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Bitcoin 4hr analysis 1-16-2021Hello again ladies and gentlemen and welcome back to my daily analysis of Bitcoin. Today I have the 4hr pulled up (believe it or not) and we have plenty to discuss today. The bears struck this week and let us know they are still a force to be reckoned with. But the bulls rallied back. Can the bulls keep the momentum or will we see a bear attack this coming week. We have a lot to cover so lets get this show on the road. We are inside what looks to be a huge triangle on the 4hr. People claim its a bullish pattern and I would love to agree... But only time will tell for sure. This big triangle reminds me of the big triangle we saw when we reached 14k in the mini pump of 2019. To be fair though that was more of a right triangle compared to more of an equilateral triangle that we have on the charts at the moment. I would say its 50-50 whether we break up from this. I know you guys and gals are hoping for a more legit synopsis of the market but Im afraid we will just have to wait and see... We fell through the 4hr 50 MA and when we lost that support we fell into the depths of the 4hr cloud. Lucky for us the 4hr cloud is pretty reliable and we found support at the bottom border of the cloud. We have since rebounded nicely. But the thing is we lost the trend. I drew a line in the center of the triangle and this is the line I am talking about. It was ascending support while we were climbing back up from 30k but we lost that support yesterday. Now that same ascending trend support we enjoyed earlier in the week is now ascending resistance. Either way you slice it we will likely remain in consolidation between 30k and 38k I imagine at least until the end of this month. The big triangle sure shows us that this is a possibility. I know plenty of people saying this is alts time to shine and perhaps they are correct. Ive seen plenty of alts do well when BTC stopped pumping. ETH is close to ATH levels. Even if we dont break up from the triangle at the end of the month Im not sweating it. If we dip that is just as much of an opportunity as if we climb. Thats how we should all view the market. I hope you all have a great weekend. Make good choices! And never ever forget... WTFDIK??? TLDR: Consolidation between 30k and 38k over the next month. Set a stop loss if you want to trade this (as always)
by UnknownUnicorn4304403
Bitcoin 4hr analysis 1-10-2021Good morning again ladies and gentlemen and welcome back to my daily analysis of Bitcoin. Today I have the 4hr time frame pulled up after losing a bit of ground over night. No sweat though. We are still sitting at 39k currently and that is something to be proud of. Its well into the new year and we are still clinging to the gains we have seen over the past few weeks. But is a dip around the corner? Lets take a look at the chart. This morning I see we dropped to around 38500 before recovering to just below 40k where we are currently sitting. That shows the bears arent strong enough quite yet to take us down. Of course the constant pressure applied by the bears will eventually take its toll Im afraid, I still think its okay to be long as long as you set a stop loss. This is shaky ground and anything can happen. Prepare for the worst. Im not clairvoyant therefore I cant tell you for sure the direction we are heading next. What I can suggest is to employ risk management and even if you are wrong you wont pay for it too much. I see the bollinger bands on the 4hr time frame have had a chance to tighten up. This could point to increased volatility on the horizon. We lost the support of the trend I mentioned yesterday. I left the trend on the chart so you could see that we did in fact break out of the trend. Now that the trend is no more we are back to square one. I will be paying attention to the chart over the next day or 2 for sure to see if I can identify another trend early enough to trade for decent profit. Identifying trends early is a key to trading the trend. As we lose a little ground this weekend I am reminded of the gap from last weekend. We climbed 3k+ over the weekend and when Monday rolled around bam. Less than 12 hours into the day and we dropped to fill that gap. If you were trading that you could have paid off a car if you made the right trades. Something to think about. I bring this up due to this being the weekend. We may have a gap just like last weekend. But this one should be above us unless the bulls take off today. When you drop over the weekend you create a bullish gap. When the price climbs over the weekend its the opposite. So Im interested to see how the weekly close looks in less than 12 hours from now. Just remember that not all gaps are created equal. Just because a gap is on the chart doesnt necessarily mean we fill it like we did last week. I like to trade gaps but I have been burnt. Though its very rare. I am pretty successful playing gaps for the most part because they are predictable to a degree and traders need to take advantage of any edge they have in this market. 39800 is sort of the line in the sand at the moment. I see some support at this level but it seems fleeting. If we do lose it we can expect a drop to at least 37700 and that is being conservative. The weekend is typically boring in terms of price movement (except the past 3 weekends). This weekend is more of what Im used to. Consolidation. I do like that there could be a gap above us Monday. That could start the week of on a bullish note. Only time wil tell for sure. I hope you all have a great day folks. Make good choices! And always remember WTFDIK??? TLDR: Clinging to 40k. I see support around 37700 if we lose current support. A gap will likely form above the candles if the weekend proceeds as it is now. (bullish gap) If you plan to trade the gap set a stop loss. Nothing is certain except uncertainty.
by UnknownUnicorn4304403
Bitcoin 4hr analysis 1-3-2021Good morning again ladies and gentlemen and welcome to the bull show. Bitcoin is still climbing full steam ahead and shows no sign of relenting. Many speak of opening shorts but with the recent climbs we have witnessed its just not easy to bet against the bulls right now. There is a lot going on with the charts this morning and we have much to discuss so grab a coffee and lets get this show on the road. I see that we had a bearish doji last 4hr candle. It happened right after breaking 34750. So we were quite close to 35k. This could be a psychological resistance but we seemingly glided effortlessly through 30k that 35k could be a speed bump for all I know. We literally have hardly any data at these levels and fomo is certainly playing a factor in this pump. But perhaps there is another reason for it... Stimulus money is being thrown about and people may be dumping that into an already saturated market in hopes of catching the pump. I am guessing there are likely quite a few people that decided buying BTC with their stimulus would make sense. Especially considering the fact that if you invested the original 1200 they handed out in May you would be up nearly 6X. I believe when the first stimulus was handed out BTC was around 6k and now its near 6x to that. So 1200 would be around 7k. Give or take of course. But perhaps the stimulus is what is extending this pump? With all this upward momentum on everyones mind I am looking ahead to Monday. There will likely be another giant gap just like last week. These gaps are sure adding up. There is no guarantee they get filled. We have been regularly leaving gaps behind for weeks now. But this could come into play later on. Most gaps tend to fill so I keep an eye on them. This is an extraordinary time though so the gaps mechanics are being ignored mainly due to this incredible pump we have been witnessing. The bears just havent been able to stop it. I am still long with a good stop loss set. No need to ignore logic even in a bull run. The bears could strike any minute. I wouldnt short anything at the moment but I would recommend trading with a stop loss. Just in case. I cant tell you when the bulls will relent. Maybe never lol. Maybe tomorrow? Time will tell. Things are a bit crazy outside the Bitcoin market with politics and other factors. Even some alts are suffering from SEC or whatever and people might be exiting their positions in that alt and enter into BTC. Especially the way Bitcoin has been going it would be hard to blame them. But people are asking me daily why this pump wont stop. They just want answers. It was the perfect storm this pump. We had a huge dip in March fueling the start of this bull run, we had the halving in May, Stimulus money in May, broke 2.5 year trend line in July, we broke 20k in Deccember. That is just part of it. Inflation of the USD played a factor as well IMO but that is harder for me to prove. People dont always agree with me but thats just how I look at it. Just enjoy the pump folks. I have a feeling we will see a correction soon enough but in the mean time enjoy this. We deserve every bit of this pump. Have a great day folks and always remember WTFDIK?? TLDR: Cmon 35K!
