TaoXBT

TaoXBT

Keep it simple. Block out the noise. Let's see what happens.

TaoXBT

BINANCE:ETHUSDT.P Has broken down and is currently flirting with golden pocket zone of its last leg up. I believe we're likely to trade sideways as btc recovers before one final leg down. The entire market remains incredibly bullish. These support zones should be seen as buying opportunities. Next leg down will take us to the .618 of the entire move up from our...

TaoXBT Updated 

Everyone is overly bullish and thinks printing money is this easy. ETF pump has been priced in. No new major events until halving. Chart is throwing bearish divs on all time frames on lower volume. Look for a retace to that pretty green box down there at around 50k (I expect this occur before halving) Then, when all the kiddos get shook, we start real alt season....

TaoXBT

Just a thought. Macro still bearish from ath but etf news has helped with bounce. Let's see how it plays out. Short term correction then possible new leg up

TaoXBT Updated 

Currently drinking. No explanation. Making it longer for trading view

TaoXBT

Not writing much on it. Sharing my long scenario for BTC. Very heavy resistance overhead but it looks like a very clear bullish pennant forming from its previous run up. Currently attempting to break out, ultimate goal would be at 35-36k with TP zones at previous local high of 27.8K and 30k~ respectively. Look for volume on breakout of this wedge pattern. There...

TaoXBT

I don't believe we've completely finished wave 3 of our corrective C. If this plays out, we will see one more low before wave 4 and the inevitable wave 5 back down either for a double bottom or a deeper correction into low 2K's.

TaoXBT Updated 

Not going into too many details. Rising wedge has been building ever since our initial recovery from 3k. Current bullish pennant near the top of the wedge shows up possibly printing a fake breakout of the rising wedge (Somewhere around 15k) where I believe we'll turn back around due to a massive bearish divergence present on the weekly which will also be apparent...

TaoXBT

BITFINEX:BTCUSD H&S Has formed nicely in lower time frames. This may be the catalyst we've been waiting for all day which will drive us down to about the 6.3k Area. 6.1-6.3k Is a nice area of support so it would present us with a nice buy opportunity should the neckline break. and target hits. Stops for the 6.1-6.3k buys can be set at around 5.8-5.9k. If a...

TaoXBT Updated 

BTC Appears to be forming a H&S on the 1 HR Time Frame. The 200 EMA (Red Line) Appears to be supporting the price action at the moment. Should it happen to close below the 200 EMA I expect a rapid sell off to the neckline. If we close below 8,350 I will open a short position with a tight S/L Just above the neckline. R:R seems favorable under those conditions but...

TaoXBT

First off, let me say that I do realize that an iH&S is forming on a much larger picture. Let me also state from facts: - BTC is still in bear territory after failing to maintain its close above the Downtrend line from 20k ATH - Overall market sentiment is still bearish - We continue to make slightly higher highs on lower time frames with little to no volume -...

TaoXBT Updated 

BTC Seems to be forming the right shoulder of a H&S. I realize that other analysts are providing iH&S, which is also forming, but we are still technically in a bear market given that we have broken back down under the Downtrend line from our ATH at 20k. Will the price fall? We have the 55 EMA and 200 EMA coming up to meet the price near the neckline which will...