Crypto is hard to read, simplify your charts, deep breaths
We know that Trading View is full of very good analysts that know their way around a chart. But it wouldn't be surprising if BTC and other alt-coins are still out of their comfort zone. This is totally understandable considering crypto presents a fundamental structure that is based on an automatic protocol, each crypto has a different protocol, and those protocols all interact with BTC in different ways. This is very different from the stock market or any economics you've ever worked with. On the micro scales, it's not difficult to carry-on as usual, but not fun when BTC drops into oblivion and drags your investments down with it because of some MACRO scale swing. We truly believe that if you want to understand alt-coins you need to understand BTC. If you want to understand BTC, you need to be thorough and learn from someone who knows what they're talking about. There is more BS in crypto than you can shake a stick at.
Understanding BTC is more of a science than it is a skill. Learn from seasoned vets.
Reason for the post:
- We wanted to make this post to introduce ourselves.
- To let you know that we're all about tidy charts / cutting the BS
- To show you what we've been working with.
- To show you that we might have got a lucky swing at a Cup & Handle
This chart is the one we've been working with for basically 6 months. We'll reduce this down much as we can, because we know you're busy.
Effectively what you're seeing is a Bear Flag that's happening on the 1-Week/Month charts, which is forming a main support on an upward angle angle. (same angle on the resistance too). The price of BTC and its underlying assets rifled their way through the bullish gains of 2021. Since Late October, the market has cut through all it's bullish fib-channels but eventually started the slow down in the last couple months - this has the makings for a run-of-the-mill C&H. There are other possibilities of how this plays out, but this is the most likely at this point. If there's a failure point which makes this chart obsolete, we have back-up drawings to stay adaptable. (Labeled, grouped and hidden, this is the way!) Anyhow, what this chart is essentially saying is, ATH @ 69,0000 didn't feel right, let's push the needle one last time. And it would be right by saying that! If the 1-Week/Month macro is calling for a Bear Flag, it would want one last crack at an ATH.
Pretty simple, but let's not get ahead of ourselves. At this point in the game, there can still be some unease around any corner. If we are, in fact looking at a simple Cup, we added some Fib-retracements as "points-of-interest" for you to consider..Most of the time, crypto is a technical mess, but don't get bent out-of-shape if an easy chart presents itself - take the W. It doesn't ALWAYS have to be complicated.
We'll give you more updates as time progresses, but we wanted to get this out before people fomo-panicked into a position without considering this simple idea.
Thanks guys, happy trading. (Just so you know, "WE" is referencing something we've been working on and are likely to be bringing some of our twitter traffic through Trading View for our crypto followers)
Understanding BTC is more of a science than it is a skill. Learn from seasoned vets.
Reason for the post:
- We wanted to make this post to introduce ourselves.
- To let you know that we're all about tidy charts / cutting the BS
- To show you what we've been working with.
- To show you that we might have got a lucky swing at a Cup & Handle
This chart is the one we've been working with for basically 6 months. We'll reduce this down much as we can, because we know you're busy.
Effectively what you're seeing is a Bear Flag that's happening on the 1-Week/Month charts, which is forming a main support on an upward angle angle. (same angle on the resistance too). The price of BTC and its underlying assets rifled their way through the bullish gains of 2021. Since Late October, the market has cut through all it's bullish fib-channels but eventually started the slow down in the last couple months - this has the makings for a run-of-the-mill C&H. There are other possibilities of how this plays out, but this is the most likely at this point. If there's a failure point which makes this chart obsolete, we have back-up drawings to stay adaptable. (Labeled, grouped and hidden, this is the way!) Anyhow, what this chart is essentially saying is, ATH @ 69,0000 didn't feel right, let's push the needle one last time. And it would be right by saying that! If the 1-Week/Month macro is calling for a Bear Flag, it would want one last crack at an ATH.
Pretty simple, but let's not get ahead of ourselves. At this point in the game, there can still be some unease around any corner. If we are, in fact looking at a simple Cup, we added some Fib-retracements as "points-of-interest" for you to consider..Most of the time, crypto is a technical mess, but don't get bent out-of-shape if an easy chart presents itself - take the W. It doesn't ALWAYS have to be complicated.
We'll give you more updates as time progresses, but we wanted to get this out before people fomo-panicked into a position without considering this simple idea.
Thanks guys, happy trading. (Just so you know, "WE" is referencing something we've been working on and are likely to be bringing some of our twitter traffic through Trading View for our crypto followers)
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