by UnknownUnicorn4304403
Bitcoin monthly chart 1-1-2021Good morning again ladies and gentlemen and happy new year to each and everyone of you. I hope we all got 2020 out of our systems and we are all determined to make 2021 a horse of a different color. 2020 may not have been good for most people but most people dont hold Bitcoin... Yet. This past year we saw a low of 3800 and a high of nearly 30k. It was the perfect bullish storm and in this analysis I will sort of wrap up the previous year while looking at 2021 as well. So grab a cup of coffee and lets chat about charts. This monthly chart is amazing. The month of December 2020 was the best month Bitcoin has ever seen. With the wick and all we went from 17600 - 29600 which for those who dont like math is 12k. Im still shaking my head in disbelief. I mean I thought the bulls probably would eclipse the ATH but not in this fashion. The bulls really put on a show to end 2020 and 2021 is off to a great start. But can it last? I know many of us are expecting a drop. I guess you could call it post traumatic stress disorder from the 2017 pump and dump. I can tell you right now I would love to see Bitcoin keep rising but nothing is written in stone so you need to use risk management if you are going to stay long. Walk that stop loss up as the price rises. Sure you may miss the top but if we break 30k you will be able to walk that stop up even more. This ensures you lock in that profit. Simple yet effective. With tax season on the horizon and most of the people that have invested in Bitcoin being in profit at this time we can all guess that the tax man will come knocking. Will this result in a mass cashout of BTC in order to pay the debts? Not necessarily. And let me explain why things could be different this year. People are receiving stimulus checks in the US. 600 USD per person/ and 600 per dependent. This is being sent to us after Xmas and the holidays so much of it can be used for something besides Xmas. Like Taxes??? Just a hunch folks. This stimulus could bolster Bitcoin. Especially because I imagine the US govt is just having this money printed like toilet paper. This leads to inflation and Bitcoin goes up when the USD inflates. Simple economics. We reached 29600 in 2020 so I am very optimistic about the future of Bitcoin. Even if there is a pull back we should not get discouraged. A drop in price means another opportunity. After all my mentor Todd once said "when hasnt Bitcoin bounced back?" which is an accurate statement. As we enter 2021 I am cautiously optimistic. We have not seen the bottom fall out yet. But that could be because its a holiday today. I would watch the charts this coming Monday for sure as people will be getting back to work. We will see if the bulls remain in charge or the bears finally get a turn. I love this monthly chart. I hardly ever share it but I figured it would be the perfect day to do just that. I hope you all have a great 2021. Make good choices my friends. And always remember WTFDIK??? TLDR: Happy New Year. New ATH of 29600. Nice year bulls
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-30-2020Good morning again ladies and gentlemen and welcome back to my daily look into the charts. Today I have the 4hr time frame pulled up and we seem to be holding onto 28k for the time being. Things look good for a good strong yearly close. I believe the daily and weekly and monthly all close in approximately 9 hours give or take and a lot can happen in 9 hours. Im hoping we can maintain some of these gains and start 2021 off the right way. We will know soon. Lets take a look at what is going on this morning. I see we are still respecting the trend. We remain above the ascending support for now and that is a good sign for the bulls. No sign of a pull back yet. I must tell you that I expect a pull back soon but for now Im enjoying the bullish momentum. I will stick with my plan of walking up my stop loss to lock that profit in. This allows me to remain in the trade til we lose support. And that support I have my eye on is the 4hr 50 MA. I dont want to see us lose the support but if we do we may see a sizeable drop. Just remember there is a big gap below us that would require a drop to 23500 approximately to fill it. So this is one big reason I recommend setting a good stop loss. Those bears are tricky and proper risk management can help you avoid becoming a victim to the bear. With a new ATH of 29300 approximately this means 30k is within our grasp. Perhaps this is where the line in the sand will be. Just like 20k was for all those years. I guess we will find out for sure in 2021. Looking at the 1 year candles we see this has been one of the best years for Bitcoin ever. We have a low of 4k approximately. And a high of 29300. That is over 7x if you bought at the right time. Pretty impressive for some tulips I would say. This is the last day of 2020 so make sure you set that stop loss and trade with caution my friends. When candles close they can get crazy sometimes and tonight the daily and the weekly and the monthly and the yearly candles close. Lets end 2020 on a strong note and make 2021 our B!+&%. I hope you all have a safe and happy new year. Make good choices folks. And always remember... WTFDIK??? TLDR: Happy New Year ya filthy animals 
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-30-2020Good morning again ladies and gentlemen and welcome back to my daily look into the world we call Bitcoin. Today I pulled up the 4hr time frame after retaking 28k (and losing it) overnight. No sweat though right? We crested around 28600 which means we created a new ATH. Very impressive bulls! 2 more days (including today) left in 2020. Can we maintain these levels into 2021? Lets take a look at what is going on with my busy chart this morning. There is a lot going on so I am going to cut to the chase this morning. We created a higher high overnight which I mentioned already. As long as we are consistently creating higher highs the bullish run isnt over. Although we do seem to be stalling out just under 29k. Perhaps this is the top but I will tell you I am sure not betting against the bulls. Not after what I have seen them do over the past few months. But when higher highs are evident on the major time frame it gives traders confidence as higher highs are typically viewed as bullish. I noticed that there was a small bearish divergence forming. RSI dropping while the price of BTC rose. This is inconsistent and therefore falls under the divergence category. I dont expect it to cause a huge drop or anything. At least not on its own. Sometimes a divergence is lackluster at best. Other times it can be the catalyst to a big dump. We have a big 2000 dollar + gap below us from last weekend and in order to fill that gap we need to drop to around 23500. Imagine being a noob in Bitcoin that just joined during this pump. They may see a drop to 23500 as bearish. LOL. But when you spent nearly 3 years below 20k anything above 20k is a beautiful site. I see my trading set up is finally beginning to catch up to the candles. I love and hate this. You see when these indicators I use on the regular (50 MA 200 MA and the cloud) are far below that is usually bullish as the candles rose so fast it left moving averages and the cloud far behind. The 4hr time frame shows us pretty much caught up to the candles (maybe not the 200 MA) But the daily has been pretty far above my trading set up. It still is which is one reason I have avoided analyzing it as much as say the 4hr. But even the daily time frame shows my trading set up catching up to the candles. Its been a long time coming. Lets