www.blockchaincenter.net Investors’ confidence in Bitcoin (BTC) has somewhat dwindled as the king of crypto fails to go above $69k. However, the Bitcoin Rainbow Chart revealed that BTC was actually mimicking its 2020 trend post-halving. The revealed that after months of its third halving, the Bitcoin Rainbow chart revealed that the coin entered the “BUY” zone....
Looking at this Daily BTC/USD Bitstamp chart from around Oct 2020 to 29th July 2023 (today) we can see a few obvious chart patterns that BTC is still in on this daily chart. 1) Ichimoku Y-Wave Pattern AKA a Broadening Wedge Pattern/Megaphone Pattern 2) Ascending Channel Pattern 3) Descending Channel Pattern 4) Rising Wedge Pattern We can clearly see the...
VeChain update with my opinions and what i plan to do if my opinions are correct: Here is a closer look at the 1 day VET/USD chart: While VET did have a nice move up from $0.0152 to $0.032, that impetus is gone and VET is now making Lower Highs and Lower Lows. Notes: VET is still in its Descending Channel Pattern. VET is back in the Bearish Zone of the...
After the yesterday's post for BTC, I would like to add another one based on Volume Analyses. I'm using two indicators: Trading Volume and Chaikin Money Flow (CMF). BTC has been moving in a descending channel since October 2021 where the bear market had started. The downtrend is supported by continuously increasing (selling) volume. In the same time, the CMF...
Looking at the BTC/USD 1 week chart, we can see that the 50MA (Yellow Line) is now getting really close to the 200MA (Red Line). A crossover would signal a Death Cross on this 1 week timeframe. Looking at the entire history and available data on this BTC/USD 1 week chart, we can see that the 50MA has never crossed under the 200MA on this 1w timeframe. Note that...
"Ah, freak out! Le freak, c'est Chic Freak out!" I made this chart in an attempt to counteract the various freak-out fests I have seen on Twitter and Telegram these last few months. I am not sure what charts the Freak-Out Crew (FOC) are watching, but they can't be the same ones as I am looking at today. The cycle low is in and the bottom is being made, what's...
Today, we'll take a look at the CMF indicator with my own custom settings, which has been showing some interesting data since the inception of bitcoin . We entered an accumulation phase whenever we fell below the 0 line. Money began to flow back into the market after the accumulation. In general, we are accumulating near/below the zero line. Anything above 0.25...
Not sure what to think of this indicator. Right now the only conclusion I would draw is that it is at an area of opportunity. You could DCA in your entries.
Looks like the weekly CMF is still on its way back up. Back in March 2020 it broke through the 0 lien and then came back down hardcore - something like this could happen again. Trade carefully - risk management!
Looking at the Trend-Base Fib Extension we can see that BTC found some support from its 0.5 Fib Level at $30,329. If this support level fails then the next Fib Levels are 0.618 at $26,100 and 0.786 at $20,077. Looking at the Bollinger Bands, we can see that BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 week timeframe. Note...
Let’s have a look at BTC/USD using as many indicators as i can. The purpose of my post as always is not price predication but more education on what these various indicators and squiggly lines are indicating. As you can see on this Bitstamp 1d chart, BTC is in a Descending Triangle Pattern ‘potentially a Bearish Continuation’ as well as a Falling Wedge Pattern...
VET an in-depth 1day chart analysis: If you look at my previous 3 VET charts and press play, you can see that VET has dropped out of its Symmetrical Triangle Pattern on the 1d timeframe. VET is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Not that the Middle Band is moving downwards and so is the Upper and Lower...
I have added a Schiff Pitchfork Pattern (A,B,C) to this 1d timeframe. As you can clearly see, BTC tested the Schiff Pitchfork Median Line 7x as support and then that support failed on the 8th time and BTC has closed well below its Schiff Pitchfork Median Line. At the moment, BTC has found some support from its support area highlighted with White Dotted Lines...
CMF Bitcoin top 150-200 days from today Idea measuring last tops
BTC - let’s have a look at the 1 week chart for a change: Note that BTC is still above its 50MA for this 1W timeframe. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1W timeframe. Note that the Upper and Lower Bollinger Bands are looking very close to expanding, at the moment, if they do expand, this would be expansion for the...
VeChain 4hr Chart Update As usual with the massive Longs Liquidation yesterday, our beloved VeChain got hit with one of the worst drops compared to other assets, basically erasing all the gains from 31st August. More on this later. VET is still within its upwards Pitchfork Pattern (A,B,C), it actually dropped all the way to its lower blue support line and...
Closed out last Uber trade with profits. Re entered here as I noticed 11/19 calls sweeping. Indicators showing bullish divergence and trading well below respected AVWAP. Looking for a reversal and move back up towards the AVWAP/middle of channel. Run up to earnings also in play with the 11/19 11/19 45C 1.77 avg 21K OI 11/19 47.5C 1.2 avg 4K OI
The start of the Covid-19 pandemic kicked of a volatile time in the stock market with a 34% market decline in 24 days. This marked a clear new leg in the market and allowed one to start an Elliott Wave mapping. In this chart, I begin with the classic A-B-C correction wave as the market declines and follow it up with the 1-2-3-4-5 impulse wave of the new Bull...