Bigsky_Crypto

Bigsky_Crypto Updated 

Analysis was done in the 30-minute time frame. The percentage for dumps or pumps was for the first 30 minutes after the data release.

Bigsky_Crypto

Is it possible that since the June collapse Bitcoin has been forming a descending triangle? Could we see a repeat of November 2018 when the price of Bitcoin finally broke down from the descending triangle it was forming and dropped about 50 percent? That drop ultimately formed the bear market bottom. How strange would it be to see a similar scenario play out in...

Bigsky_Crypto

I am hopeful that bitcoin could be at a reversal point. I am seeing a nice bounce off of the daily 50 EMA which acted as support and a reversal point during the last 2 pullbacks. Also, this would be a beautiful bounce off of the 0.618 FIB level. I'm watching for a strong close to this daily candle and then follow through to the upside. Also, BTC still has the 4...

Bigsky_Crypto

I am really hoping that bitcoins daily pattern isn't really a parabolic arc (or curve) pattern. From what I have read they do not end well, as they tend to have significant corrections of 62–79% of its price rise (from the top). I'm not trying to be all doom and gloom, just looking at all possibilities On the bright side, a touch of the parabolic curve has...

Bigsky_Crypto Updated 

I'm seeing a repeating pattern in bitcoins price action. This chart is the 4 hour time frame but I also see a similar pattern on the daily which spanned the whole month of August. The pattern consists of three peaks that form a sort of dome pattern with the highest peak in the middle. As this latest pattern completes I am wondering whether it will also conclude...

Bigsky_Crypto

The reason I started looking into this is because I was wondering if there could be a scenario where the price of bitcoin could stay relatively close to $10k but the CME price when it opens on Sunday gaps down passed the price of bitcoin filling the gap from July then bounce back up to near the current price of BTC. The CME bitcoin futures price closed today at...

Bigsky_Crypto

Bitcoin has now completed the Head and Shoulders formation. After coming close to breaking the neckline yesterday morning bitcoin did indeed break it this morning. As a result, bitcoin has experienced a significant drop in price, as of me writing this the price is at $10,598 after hitting a low of $10,510 a little earlier. So how low will the price of bitcoin go?...

Bigsky_Crypto

This is a follow up to my last published idea. With the drop yesterday and this morning bitcoin has now almost completed the Head and Shoulders formation. Since the low this morning bitcoin has bounced but as of me writing this it is yet to be determined if this bounce can turn into a real recovery, possibly taking bitcoin back to and even above $12k. Or is this...

Bigsky_Crypto

I am still watching BTC closely for the possibility that it completes a Head and Shoulders pattern. If it does that could be the catalyst that pushes BTC down to fill the CME gap (red box). It may take up to another week for the pattern to complete. It is also possible that the pattern never completes. It's possible BTC may just keep slowly moving higher from here.

Bigsky_Crypto

So since peaking at nearly $14K about two months ago bitcoin has been stuck in a consolidation phase, ranging from over $13K down to just over $9K. There were a couple times where bitcoin looked like it might be ready to breakout to new 2019 highs only to fail and drop lower again. My feeling is that bitcoin is slowly working it's way down to the yellow weekly 21...

Bigsky_Crypto

Welcome crypto enthusiasts! Today I want to go back in time to look at the beginning of the second Bitcoin 4-year cycle (2015 to 2019) and analyze how it transitioned into a new bull market. I am doing this to try and gain insight into the current (which is the third) major 4-year cycle (2019 to 2023). Looking at the 2015 chart you can see a large consolidation...

Bigsky_Crypto

Welcome crypto enthusiasts! I wish I had some brilliant market insight to share with you but I'm afraid what I am sharing here is probably more likely obvious to many already. Having said that though, I will share my opinions anyway. Looking at the chart I have published you can see that Bitcoin is once again approaching a very important medium-term trend line. It...

Bigsky_Crypto

So, I really hate to be so negative but when I look at the weekly BTC price charts on both Bitfinex and Coinbase I see continuation patterns forming. I feel that the period BTC has been in since early December has been more of a pause to consolidate before continuing lower rather than building a base at a bottom. Before continuing I want to say that even though to...

Bigsky_Crypto

PSX has completed an inverse Head and Shoulders pattern but failed to breakout above the neckline. It's possible that this could be due to the imminent earnings report which will be released BMO on Friday. In my opinion investors - traders are waiting for this release before entering a long position. PSX is once again approaching the neckline area and a nice beat...

Bigsky_Crypto

Hello, fellow crypto enthusiasts! Are you still out there? Of course, you are, you are not going to let a 40% to 50% dump in the price of cryptos scare you off! Having survived this bear market will only serve to make you stronger in the future. I am once again going out on a limb here to speculate about the possible future price action for Bitcoin. The last...

Bigsky_Crypto

Hello crypto enthusiasts, I appreciate you taking the time to check out my chart. This chart is a recreation of a chart I created back on March 31st, 2018. At the time the chart was included as an image in the analysis of another chart that I published. The chart I published was of the 2013 to 2015 Bitcoin market cycle, because I included the 2017 - 2018 chart as...

Bigsky_Crypto

Okay, looking at the SPY 1-hour time frame it looks to me as though there is a good chance that an inverse head and shoulders pattern will be completed. After a nice bounce back from the low set on Oct. 29th the markets are pulling back today for a variety of reasons. One reason was Apple earnings, another was trade news that came out which the market didn't like,...

Bigsky_Crypto

I believe Twitter has a strong possibility of completing the inverse head and shoulders pattern. It has made a strong move upward over the last 5 sessions and is most likely due for a rest or pull back. I believe this pull-back will form the right shoulder completing the pattern. My feeling is that if this pattern does not complete it will be because Twitter does...