look at the bigger picture. The 4hr time frame and the daily and weekly shows us all the same thing. We are above the key indicators I use to determine bullish vs bearish. The 50 MA and the 200 MA along with the cloud are all below us on these major time frames and as long as that remains the case I am still bullish. We have over 50 billion USD in 24 hour volume over the past 24 hours. The market cap for the King is over 500 billion dollars. That is goldman sachs money folks. All in a decentralized system with no centralized entity calling the shots. You see certain alts that shall remain nameless have centralized figure heads that can call the shots. Its a degree of centralization that some find helpful. I mean one person calling the shots sounds good in theory. Perhaps consensus can be reached faster if a centralized figure calls the shots. But that is what makes Bitcoin so unique. I guess what I am trying to get at is XRP is being sued by SEC. Someone told me Bitcoin was next. LOL. Who will the SEC go after? Satoshi? Good luck with that. No centralized figure would make it nearly impossible for the SEC to approach Bitcoin in any legal manner. Alts flew after Bitcoin relented back in 2017. As soon as we reached 20k 3 years ago we saw a decline in the price of BTC within a day or so. That money flowed into alts triggering what is widely known as "Alt Season". I have my eyes on Bitcoin like always but alts too. Although there is no guarantee that alts perform like 2017 but I am still watching. I remember back when I first got into Bitcoin, XRP was the big deal in alts. I mean I remember co workers coming up to me saying XRP broke 1 dollar. Than 2 dollars. Than 3 dollars. It was parabolic. I believe a lot of this XRP pump detracted from the BTC pop. It stifled the run IMO. This go round XRP got almost no love. In fact it was quite the opposite this go round. The alts listed below Bitcoin (or most of them) have been pretty boring. Alts were the hot topic back in 2017-2018. Back then we didnt have the halving directly at our backs. This pump we do. So there is a difference. I will be watching. If money starts flowing from BTC watch for alts to pop. No guarantees but that money is going to flow into somewhere. Either into alts or into bank accounts and now that people (US) are surely getting their stimulus the money may not flow as fast from BTC. But time will surely tell if that is the case. In the mean time please be smart with your investments my friends. Learn to manage risk properly. Lets end 2020 on a high note folks! And remember WTFDIK??? TLDR: New ATH 28,600 USD. Still above my set up on the major time frames. Higher high created over night. If we lose the 4hr 50 MA look out below (IMO)
by UnknownUnicorn4304403
Bitcoin 1 week outlook 12-29-2020Good morning again ladies and gentlemen and welcome back to my daily look into the best investment since Enron!!! Bitcoin! LOL. But seriously I saw a gold PS5 online this a.m. and Im pretty sure someone reading this bought the gold PS5 (nearly 1 million USD) with your profit. Just step up and admit it. As we all browse Lambos online I am curious to see if we can keep our heads out of the trenches at least til the 2nd of January. 4th of January would be even better as that is the real beginning of the year thanks to everyone taking new years off and new years day as well. So lets take a look at the charts this morning. I decided to take a zoomed out look at the charts. Its nice to do this occasionally even if it doesnt really give you the best info as far as short term pricing we can still walk away with plenty from this weekly chart. Look at the current pump. Its parabolic. Do I love seeing a straight up bull push to the heavens? Oh hell ya! But am I dumb enough to play with fire at these levels? Not so much. Even if we were to break 30k RSI on the weekly time frame is higher than its ever been on a Binance chart. The last time we got to 90+ on the weekly RSI we ultimately saw a 50% drop or even more if you look a bit further down the chart. 2017 was a different rodeo back then. It was my first jump into investing and I caught the pump around 8500 all the way to 20k. We lost a lot of ground really fast. Within weeks people were saying BTC is dead and it was all over. Alts were significantly stronger and the dominance alts held was much higher. Now Bitcoin is ruling the roost as far as dominance. At nearly 70% Bitcoin is remarkably higher than It was in 2018. In fact we dropped to 1/2 where we are now. 35%. Which meant alts controlled 65% of the market as a whole early on in 2018. But as time progressed dominance returned to Bitcoin and now we are back at 70%. Just like we were last ATH back in 2017. I know people are watching for alts to jump and keeping an eye on dominance is a key to this equation if you ask me. This break out was largely fueled by a huge dip back in March where we had some huge buys and volume spiked. People like to buy that dip and that started out trek up the charts. From 3800 we made it to a 2.5 year trend line. After being rejected from it 3 times over the last 2.5 years we finally burst through it at around 10k. Breaking this resistance was key to the bull run. Once we broke it the evidence is clear on the charts. We went parabolic pretty soon after that. I didnt even mention the halving that happened in May of this year. Also another reason for the bullish chart action. It takes months before a halving pump shows its face and this is the 3rd real time that we have seen this happen. I think its safe to say the halvings are pretty reliable. As long as you are patient. Not to mention institutional buyers are getting into the mix. Paypal offering Bitcoin has been a huge deal for the cryptocurrency. We are seeing the results of the perfect storm and after 3 years of getting nowhere near 20k we beat it with relative ease this bulls run. If we do start losing ground the 4hr 50 MA is my first line in the sand. Its been reliable as support over the course of this run only failing a few times . We are currently sitting above the support so until that changes I will remain optimistic. I still dont have the guts to bet against the bulls. But I must remind you there is a big nearly 2000 dollar gap below us. Losing 2k would still leave us above 24k but when people see a drop like that it could trigger a domino knee jerk reaction where fomo is reversed and people wanna sell before they lose all their profit. That is what a stop loss is for folks. Thats why I recommend it. Even if its at 15k. Ive seen Bitcoin lose 50% in hours. Im not saying that it is certainly bound to happen this go round but I wouldnt ignore history. What goes up normally comes down. Stimulus was approved so lets see how Bitcoin takes the news. Right now its 600 USD per citizen (US) but they are fighting for much more. With that in mind I imagine many o USD will be printed or simply created out of thin air. This could fuel Bitcoins rise as inflation of the underlying base currency Bitcoin is naturally compared against makes Bitcoin more valuable as a rule vs the USD which has not 21 million coin limit Im afraid. That is the reason they took us off the gold standard after all. It makes it easier to inflate that USD. Bitcoin has a super bright future. 500 billion dollar market cap. Nothing to shake a stick at folks. I hope you all have a great day and I hope a look at the weekly makes you as proud as I am for sticking it out throughout all those bear months. Make good choices and always remember... WTFDIK?? TLDR: Year is almost over. Bulls are still in charge but Im watching for the bears. I can smell em.
