CarpeMomentum

CarpeMomentum

BTC is making moves to get ready to break the first barrier of the pressing downward channel. I am bravely turning long and anticipate the next upward ralley. So I created a scenario 3 on my continued prediction journey. Scenario 2 is still very much in the picture. The market has to make a move and with global markets in the red and war on the horizon it will tip...

CarpeMomentum

My short view is being confirmed strongly by the Bitcoin bears today. Of my two scenarios (see related ideas link) the downward scenario 2 is now confirmed. We can all only speculate how far the retracement is going to go. $5,700 seems very likely. Without strong market or buyer side signals we may even see the $3,215 level tested again. My crystal ball says we...

CarpeMomentum

As I stated Sept. 27, Bitcoin very much is in a clear downward trend on the USD weekly chart. Tellingly the recent massive breakout above the $10,000 range didn't hold on the weekly. The two scenarios are still intact. So either BTC will breakout of the triangle and downward trend or it will be stuck in winter mode and the bears will go hibernate BTC into and...

CarpeMomentum

Looking at past Fib retracements of Bitcoin it appears Bitcoin likes to retrace past gains almost fully (80%+) to come back stronger. The decline beginning of 2018 and 2014 show that impressively. There is a clear downward channel right now to be observed for Bitcoin if it does not break out of it soon, it may well be doomed for the $3,000 range again or even...