PurseLance

PurseLance Updated  May 18, 2023

In our BTC/USD forecast and recommendations for taking a bullish position, we employ: 1) a 1-week time frame, 2) a 120-week Simple Moving Average (SMA), and 3) Fibonacci retracements drawn from the low of $0 to the all-time high of $68,991 attained in November 2021. Recently, the BTC/USD pair demonstrated a robust rebound from the 0.236 Fibonacci retracement...

PurseLance Updated  May 13, 2022

To determine possible stepping stones in the incredible journey of our favorite asset class (yes - bitcoin) we look at the bi-weekly chart, and draw fibonacci trend extension from near 0 to the peak in 2019 and to the all time low after that (122, 19690, 3120). We also draw the 100 moving average line to observe how BTC successfully bounced off it 2 times - in an...

PurseLance Jan 19, 2021

PolkaDot is a novel token, which became available for trading in Aug 2020. As of right now it enjoys active development and enthusiasm. We wont go into details of what it is or what novel features it provides for blockchain technology (there are plenty). We will just assume fundamentals are solid, and will guide ourselves by a technical analysis of the price...

PurseLance Sep 8, 2020

On the weekly BTCUSD chart we notice that there is a high chance we wont see much of a drop in price anymore, and need to consider the current dip as a buying opportunity. We do note, however, that to fully confirm the uptrend since 3120 low, we need to see a higher high above 14k. The rising support level is being tested right now. The falling resistance has...

PurseLance Sep 3, 2020

We notice that BTC is currently in the process of testing a confluence of support features on the 1D chart: 1) descending trendline (drawn across previous years highs - thick black line) 2) EMA100 (we use EMA100 to define bull/bear markets) 3) horizontal support at 10500 Overall, I view it as a good opportunity to add to the long position targeting 13k-15k for...

PurseLance Aug 30, 2020

After forming a beautiful double bottom pattern, BTCUSD clears key resistance level at 11600, which coincides with it reclaiming previous rising resistance line as a support. In addition it moves above ema20. MACD prints a buy trade signal as well. We therefore enter a long position, targeting 12500-13000 area and placing stop loss below the recent double...

PurseLance Aug 19, 2020

On a first glance the BTCUSD rally is in trouble. RSI bearish divergence is evident; bulls failed to keep the price above Crucial resistance of 11800. Not to mention 12k. However, on a plus side - ema20 served as a support as we observed a bounce. This bounce from ema20 also coincided with the trend line drawn across recent lows. I am using this as a buying...

PurseLance Aug 12, 2020

I plan to place my bets that we are in the beginning of a parabolic rise of the BTCUSD asset. Lets sketch a trading plan. The trading plan needs to address the following : 1) When to enter. (just happened I placed the first entry at about $9,300) 2) When to take profits (just happened I took some already at $11,100) 3) When to re-enter, or to add to the position...

PurseLance Aug 2, 2020

Technicals: Bitcoin price action broke through the down-trend line (drawn from ATH to 2nd LH) Large sell orders were filled at 12000 and triggered the dip 10588 resistance held two times, confirming positive outlook short-term Fundamentals/news: post-halving value increase fiat keeps depreciating due to continues stimulus influxes nowhere to go for...

PurseLance Updated  Jul 21, 2020

This is my trade plan for KRAKEN:LINKUSD . Multi high top formation is evident, bearish bias is further supported by drop in volume. Recent retest of 8.25 resistance (2 nd rejection) provides an opportunity for an early entry into a short position. Stop loss is placed slightly above one of the previous lower highs at 8.62. I suggest to further add into the...