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-28-2020Good morning again ladies and gentlemen and welcome back to my look into the exciting world we know as Bitcoin. We have officially entered Mars' orbit and ground control says all systems go! But seriously. 28400? We had a strong weekly candle once again after yesterdays close and things still look pretty good considering. I still have that feeling the bears will hit back. I will discuss my thoughts in this analysis. So lets get to it. Stimulus is a go. 600 USD per American (many Americans) to the tune of hundreds of billions of dollars. Not to mention they needed even more money for the various nefarious items out politicians desire so much. But I do have good news! As they print the USD into oblivion it will certainly work in Bitcoins favor. I cant rule out the idea that much of this pump has not been so much artificial, but rather fueled by inflation (along with other factors of course) and if they keep pulling USD out of a hat so to speak it will make the price of Bitcoin increase IMO. Does that mean no more dips? No... The bears will still take us down. But inflation of the USD will only strengthen BTC in my opinion. Okay let me jump down off my soap box and discuss the charts. I threw an ascending support onto the chart. It is obvious that it has been acting as support and resistance over the past few days. I also see when we dipped below the ascending support the 4hr 50 MA was what was holding us up. As long as we remain on top of the ascending trendline I drew I am not convinced the pump is done. If we do lose it I would have my stop loss below that 4hr 50 MA because I have a feeling if we lose the 4hr 50 MA we may lose some serious ground. But these are all hypotheticals at this point. Right now we are still sitting above 7k and above both levels of support so Im optimistic for sure. One thing I want to bring up is the fact there is quite a large gap below us. From 23750 - 26500. These gaps tend to fill rather quickly upon showing up on Monday but this one has yet to have an effect. The bullish market could just be too much for the bears to mess with or perhaps the stimulus news is slowing the cash outs. I assumed many would cash out to get tax money to cover their dues come tax day 2021. Its just a part of investing. But if people are about to receive 600 per dependent and per each parent they may not need to worry about cashing out their bullish BTC in order to meet tax obligations. Or maybe people just want to wait til the last possible minute to make sure they dont miss any pump? A multitude of possibilities. Time will tell if this bullish market will roll into 2021... 2020 has been one wild and crazy ride where people thought Bitcoin was going to crash and burn after the dump on March 13th of this year. But since then we have 7x + in around 9 months. That is incredible. Is the fun over? Maybe. But even if it were to come crashing down I had a blast watching this surge. The one thing Im confident of is Bitcoin is not done. It will rise even more. Even if we lose 50% today. We will see 6 figure Bitcoin eventually. Its a matter of time in my opinion. The fundamentals of the USD and BTC dictate that BTC should rise in value due to its limited nature. That is what attracted me to Bitcoin in the first place. I hope you all have a great week. I will be watching the charts closely. Please make good smart choices folks. And always remember... WTFDIK?? TLDR: Still bullish but I have a stop loss set for sure. Big gap below us From 23750 - 26500. So be careful and set that stop.
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-27-2020Good morning again ladies and gentlemen and welcome back to my daily look into the biggest financial system on the planet, Bitcoin. Did I mention its decentralized? Pretty cool when you think about it. The bulls have been on a tear this week and even well into the weekend things still seem pretty strong considering. But as the year comes to a close will the bears take their chance to strike back? Lets take a look at what is going on right now. I see on the 4hr time frame there was recently a bearish doji. You see when a doji like that forms at the top of an uptrend it can signal a reversal. Should you exit your position based on a single doji? Maybe not. But I think setting a stop loss is a great idea as an alternative. Its all about risk management and traders that ignore risk management are the ones that normally end up rekt. The bearish doji may take us down a bit but there is no guarantee that this will occur. I will go out on a limb to claim more often than not dojis like this tend to result in a red candle. Seeing as how this is the 4hr time frame the drop shouldnt be too significant. Perhaps a drop to former support levels which I tried my very best to identify for you guys and gals on the chart. This pump makes TA difficult and that is okay by me. As long as Im raking in profit Im good! There has been some crazy pump action over the week and into the weekend. But as Monday approaches I wonder how big that gap will be? From taking a quick look at the cme chart the gaps bottom should be around 23685. Meaning we have a real chance of a drop come Monday. There is not a guarantee of this. Gaps dont always need to fill the first day but in my experience that does happen more often than not. We may not fill any gaps til after the 1st. Something tells me this pump isnt going to last forever... Call it intuition or call it clairvoyance or experience. I dont care. But we should all expect a drop in the coming week or 2. Worst case scenario we dump. Best case scenario Im wrong. Im not asking anyone to exit positions. I am asking for you to exercise risk management and trade with caution at these levels folks. All in all 2020 has been a fantastic year for Bitcoin. The reason Im hesitant to say Bitcoin is definitely about to dump is they keep speaking of stimulus after stimulus in the US. That makes me think they will just ask the fed to print trillions. This will devalue the USD which could result in more pump. Not to mention the fact institutions are now buying it by the fistful. 28422 is this years ATH and even though I would love to see the bulls take us to the next level I am satisfied with the pump so far. But keep that stop loss set. The bears are sneaky. I hope you all have a great day. Make good choice my friends. And remember WTFDIK??? TLDR: Bearish doji on the 4hr. No real effect as of yet. Big gap below us. Could mean a bearish Monday. Time will tell!
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-26-2020Good morning again ladies and gentlemen and welcome to the 25k level. We are knocking resistance down left and right tearing our way up the charts. I said I would be satisfied if we made it to 25k but I must admit I am still pulling for the bulls! 25400 has been broken and that is the new ATH. Nicely done bulls! Lets take a look at what is going on with the charts this morning. We have been tearing up the chart. It is really nice to see but we all know that gains that stack like this rarely stick. Does that mean Im exiting my position this a.m.??? No way. But I am walking my stop loss up just to be safe. Locking in that profit is important. If you do not walk your stop loss up the dip may catch you by surprise. I cannot tell you for sure how this dip will materialize. But I can tell you what goes up must come down. With a little TA knowledge I see the break out from 2017 (from September 2017 - December 2017) We saw a rise from about 3k to 20k. That was a 17k increase. I used this info to gage the break out we are experiencing at this time. If we do get that high I would say 27750 would be near the top. Of course TA is not always cut and paste. So you should be prepared for a dump today. Prepare for the worst. Hope for the best. And lets hope the bears stay in hibernation. There isnt much I can grasp at these levels quite yet. Tomorrows analysis should be a bit more in depth I imagine. But the one thing I can say is Bitcoin doesnt seem to be done yet. We are kissing 25500 as I type this. And dont forget this is a Saturday so pumps like this were not really expected. Especially after a big holiday. I guess we all got a decent present this year. Thanks Satoshi! Will 25k stick? I sure hope so. The higher we climb on the chart the more likely a retrace will not take us down past 5 figures. I mean its totally possible but the bears will have to bring their A game to turn this bullishness around. I do think a dump of some sort is coming though. Maybe after the first of the year? With institutions buying in and the halving behind us along with a few other events this break out can be looked at as the perfect bullish storm. This makes me excited for the next halving which is over 3 years away. Will we break 6 figures after that? Before that? Citibank seems to think we will be at 310k BTC by end of 2021. And with all the money the US is printing I can see that becoming a reality. But only time will tell. Set a stop loss and enjoy this pump. We all deserve it. I hope you all have a great weekend. Enjoy those gains traders and long term investors! Make good choices and always remember WTFDIK?? TLDR: 25500... Need I say more?
