TheTravel1ngTrader

TheTravel1ngTrader

It's no secret Bitcoin has been in a long descending channel since last year. Bitcoin has hit support and resistance so many times that this trend is as real as a heart attack. As we know, descending channels usually break to the upside when the trend ends. Also the Bitcoin halving in May is coming up and we usually see a gradual incline leading up to, and after...

TheTravel1ngTrader

The LMACD indicator looks to be even more reliable on Bitcoin's logarithmic 1D chart. You can copy the script of the indicator here: //@version=3 study(title="Logarithmic Moving Average Convergence Divergence", shorttitle="LMACD") // Getting inputs fast_length = input(title="Fast Length", type=integer, defval=12) slow_length = input(title="Slow Length",...

TheTravel1ngTrader

Bitcoin is showing a very bullish signal on the weekly: the cross between the 55 EMA and the 100 MA. This doesn't happen often but when it does, expect Bitcoin to continue its monstrous dominance, potentially surpassing 2019 highs. We certainly might retest the 50 MA on the weekly in the short term, especially if the low volume game continues, but if this golden...

TheTravel1ngTrader

I've been railing on for weeks that #Bitcoin BITSTAMP:BTCUSD was going to go back down and retest the 21 EMA on the weekly (around $8900 now). It would be weird for it not to! Now we look at the Total #Crypto Market Cap CRYPTOCAP:TOTAL to corroborate our Bitcoin story. It is forming a head and shoulders on the weekly (left graph). We will most likely break...

TheTravel1ngTrader Updated 

BINANCE:BTCUSDT Bitcoin is showing a confluence of bearish signs in the short term. A confirmed double top followed by a confirmed bear flag on the 1D. Best case scenario is we see a rally after a one-candle confirmation of the bear flag and a bounce off of the .382 Fib level. The more likely scenario is a retracement to recent swing lows of $9100. We bounced...

TheTravel1ngTrader Updated 

S&P 500 is at an inflection point once gain. Will it break all time highs here? Will this retest of the key resistance level finally take us over the hump? If we take a look at the weekly SPX chart from 2015-2016 we can see a potential fractal playing out again in 2018-now. SPX hit an all time high resistance and got rejected a few times to form an inverse head...

TheTravel1ngTrader

We started scaling into BNB/USDT back in December 2018 after hitting a swing low of $4.50 - the same support level we saw in December 2017. Once it broke the 50-day MA it never looked back. BNB has been on an uptrend since then gaining 677%! In May of this year we saw a 19% correction on BNB, which formed a textbook bull flag with the classic downward slant. We...