Jump to content
Eric123

Epic Pennant on BTC Chart

Recommended Posts

Gold spot price didn't pan out so well today either, because WWIII got postponed, and it turned into a risk-on day on Wall Street.

I wouldn't read too much into it. We're all better off, even shameless crypto speculators like me. BTC will recover, I expect.

Share this post


Link to post
Share on other sites

BTC is in the cup section of the cycle, which I expect to lead to a lower high followed by a drop. Notice too that the sub-octaves are indeed acting as S/R.

Cycles1920.thumb.png.c570a93c4551d008940bd7c3404f7d35.png

Share this post


Link to post
Share on other sites
11 minutes ago, Eric123 said:

The bitcoin price is hugging the reverse H&S Line.  Around $8,100 gets us above the down trend.

Also the leveraged longs are closing out down to 34k from a high of 47k

https://www.tradingview.com/symbols/BTCUSDLONGS/

 

1 10 20.png

If longs are going down, accompanied by upward price movement, are people not confident the price will continue to go up?

In digital assets, I'm a little confused at the concept of long vs short because they seem to be inverse of what you would expect.

Share this post


Link to post
Share on other sites
27 minutes ago, AlejoMoreno said:

If longs are going down, accompanied by upward price movement, are people not confident the price will continue to go up?

It is a positive price signal  as the price has been increasing while deleveraging has been happening.

Share this post


Link to post
Share on other sites
26 minutes ago, Raekwon said:

XRP is struggling to break resistances. Interesting to see how BCH and BSV are moving.

What's also most interesting, is take a view at Bitstamp's XRP volume levels (like via Trading View). If you scroll back from now to 06JAN 08:30 you will see quite the astounding change in the previous nearly anemic levels.

Screen Shot 2020-01-10 at 12.19.22 PM.png

Share this post


Link to post
Share on other sites
16 minutes ago, JASCoder said:

What's also most interesting, is take a view at Bitstamp's XRP volume levels (like via Trading View). If you scroll back from now to 06JAN 08:30 you will see quite the astounding change in the previous nearly anemic levels.

Screen Shot 2020-01-10 at 12.19.22 PM.png

Not lost on me. I might swing back into some more XRP . Last time it pumped for about a day and then the buying pressure subsided. I stepped out, because I was trying to do my usual hedge thing, given the tendency of XRP to give back a lot. The overall scenario does look to be changing, which is what I've been hoping to see.

I have to make a decision to hang in for a while though. All the trading I did this last week cost me too much.

Share this post


Link to post
Share on other sites

×
×
  • Create New...