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-25-2020Good morning again ladies and gentlemen and welcome back to my daily look into the charts of Bitcoin. Its Christmas and I guess we all got the gift of a new ATH today. Nicely done bulls! Nearly kissing 25k is something to be proud of and we should all pat ourselves on the back for putting up with the last 3 years. As we sit in uncharted territory can we break 25k and keep the momentum up through the end of the year? Lets take a look at the charts. As we cruise along above 24k I am encouraged. We have not spent a lot of time above the 15k level. At least not until now. Back in 2017 we spent literally hours at the ATH (19800) before seeing the bottom fall out less than a few weeks later. The bottom can still fall out folks. You need to be prepared for the worst while hoping for the best. With that in mind lets discuss support at this level. Okay the previous ATH a few days back was around 24350 or something close to that. Now we are above that at 24400. Which to me looks like former resistance is now support. We got rejected at the 24350 level, beat the resistance and now its support. The farther up the chart we climb the less likely the bears will take us down. At least below 20k. Its totally possible to see us drop and I expect a drop. But only time will tell how that will materialize. The bulls gave us all a good Xmas present and we should all be thankful. We are sitting on a new ATH and things still look surprisingly good on the major time frames. We are above the 50 MA and the 200 MA and the ichimoku cloud as well. All bullish! But I have that stop loss set just in case! You should set a stop loss as well. As much as I want to keep seeing the bulls tear up the chart I have that feeling the bears are waiting for the perfect time to strike. But its Xmas so enjoy your day and your new ATH folks! I didnt write as much as I usually do today. I have family over and we are doing the Xmas thang. I just sneaked away to type this up real fast. Someone posted we broke 25k this a.m. so I jumped on as soon as I could lol. We didnt quite break 25k on Binance but I still like what I see. Have a great Xmas everyone and make good choices my friends! And always remember... WTFDIK??? TLDR: I dont care what your mama says... Xmas time is here..... I dont care what your daddy says.. Xmas is full of cheer!!!
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-24-2020Good morning again ladies and gentlemen and welcome back to my daily look into the exciting world of Bitcoin. Today I have the 4hr time frame pulled up and I see consolidation has taken hold. The bulls have taken us to new heights this year and I for one am quite impressed. But nothing goes up forever and a retrace should be on all of our minds. Even if it doesnt happen and we keep going up, being prepared is never a bad thing. Stop losses are a good way to do just that. We have 1 more week in 2020 and we are holding onto 20k with all our strength. But will it last through 2021? Lets take a look at the charts this morning. We have been cruising right along in the 23300 since I analyzed the chart yesterday. Bitcoin is soaring high and the gains have already stuck better than those of 2017. Meaning we have spent around a week above 20k vs back in 2017 where we spent a few hours at ATH levels. But this time it seems different with the lead up to this bull run. 2017 had no halving. 2017 had almost 0 institutional interest in Bitcoin. 2017 had no 2.5 year trend break to kick start the bull run. 2017 was different. BTC dominance was lower in 2017 as alts were hot back then. Now more attention is directed at Bitcoin. The differences between 2017 and 2020 are apparent, no doubt about that. But will it equate to gains that stick? The 4hr 50 MA has been a friend for most of the bull run. Barring a few times where we dipped below the indicator (orange line on the chart) we have spent the majority of the run above the support bouncing off of it numerous times. In runs like this I look for indicators that have reliable data like this. I can make trades off the bounces. Its not rocket science. Just common sense. Being able to identify trends and patterns early will equate to more profit. We are really testing that 4hr 50 MA at the moment so make sure you have a stop loss set. With all that is going on in the world many external factors have become an issue with the recent movement of Bitcoin. The stimulus that is still in the works will likely effect the price of Bitcoin along with the pandemic etc. Its just a crazy time politically and economically. Nothing any of us can really do except ride it out I suppose. Just look at it like this. The stimulus will likely result in massive money creation. This should make BTC rise in terms of US dollars. Bitcoin's own volatility could certainly outpace the effect of inflation but something has to give. When you print trillions of US dollars in such a short time inflation hits. So technically BTC is not going up in value. But rather the US dollar is losing value. Im sticking with my plan. Stop loss set and if we go up I will move that stop loss up. If we drop Im out. Reentry later. Speculation is fun but ultimately it may not be as helpful as we hope. Bitcoin is going to go up and down. Nothing we can do about that. What we can do is make money off the dips and rises. That is what we are here for anyways right?? Even if you hold long term you are basically a trader too. You just take 1 - 5 years to close trades lol. Nothing wrong with long term investments. I do both trading and long term. I really like taking advantage of BTC when it drops to sub 5k. I like to put any BTC I buy at those levels into my cold storage and let it sit. It makes me feel good knowing I bought at those levels and am up quite a bit. There was a bit of fud with a certain alt that has been hogging attention as of late. I hope the bad news does blow over soon. Not because I am a huge alt coin fan but because its crypto. Even XRP. When outsiders see issues like this it may or may not shed a bad light on BTC. I hope this SEC stuff blows over soon. For everyones sake. We are all in this together. Like football teams so to speak. We may poke fun at the other teams but at the end of the day we all play the same game and should have a certain amount of respect for one another. I hope you all have a great day. Lets crush 25k before New years folks! LOL. Please make good choices! And never forget. WTFDIK??? TLDR: Consolidation. -------> plenty of support below us. Things look good for now. If we can stay above the 4hr 50 MA I think that will be bullish. If not we will see what happens
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-23-2020Good morning again ladies and gentlemen and welcome to my daily analysis of Bitcoin. Today I have the 4hr time frame pulled up and I can see we are starting this day off right. The bulls just wont relent and we are knocking on 24k's door once again. Nice work bulls! There are still approximately one more week left in 2020 and I would love to see us end the year with a bang. With numerous outside factors considered Bitcoin is really showing the world that it is a viable investment that can and should be a part of everyones portfolio in my opinion. No more calling Bitcoin "tulips"... That went out the door when Paypal and Grayscale started scooping up Bitcoin by the bucket full. I literally could go on all day and Im tempted to do just that... But I have a chart to analyze. So lets get to it. I see a trend forming and we are really respecting the borders of the trend in question. That is why they say the trend is your friend. Learning to identify trends like this is essential... If you can identify trends early you can get some decent trades off. I love trading trends and patterns myself. Pretty self explanatory but I will explain with a shortened version. When the candles hit the top of the trend I will USDT. If it hits the bottom buy back into BTC. Am I always a millionaire at the end of all this? Nope. Sometimes its hardly worth the efforts. As an evolving trader I am learning when I should avoid messing with a long. If the reward isnt worth the risk you should absolutely refrain from entering a position. But if you do want to trade a pattern (triangles etc) or a trend like we see on the chart at the moment, identification is key. Then execution is a must. Learning to set a stop and walking that stop up the trend will lead to profit. I know that this strategy works well for me. I mentioned this yesterday but the support on the 4hr time frame shows plenty of support below us. The part I have my eye on is the 4hr 50 MA (orange line) along with the top border of the 4hr ichimoku cloud. These 2 indicators are combined and that will likely give traders more confidence. That confidence can lead to a new ATH perhaps. We are so close. Bitcoin has been spoiling us this year. Bitcoin