looks like a continuation pattern for Bitcoin. RSI making higher highs as price action making lower highs. If so then I expect a continuation of the larger trend to continue. The larger trend being down.

12:39

variousCryptos Updated 

An update on BTC. TLDW: Still bearish. Expect further downside. Also talk about a trade set-up. Good luck!

16:48

variousCryptos

I give a long winded explanation of why I think BTC will be going to 32k and the likelihood of a 6-12 month bear market. Let me know what you think.

variousCryptos

Another straightforward post. This time on the daily. BTC trying to hold 38k after being rejected at 43k. RSI is bearish. Volume is low. 38k seems inevitable that it will fail to hold though we may come back to 40k before that happens. Looking for 30k if/when we break down further.

variousCryptos

Real life obligations have kept me from posting for quite some time. Here's a quick update on BTC. BTC mostly sideways, but broke below a key level last week. I think its very likely we head down further in the coming weeks and head back to 32k. Looking for RSI to get below 40 to look for buying opportunities. Would want to get firmly above 46k first before I'd...

05:07

variousCryptos

It looks like we may have another leg to the downside. Expect support at 43 and 41k. Could have a relief rally afterwards but will be short lived if we do. Weekly chart looks like we may be heading further down, possibly 31k in the coming weeks/months.

17:47

variousCryptos

Follow up to my post yesterday. Wanted to talk about stop losses and risk to reward. Good luck trading!

10:48

variousCryptos

Hi, I walk through my processes of setting up a trade. I use several of the concepts I've mentioned in previous videos. Let me know what you think.