chillcrypto

chillcrypto

On the top chart I've drawn out the upward trend (based on 1hr candles) shown here in 8hr timeframe. The current upward trend began in early December. I've added for reference, the horizontal support drawn from the 2017 high. From an 8hr point of view, we are in a healthy long term up trend regardless of the recent pullback. In the bottom chart, I've used...

chillcrypto

I neglected to update my charts but that's ok as I am HODL'ing here and hadn't planned on adding new position until it is clear we are moving higher. For now, we seem to be confirming the upward trend and area of support.

chillcrypto Updated 

I draw out some very basic resistance and support lines, including the current upward channel / wedge. We just can't seem to get enough momentum over a very stubborn area of resistance. Time to plan your moves. It seems the consensus is a break to the upside for an ATH, followed by a failed re-test of the area of resistance. If so then we'll have to play this...

chillcrypto Updated 

It appears that we briefly touched the upward trend and resumed up, appearing as we are attempting to confirm our new support level and ready to resume up. It is also possible this new support level is not yet ready to confirm and we head back down into the upward channel to confirm later this week. It definitely appears that we are ready to set new ATHs this...

chillcrypto Updated 

Interesting pattern to note as we move up the current channel. A prior line of resistance and support around 55k is near the top of the channel and a brief sell-off would mimic recent price action. Whether that happens at 55-56k or whether we push up to 59k or beyond, I'll leave up to others to predict. But certainly it appears we are firmly moving up within this...

chillcrypto Updated 

Another non-scientific observation, cloning two prior thrusts up will put our current target at the ATH ~2033. The two prior pushes upward subsequently backed up and then pushed higher from there. I'm not FOMO'ing into a trade assuming this will happen, but I am going to focus on those points. It's been pointed out that Ethereum needs Bitcoin to play nice and...

chillcrypto

I scaled back my gold and put that money into Ethereum several weeks ago. Gold has been working its way down and although is showing signs of life (along with silver), it doesn't yet pose a big opportunity. I'll be watching the current up-tick to see whether we break out of the channel permanently, or whether we then resume down back down into the channel.

chillcrypto

I've been holding onto gold far too long in this downward trend (the last time we appeared to be breaking out of the channel). I've been scaling back on this downward trend line. Gold and Silver have to reverse at some point right? Not so far they haven't. There is a lot of chatter about a 'long overdue' reversal in gold and continuation up, but at what...

chillcrypto

For now all is quiet as we validate this upward channel. The low targets of 43 are still there. In the near term, buyers are out there. It will take a very strong move to spark any significant movement either up or down. News like 'big whale bought 10mil in Bitcoin' and yes for us that sounds like a lot of money, but for the whale that just keeps the price...

chillcrypto Updated 

We previously fell out of the upward channel and have been trying to break back in along an upward line of resistance. We'll see where the bottom of the channel is here by the end of the week. Up or down, trade at your own risk! No FOMO!

chillcrypto Updated 

Bitcoin broke out of a descending wedge, up strong today reaching an area of resistance. If we are in a new upward channel, bottom appears to be around ~43375 if we don't push up through ~53375 first. I hesitate to trust this upward thrust right now. The whales make a killing when they get people to sell Bitcoin at a 10% discount. Why not keep it going. Trade at...

chillcrypto Updated 

There is still some downside risk here but not much more. If you've held on this long, then likely it is worth hanging in there for a continuation up in the channel. FWIW I considered adding some position here today. We'll see what would have happened if I did. All the best in your investments. Take care.

chillcrypto Updated 

BLOK is an Amplify ETF that includes Microstrategy, Galaxy Digital, Silvergate and other crypto-related assets. BLOK does tend to follow Bitcoin price action but in a wider view, potentially has more upside due to the businesses that are poised to take advantage of the broader crypto boom. Obviously with the ETF comes some risk, so I recommend reviewing the ETF...

chillcrypto Updated 

We seem to now have a near-term limit on our upward trend in place. The current behavior seems more included to move down to 42 vs. moving above 47. May be time to scale back some here. Trade at your own risk.

chillcrypto

Up strong this morning. Ethereum is needing to re-test here to establish a new uptrend. Working on a new Eth/USD pair and so rebuilding my charting - but change is good. The whales are out there looking for the small fish. Stay sharp!

chillcrypto Updated 

I had to redo my BTCUSD chart as the feed here stopped updating. That's ok though as its obvious now that we need to pause and look for where we are headed. Based on the current trajectory 41500 and 39000 are previous areas of resistance and support. Now, we could increase momentum downward or spike to a lower support level, and if you have the desire, set your...

chillcrypto

Ethereum has struggled along with Bitcoin and has pulled back from its recent highs. That's ok. Everybody needs to take a breather. If you're like me, I've enjoyed accumulating. Could Ethereum pull back more? Sure. But a large pullback is unlikely unless we have a severe global event or a network glitch of some sort. Anything could happen obviously and there are...

chillcrypto Updated 

It appears that we are in the very near-term testing an area of support. Whether this results in an area of consolidation, possible wedge pattern, or whether we are simply holding hear before breaking lower, it is unclear. We've had some companies coming in to buy that like the prior Elon pump, we may see the price supported at this level in the near-term until...