consolidates for a few days and people are already ready to give up LOL. I know I am spoiled by Bitcoin. People ask me why I dont mess with stocks and the main reasoning behind that is Bitcoin is all I really need. Anything else is just another chart I have to learn and that takes time. Im familiar with Bitcoin and the habits it has. Alts are the same for me. I used to mess with them often but for the last year or so I stuck strictly with Bitcoin. I know some alts could have made me rich simply from a buy and hold. But those alts arent easy to find. Bitcoin is not hard to find and the market has plenty of liquidity which is also very important to me. So that is the main reason I stick to trading Bitcoin. Over the last 1.5 hours we have seen a 1k rise in the price of BTC. Nice pump to wake up to. 1000 dollar swings are pretty common at these levels. I remember back 6 months ago a 1000 dollar swing was a huge deal. The higher we go the more likely a 1000 dollar swing will be par for the course. Think of it this way.. a 10% swing is common in crypto. A 10% swing would see a $2380 move. That is quite a bit. I am really absorbing all the info I can at these levels and all of you should as well. This data is absolutely crucial. Support and resistance is being carved daily. That is the data we need to pay attention to. As a trader nothing has really changed for me at these levels as far as my strategy goes. I still am religious about setting a stop loss. I still walk that stop loss up the chart following the candles. I also stay ready to buy that dip. Setting alerts with certain apps is a good way to know when the price is moving. I have a lot of alerts that help me stay on top of my trading. 4hr bollinger bands are tightening up. That means volatility is on the horizon. I would love to promise you that the break out will result in 25k Bitcoin but I am not clairvoyant. I dont have a crystal ball. I only have logic. And logic tells me that risk management is the name of the game... Or the name of my game. I am adamant about that stop loss. You see if the bottom falls out before I decide to sell that stop loss is all that stands between me and a loss. I like this method. Walking up the stop loss in a safe effective manner allows me to stay in the trade as long as I want and keep gathering profit. Whats not to love about that? There has been a bit of fud flowing around social media this A.M. about XRP and how the SEC filed suit against the coin. It caused a massive dump. I know we all enjoy poking fun at XRP but the real deal is I dont like seeing anyone lose their hard earned money. I hate when external forces affect the charts negatively. When its good it doesnt bug me. Like hearing Paypal was buying BTC was great external news that wasnt really technical. But that doesnt mean it didnt have an effect on the charts. XRP will be okay in the long run I imagine but for now things could get worse before they get better. Only time will tell. I dont usually talk XRP but I just wanted to bring it up as many of my followers do mess with XRP. I will stick with my Bitcoin for now and let the chips fall where they may. With the new stimulus seemingly in limbo this could equate into volatility. I just have that feeling... First no stimulus money for US citizens, then it went to 600 USD per person. Now our fearless leader is putting his foot down and saying they need to increase the amount to 2k per person. I have no clue how this is going to end but you better believe Im watching and paying attention. The way this turns out could have big repercussions on the charts. I think if there were no stimulus coming traders may be more apt to remove BTC from their holdings to meet tax liability. But with stimulus money on the horizon it may keep these investors from removing that BTC. Especially if they got 2k per person. At this point its all speculation but that is a lot of what I do. The stimulus could effect BTC in more ways than just taxes like I mentioned. By printing these checks again it will cause another bout of inflation. That is just how it works. They will create money out of thin air and that will in turn dilute the supply we already have. Meaning that 1000 dollars in your bank account is more like 900 after the inflation. This will undoubtedly have an effect on the price of BTC as well. It may go up in terms of USD and we all love seeing that. But that doesnt mean BTC is gaining value. Rather it means the US dollar is losing value. This has a lot to do with this recent pump and could fuel another tear up the charts. Even putting 30k into play. Who would have thought I would even bring 30k up in 2020 LOL. Anyways I hope you all have a great day! Make good choices folks! And always remember... WTFDIK??? TLDR: 23650. Need I say more?
by UnknownUnicorn4304403
2
Bitcoin 4hr analysis 12-20-2020Good Sunday to you all. Im finally back from my little get away and decided to take a look at what is going on with the charts. After spending 2 days ignoring the charts its sure nice to come back to 24k BTC. 2020 has been such a solid year in terms of growth for Bitcoin. I think it has a lot to do with the US printing massive amounts of USD to pay for the 1st stimulus and the 2nd one that is likely to be in the cards. With that 2nd stimulus we may see a reduced burden on people exiting positions in BTC to pay taxes etc. If they get this 600 USD + we may see people using that vs removing their BTC during a bull run. That is easier said than done. Anyways lets take a look at the charts today. The 4hr is showing us moving sideways pretty much through the weekend. I mean we have increased as far as price but the weekend has largely been uneventful. As most weekends are. One high point was we made a new ATH around 24300. Who would have thought we would be at this level back in March? I know I had my doubts. But I bought plenty in March because when hasnt BTC bounced back? The dip in March wasnt very technical. I mean the drop occurred due to extenuating circumstances (Covid and the side effects) So its not like you have a covid indicator. I remember China had announced a large drop in oil use and that caused the bottom to fall out of numerous markets. Bitcoin included. Also the stock market took a pretty decent hit. But Bitcoin lost over 50% on the drop while the stock market was closer to 30% if I remember correctly. Oil dropped to nil. Now oil is around 50 USD so it has been slowly recovering. Not yet back to pre covid levels. That is understandable. Not as many people driving along with industry suffering. But the stock market recovered to pre covid levels in no time. Bitcoin did even better than pre covid levels and from March 13th through today we have seen a 6X+ increase in the price. That means if you put in 1k in March you now have 6k. Not too shabby.... The weekend usually is pretty boring and this is no exception. I know we busted that ATH but just barely and I expect a retrace eventually. I dont want to bet against the bulls at this time so I will let my stop loss do the dirty work. But the way things look we may just end 2020 on a strong note. With the craziness in politics in the US many external factors will likely effect the price of Bitcoin. I like it better when its mainly technical data I need to analyze but when you throw politics and a pandemic into the mix things get a bit sticky. But starting 2020 above 20k would be great. Especially if we can hold onto these gains into the next administration (Whomever it may be) Im not going to discuss politics because I hate it. I dont care who wins or who lost. I care about Bitcoin and my profit. So please do not take my mentions of politics as an open invitation for a debate. LOL I drew a small trend that is slightly ascending in nature. I see we have been respecting it for the weekend but keep an eye on things in a few hours. 