Jeff_Cryptopop

Jeff_Cryptopop Updated 

The flag already has two highs and three lows, meaning it's definitely a flag now. Beware of when price rises and touches the descending blue line. The last two hits brought a severe reaction, much more so than touching the bottom of the flag. I would've been a convinced 50/50 on this since the flag is symmetrical, but the way it responded to that blue downtrend...

Jeff_Cryptopop Updated 

AMC has been accumulating for another squeeze up to the $77 area. It was already poised for breakout when I noticed it had also formed an inverted H&S inside the pendant. If it doesn't break immediately, it may put back a little (probably to the midline) for another run. Of note two days ago, all of the mainstream finance site began to say "Take your profit and...

Jeff_Cryptopop

BTC topped at 34800, then created a right shoulder of a smaller H & S that triggered last night. But whales usually signal the end of selling with a really large red volume candle. The drop this morning produced a long red volume candle, but not incomparable to the price candle, so I don't think this is the end. Correction? End of the rally? I won't try and call...

Jeff_Cryptopop Updated 

BTC is currently retesting the trendline of the bearish wedge it fell out of. However, it remains in the uptrend channel. (I'll add a separate chart for that below.) Several swings on the 1H chart are showing bearish divergences, whether you call that a triple or merely a double, it's still a stronger reversal in the immediate timeframes than simply one bearish...

Jeff_Cryptopop Updated 

In the next six weeks, BTC price will have to make a decision, whether it is to rocket out of the top, or jump off of a bridge. The concerning thing is that a bearish wedge tends to break to the downside far more often than up. Like 80% of the time or more. Oh, but you were told BTC was definitely an ascending triangle that I've seen so many times here recently?...

Jeff_Cryptopop Updated 

After faking out through the top and falling back inside the triangle we've been moving in, BTC dumped yesterday. It has spent the last few hours retesting this triangle. Note these are daily candles, so don't expect that just because it shoots up inside for a few hours that it has regained the triangle or that it has automatically failed the retest because price...

Jeff_Cryptopop Updated 

During this recent drop, while the price creating a lower high, the RSI created a higher high. This is an indication of a continuation of the downtrend so beware buying here. It's already sold off multiple times and simply looks like a retest of former trendline that we fell below. More about divergences: www.babypips.com

Jeff_Cryptopop Updated 

Yesterday's rally was a nice expected pump as BTC dropped into the "reloading zone," aka the bottom of the descending channel that has been traded since it topped this year with a lower high from its all time high. (Echo bubble anyone?) It was expected to drop to around 7035 and bounce but it bounced slightly sooner and appears to have hit a temporary top. Moves...

Jeff_Cryptopop Updated 

In the face of the looming bearish downtrend, BTC has risen in the past couple days. Sentiment has become bullish due to SEC actions in the States. However it is of note that the rally began immediately after falling from a previous H & S on the 1H, dragging along close below the neckline and testing it twice. It has remained under it ever since but never made its...