Jump to content
Eric123

Epic Pennant on BTC Chart

Recommended Posts

29 minutes ago, Eric123 said:

Still looking for the completion of the Reverse H&S pattern.  Again the major price points to watch as I see them are $9,500 and $12,000.  On another good note if we maintain these price levels for another 10 days or so we should get a golden cross  of the 50 Day EMA and the 100 Day EMA

1 16 20.png

Yeah. I don't use moving averages in my trading as yet but I worry we won't hold those prices for that long. That 9k-9,2k level seems very important. A lot of people will be shorting there I think, which could fuel a further move up but I may be one of the people shorting depending on how we get there.

Share this post


Link to post
Share on other sites
2 hours ago, djdhrubs said:

If you have a few minutes have a look at this video by Trader SZ. He's good mates with the main traders on Bitcoin Trade Group which I'm a member of, and uses the same price action concepts that the others use.

I wish there were more publicly available videos by one of the main traders on BTG, who goes by the twitter handle Tyler Durden, previously called himself Trader $carface. He is incredible, and virtually every one of the videos he does on BTG is gold dust. Anyway enjoy this one if you have time.

 

Tyler seems like a permabear. Isnt he still calling for 4k btc?

Share this post


Link to post
Share on other sites
3 hours ago, invest2lose said:

Tyler seems like a permabear. Isnt he still calling for 4k btc?

Going by twitter? No he’s not a permabear but he’s of the opinion that the low of the year isn’t in yet. He’s very bullish long term. However he will change his mind of the chart tells him to.

Share this post


Link to post
Share on other sites

I’m kind of surprised how weak XRP increases compared to other coins but when it dumps, it dumps as hard. Not sure if it has something to do with that court case. On the other hand, trend is quite similar to 2017 so from that perspective I’m not really that surprised.

Edited by Raekwon

Share this post


Link to post
Share on other sites

Cycle analysis point of interest regarding my chart...

You will notice that the pivots form triangles (dotted yellow lines).

When there is no trend, ie price is flat, the high-point of the triangle is roughly mid-way between the lows. When the trend is down, the mid-point skews to the left and when it is up the high pivot skews to the right. This can be used as confirmation of the underlying trend and also indicative of it's strength.

Another point of confirmation is the direction of the envelopes, ie. red, green and blue.

Edited by jMusic
envelope confirmation added.

Share this post


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

XRP is mooning!!🌙 

Looks to me to have got stuck near its 2 year low and struggling to reach .24 after having the worst start to 2020 in the top ten alts which had a good years in 2019.  (but it terms of news it has the best start)

I believe it will moon one day, and it might start suddenly.

Edited by Julian_Williams

Share this post


Link to post
Share on other sites
21 minutes ago, Julian_Williams said:

Looks to me to have got stuck near its 2 year low and struggling to reach .24 after having the worst start to 2020 in the top ten alts which had a good years in 2019.  (but it terms of news it has the best start)

I believe it will moon one day, and it might start suddenly.

You mean top 30.

Share this post


Link to post
Share on other sites

Bitcoin is still following the Trend Line more or less.

@Milly238 I don't really see if following the trend line straight to Feb 8.  But I think to compete the revers H&S pattern we should see at least $9.5k to $10k before we drop off.

Craig Wright does not have access to 1.1 million Bitcoin.  No Kidding.  Wright appears to be a psychopath and his followers delusional. 

https://cointelegraph.com/news/bitcoin-sv-drops-40-as-lawyer-admits-craig-wright-has-no-private-keys

1 18 2020.png

Share this post


Link to post
Share on other sites

×
×
  • Create New...