3.5 hours to be exact. The weekly will close then and we may see some movement. Maybe not. I see a small possible gap on the chart that would be below the candles at this time. I would suspect we could fill that gap while maintaining the trend I drew, as the gap is pretty small. There are numerous gaps below us and people keep asking me about them. Yes I do know they are there and they do slightly concern me. Im still learning the science behind gaps and not all of them fill right away. I believe there has been a gap on the chart for over 2 years at this point so it can happen folks. I believe we have around 4-7 gaps below us at various levels and I need to take another looks. I think we have one around 3500 and one around 6-7k maybe 7600. One around 16k. There are plenty more and I am going off of memory (my memory is the worst memory ever) so please forgive me if I am a bit off. I pay attention to gaps as most fill within 24 hours of posting on the CME which is a quick easy trade (most of the time) As Monday draws near so does 2021. No halving this year but we have seen the results from the halving of 2020. If you have doubts about a post halving pump I have 3 examples of the halving occurring and then approximately 6 months later we spiked. This year we saw an approximate 4x increase from the price at halving and I think the first halving was even better than that. Again I am going off memory so please dont hang me if my info is off. I do know halvings have caused pumps. All 3. That is all we have to go off of and it sucks there isnt more data but the halvings, by design, should be more bullish each time. We cut the supply in half for new BTC each halving. With that in mind if you look at the amount of BTC to be produced after the next halving event it will be 3.125 or something like that. Per block that is so every ten mins (average). This is a trickle compared to the first halving which saw BTC reduce from 50 BTC per block to 25 BTC per block. Satoshi was absolutely brilliant with this simple yet effective design. New supply is reduced and the demand grows. Those that take advantage of this knowledge should be up on their investment. I could go on all day about BTC. I love free money and if you look at the US dollar it is in shambles when compared to sound money like Bitcoin. Institutions are buying it up like candy now. I have heard that there is no sign of them slowing down the buying either even though BTC is well over 20k. This tells me a lot. It tells me people that are in charge of investing these multi billion dollar companies money is bullish on BTC. These guys are hired by these multi billion dollar corporations to increase their holdings through investments and Bitcoin has obviously become a real possibility for big companies when back in 2017 I remember companies laughing at the prospect of Bitcoin. We have Paypal. We have Grayscale. There are more trust me. But from what I hear these 2 entities are buying up Bitcoin almost as fast as it can be mined. I dont think they will buy forever but its certainly a good reason for this bull run too. People hear Paypal is going to offer BTC and it all of a sudden becomes an option to millions of people that use the service (be it custodial or not) But this should speak volumes to the average investor. If Grayscale is willing to buy up BTC at these levels they expect Bitcoin to go much higher than 24300 believe me. Just something to think about. Im sorry I didnt get to share an analysis yesterday. I never feel right if we dont all start the day off with my analysis. I was going to skip today too but we got home earlier than expected so I thought what the hell. I was down in Bracketville Tx which is a stones throw from the border. We even got stopped by border patrol at a station (Everyone had to pull over for inspection) as we were so close to the border. Drug dogs and the works. But they let me and my dad out pretty easily. I saw an old military bunker from WW2 down there where we were fishing. Just had a great time with my dad. Hes getting up there in age so I gotta take advantage of this kind of stuff. We also golfed. Just 9 holes but it was a lovely course. Not the best shape but nice scenery and a gorgeous river that was soooo clear. I walked around with a metal detector too. LOL. Found one penny. Oh well. Better luck next time I guess. Tomorrow is Monday and its time to see if the markets are ready to continue the move up the chart or if the bears will finally get their moment in the sun. Im hoping the bulls can stomp the bears for the remainder of the year. But only time will tell. In the mean time I hope you all have a great Sunday or what is left of it. Make good choices my friends. And always remember....... WTFDIK????
by UnknownUnicorn4304403
4
Bitcoin 4hr analysis 12-13-2020Good morning ladies and gentlemen and welcome back to my daily look into the crazy world we call Bitcoin. Today I have the 4hr time frame pulled up after retaking some support lost over the last week. We will see the weekly close tonight in around 9 and a half hours or 10 and a half. That daylight savings time always messes me up. Regardless of what time the weekly closes this pump we saw this morning sure makes the weekly candle look much better in the eyes of the bulls. More on that in a bit. Anyways I hope you are all making plenty of money! I forgot to reenter and missed this pump... Live and learn. Lets take a look at the charts this morning. I see we beat the 4hr 50 MA. I really dont feel like you have conquered any indicator like the 50 MA unless you climb above the orange line and actually close that candle above the 50 MA along with the following candle. That following candles is referred to as a "confirmation candle" and are really important IMO. If you jump the gun upon that first break of the 50 MA you will find out quick that wicks commonly break the line and a retreat occurs which results in the candle ultimately closing below the resistance. Yes we did break above it briefly. But it didnt stick. This is why I prefer a confirmation candle before entry is even an option for me. After we broke the 4hr 50 MA and confirmed the break by closing a few 4hr candles above it we continued our trek up the charts. The 4hr cloud was less than 200 dollars above the 50 MA . Which was discouraging to many including myself. When resistance is stacked up like that its easy to doubt the bulls but they came through. I guess retaking the 4hr 50 MA gave us the fuel we needed to finish the job and retake the cloud too. Now we are above all of my traditional setup. (4hr 50 MA, 4hr 200 MA, and the ichi cloud) when you are above these indicators its considered bullish and we are above them all in the top time frames (4hr daily and weekly) Now that we beat the 4hr 50 MA and the 4hr ichi cloud what is next? Well all this bullishness could result in a gap below us. When price moves on the weekend a gap is typically the result. Gaps almost always fill right away but there are at least 4 on the chart as I type. One as old as 2 years. I think its even older. These gaps are something we should keep an eye on. Most fill in hours of the CME opening up tomorrow. Id say 95% fill within the first Monday of forming. The next option would be the gaps filling within a week of forming. This typically happens when a gap is bigger than 500 USD. Sometimes those gaps only fill half way or whatever and the rest will fill later. This accounts for roughly 4% and 1% are unfilled gaps. There are like 4 or 5 on the chart. All the way down in the 3k range. I like to keep up with the gaps but I think they are still not fully understood. I mentioned the weekly time frame earlier. The current look of the current weekly candle is bullish IMO. It is technically a doji at the top of an uptrennd but this doji doesnt look bearish. It looks bullish because of the dip. This week we dipped to around 17k and that wick looks deep. It shows me that the bulls were ready to buy when BTC dropped to those levels. We jumped right back up in that same weekly candle. So I am optimistic. This past week tested the patience of traders everywhere. I know people were saying we were going to 12k. Dont let them discourage you. Perhaps they are right? So what? A drop to 12k would be just as much of an opportunity as a rise to 25k. This market is full of opportunity. All you need to do is recognize them. I cant guarantee we break above 20k before the years end but I can not rule that out either. We all know how close we are. 700 dollars away as I type. That is a stones throw for Bitcoin. But 20k is one of the strongest resistances Bitcoin will ever face in its short life I think we can and just might break that resistance down before December 31st 2020. I can not promise this but if we do not break it by 2021 we may retreat down the chart. I think the stock market may take a small hit next year and if that does happen Bitcoin may or may not follow it. I think Bitcoin will ultimately excel no matter who is president. I also want to take a second to thank all of my followers. You guys have been so supportive and understanding. I dont get everything right and Ill be the first to admit that. But you guys and gals have stuck by my side and for that I couldnt be more appreciative. I look forward to sharing my thoughts with you all every day, and I hope you all enjoy reading my thoughts daily. I get chatty while I sip my coffee and that is how I type my analysis daily. A cup of coffee. I am learning more and more the longer I do this which means I can provide you all with more legit analysis. I plan to keep going til I cant do it anymore. 2020 may have been rough on the world but Bitcoin showed us all that you can knock it down, but it will get right back up. Lets make 2021 shine. Cheers everyone! Oh ya, I hope you all have a great day and make good choices my friends! WTFDIK??? TLDR: Bulls are awake. We are above the 50 MA and the 200 MA and the cloud on all major time frames. Things look good. Set a stop loss!
