SOL has wicked into the 78.6% zone, came back out and hasn't been back yet. It looks like we may get a retracement back to the zone. We have a low that is lower than price has been since Dec 10th. If price does retrace, that would be a place to look for an entry.
I need price to make a lower low or a higher high. It recently visited teh 78.6% zone again and went out but has not been far out of the zone this time. It's almost there again so maybe this time it will fall through. I would wait to see what price does before trading ETH at this time.
DOT has broken down out of the 50% level twice but the 61.8% seems to be holding pretty well on the daily. For that reason, I am only showing the relevant part of the chart in this image. It does not look like price is going to drop below the $26 level. It has been there twice in the past few days. However, we are looking for a higher high around 31.65 before I...
BTC is nearing the 78.6% zone again. It already retested it once. We don't have a lower low yet. That would be a good indication that price is still coming down. If we get a close around 46k that would show some solid downward momentum. Otherwise, price may just go right back up.
I am using the Daily chart because the Hourly does not give a good picture. Price is currently back in the Daily 78.6% zone. It is falling again so the entry may be found on the lower time frames. Look at the M30 or M15 for a good entry. Price went past the 88.6% level and then came back into the zone, went pretty high up into the zone but did not make a new...
BTC is bouncing of a previous level of support (The RBR to the left) which was also a previous level of Resistance. This is also the current 50% zone of the longer term trend. LASS has momentum to the upside on the lower timeframes but is in the middle of the range on the H4 and Daily. And there is no momentum. Price may move up for a little while but look for it...
Price is in a freefall right now. There are a few places it should stop. The first place is a previous retracement Seller’s Last Stand Zone (SLS or 78.6-88.6% Retracement Level) between 51,384 and 50,215. Price broke through this as I was typing this up. It is holding but price took a fast train down over $3,000 in the last 15 minutes. It has now moved down to...
BTC is consolidating. More than likely, it is the news of COVID that is suppressing it. There isn't any news I can find that is negative toward BTC. The DXY is coming down but it is not having the effect on Bitcoin. BTC Dominance is still sideways too. The Daily and H4 LASS are both in the middle of the range with no momentum. All this contributes to the sideways...
Price is currently playing between the 50EMA and the 8EMA. We didn't get a higher high before the retracement and you can see in the descending channel that price still did not break out of it. News events are affecting the run at this point. FUD brought on by misinformation from misguided news outlets worldwide. The DXY is falling predictably as well but the...
BTC is no longer on sale lol. No Cyber Monday apparently. Saturday was a really strong move out of the 50% zone and has support from the Stoch and LASS. DXY is coming up a little today. And BTC Dominance is finally near a new high around 43%. I expect a small retracement around the 50EMA before price continues in the uptrend. I also made a few changes. I am using...
So, I am trying to use a line chart now instead of candles and wicks. We will see if this is more accurate. Right now BTC is retesting a 50% zone. I think we may see a drop into the zone overnight. There is a level at 52,700 that might work out as a reversal zone. but I would also wait and see if it hits the 200EMA which would be around 49,900. BTC dominance has...
Black Friday Sale BTC Report lol. So it's the Friday after Thanksgiving here in the US and BTC is on special pricing sale! There may be a small drop over the next few days but BTC is on the clearance rack. Get it while supplies last! I don't see why BTC would jump out of this zone right now. I really feel like it is coming down to the two reversal zones I have...
Wednesday Night BTC Report. Driving last night so didn't have time to send it out. Tonight looks like BTC is on the way back up even though we have a bearish colored candle. The candle itself is actually bullish and based on the LASS and Stoch should continue up. I expect price to come out of the 50% zone, retest at some point overnight and then continue the...
Monday Night BTC Report. Cautious optimism. Price is likely to consolidate where it is right now in the middle of the zone or it may move all the way to the bottom of the 50-61.8% zone where there is some strong support. The DXY is moving up after a strong move from yesterday's candle. It still has a way to go even the the Stoch shows it as being overbought and...
Sunday Night BTC Report. BTC Surprised me overnight. Still coming down but is probably going to retest the 50% before heading back up. The stoch is oversold but hasn't started back up yet. LASS has momentum on the daily but the H4 is still overbought. DXY opened but is heading down slightly. BTC Dominance is barely moving up too. Slow going but we should see price...
Saturday Night BTC Report. Price should start coming up soon. May wick down to 58,500 but we should see a higher close by tomorrow. A close of 60,500 is likely by tomorrow. That is also where the 8MA is currently. The DXY is closed so will have no effect. BTC Dominance is slowly coming up but is still below all the EMAs and needs to really jump up to be...
Friday Night BTC Report. Well, I hope you got in earlier or even last night. BTC had a good move up today. Looks like price has exited the 50% zone and is going to continue up. May drop a little overnight or might just consolidate. Should see 60k tomorrow sometime. There is structure there that will probably pause price. DXY is at it's highest since July of 2020....
Thursday Night BTC Report. Price is hovering around the bottom of the 50-61.8% zone. 55,300 should work as a support level overnight. There is a very strong structural component at this level. A Rally-Base-Drop-Base-Rally is from 55,300 down to 53,500. Get ready for entries coming up. LASS is oversold on the daily and h4 and the stoch is nearly oversold. Price...