COINBASE:BTCUSD
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-12-2020Good morning again ladies and gentlemen and welcome back to my daily look into the world of Bitcoin. Today I have the 4hr time frame pulled up after rebounding a bit yesterday. I saw a few reasons for that and one was quite interesting. More on that in a few. The bulls have drawn the line at 17600 and told the bears that is as far as they can go. We have started marching back and made it above 18k but the gains could be in jeopardy thanks to the abundant resistance that is still above us. Anyways lets take a look at the charts. ( i got a new laptop so its not as easy to type like I did on my old one and until I get used to it I may have a few errors. I apologize in advance for these) Okay I saw something on the charts yesterday that was pretty cool. Its not really surprising after the fact but when it happened I didnt really expect it. So that spark airdrop occurred yesterday for XRP holders. I moved all my money I had on Coinbase into XRP to take advantage of the drop. I know I may get ridiculed for it but whatever, I did it and sold right back into BTC after the snap shot. No surprise as I guess I wasnt the only one with that plan. XRP dropped 11% immediately after the drop. And Bitcoin went from 18k to 18400 approximately in a matter of minutes. I love seeing the markets work like that right before my eyes. The movement of XRP to Bitcoin caused is the main reason for that pump. It was too much of a coincidence to blame it on anything else. I know I wasnt the only one to jump the XRP ship and sell into BTC right after the snap shot. I rarely see a movement that can be explained with confidence like this one. People shorted XRP and that wasnt a bad move either. But longing BTC is another move people could have made thanks to the mass exodus from XRP to BTC. Okay enough about XRP. I just thought it was cool and would share. I also see a lot going on with the BTC/USDT chart. Lets just start with resistance. Support and resistance is the most important info a trader can use on the chart. Being able to identify support and resistance is key to learning to trade well and resistance is abundant at the moment. We have the 4hr cloud above us (bottom border is around 18900) and just below that we have the 4hr 50 MA at exactly 18664. We also must not forget the hidden resistance that isnt marked with an indicator. But its clearly support/resistance. I drew a horizontal line around 18464. We are knocking on that resistance door and if we can break it the bulls arent out of the woods by any means. But its a start. With all that resistance its easy to see people getting discouraged and sentiment changing. Crypto traders and investors are so spoiled. LOL. We expect everything right away. Believe me Im just as bad as any of you. Anyways support is next. We do have some support below us. And its pretty promising. The uptrend we have been in for months is supporting us and could likely keep us from losing ground. Especially since the 4hr 200 MA is merged with it. When support is merged together it makes stronger support and traders tend to be more confident in going long in a double support situation. I know that I am more confident when I see support overlap. December the 17th will be the final day we can remain in this pattern. We may break out before that but for now I can map out the top border and bottom border and see that a move is likely on or before December 17th. I really wont sit here and speculate which way the market is gonna jump. I will say the bulls have a real shot at breaking 20k before 2021 if they play their cards right. It wont be easy. But Bitcoin certainly has taught me to expect the unexpected. I will say I took profit this year and that is why Im typing on a new laptop. I love me some Bitcoin. As the year ends people may or may not start seizing profit to pay taxes and xmas credit card bills etc. Its just a fact of life folks. I cant promise BTC is going to drop to 3k but it may drop and we should all be prepared for the worst while we hope for the best. Exercise risk management. Make good choices! WTFDIK right? TLDR: I am going to do a giveaway this coming week in the group Crypto Coin Trader on Facebook. I ordered a .999 silver Bitcoin and also have 100 dollars worth of Bitcoin to sweeten the pot. If you want to participate stay tuned. As soon as I get the coin in my hand I will post the contest. Have a great weekend yall!
by UnknownUnicorn4304403
Bitcoin | RED MONDAY (Support & Resistance)We are of the same view here with Bitcoin (XBTUSD) printing a lower high and now closing below EMA10... Prices can drop lower. The immediate support is sitting at $9333 or EMA50, this is the next level to look at if Bitcoin moves lower. Followed by $9174 or MA200. Additional support levels are marked with blue dashed lines. The immediate resistance is now at $9750 or the last high. "Strong resistance" is found right above it in the $10,000 - $10,500 price range. We go bullish above this level (10/10.5k), bearish below. We are looking bearish on Bitcoin right now. Namaste.
BITMEX:BTCUSD.P
by AlanSantana
Bitcoin Going To... 100% Original EMAs Analysis |$10800 or $8000This is 100% original content/analysis... Please hit LIKE to support this post. So, what is going to happen next with Bitcoin (XBTUSD)? Now I share analysis of the EMAs that I learned through experience... Here is the sequence: 1) XBTUSD (Bitcoin) breaks below EMA50 on the 9-May, by the 13-May XBTUSD is back above EMA50. In this case, EMA200 was hit (brown line) on a long-wick drop, so we can say this level was tested or that this level worked as support. 2) Prices move back above EMA50 but result in a 'lower high'. This peak was hit on 17-May at $9979, this is a lower high compared to the peak hit 7-May at $10085.5 before prices dropped below EMA50 for the first time. 3) Prices just broke below EMA50 once more after the lower high... This sequence tells me that Bitcoin will go down and test at the least EMA200 again on the next drop, but since this level was already tested it can easily go lower and test the EMA300/MA200 price range. Based on this analysis, we are looking at $8420.5/$8558.5 next... Of course, the chart can always change. Below we have the Bitcoin Sideways scenario... Would you like to see the full updated XBTUSD trade with leverage? Make sure to hit LIKE... We will share it at 222... Thanks a lot for your support. Namaste.
BITMEX:BTCUSD.P
by AlanSantana
4
Bitcoin 8X Lev. Trade W/ Over 290% Potential ProfitsHere we are SHORT now with XBTUSD (Bitcoin) and we are going on 8X... Let's have a quick description of the above setup. 1) First, we have the higher low which we mentioned in previous articles. 2) Prices are now trading below EMA10 and we have decreasing trading volume, going lower and lower. 3) A recent rejection of prices while they tried to move and close above EMA10. 4) We are seeing long wicks pointing down. These signals are telling us of a possible drop. We also have the moving average lines moving below XBTUSD, prices tend to gravitate towards these lines. We are active on this setup with 8X lev. The total potential profits sit at 290%. If you would like to see the full trade details (buy-in, targets, stop-loss, Liq. price, + additional information), make sure to hit LIKE. We will share the full trade at 200 likes. Thanks a lot for your continued support. Feel free to leave a comment if you have any questions. This is not financial advice. Always build a plan if you decide to trade. Namaste.
BITMEX:BTCUSD.P
by AlanSantana