magnus_turing

magnus_turing

Concerned? Seems like a downward sign to me given the slope of the line approach the 100 week EMA.

magnus_turing Updated 

Been a while since I posted my thoughts but I am in the midst of a trade that's finally going my way. I've been long now for quite some time and back in the profit, trying to time my exit. The reason I'm in this trade is because of the recently hit TD Sequential 9 on the Weekly Chart. I am noticing that on lower time frames we are seeing an exchausted TD...

magnus_turing

Assuming we see a close today below 6450 we are setup tomorrow to see a slight pullback on lower Sunday trading volume (as is the current trend for weeks). If we see tomorrow's close below 6302 we are in a nice territory to see a reversal next week to kick off at least a 1 to 4 day of slight upward momentum before the market decides to pull back further or make...

magnus_turing

Even though a few days ago we saw a TD Sequential 9 on the daily chart, we are now seeing a forming rising wedge that is hard to ignore. Given these completely contradictory signals it could be a reason why we are seeing a lack of confidence to trade. Volume is at a yearly low and falling every 24 hour period and additionally week over week. This will have to...

magnus_turing Updated 

Looks like we are about to close on a Daily 9 TD Count. Good buying days coming in our very near future as it's likely we'll be seeing that reversal soon.

magnus_turing

The basic trend line from December through recent highs provided support this morning to the price of BTCUSD We saw a quick test of the 7200-7300 price point before a quick reversal back to 7500. We will need a strong confirmation to the north to see true reversal / correction from our major downturn this week. Otherwise our next price target is the Fib...

magnus_turing

It isn't looking good for ye old BTC price action right now. We are currently hitting a trend support from December. Just broke through a Fib line and it looks like there is room to go down from here. I don't take short trades, and I'm going to hold my Long position through this business. I'll be adding to my long at a deep discount shortly though.

magnus_turing

I'm predicting that within 15h we will see a pump no higher than 8599. I do think that we will see a closing weekly candle this week below our open (showing a down candle) and it's forming a nice Hammer Reversal candle which resets Tone Vay's infamous TD Indicator count back to a 1 for next week which coincides with Consensus. I'm predicting a volume spike on...

magnus_turing

Death Cross Coming in approximately 5h on the 1hr chart. Next price target below 9047 then air down to 8450.

magnus_turing Updated 

We have a flat top forming and already one penetration of resistance a few hours ago. Short term we are nearing another possible breakout upswing with next fib lines at 9040, 9090 then 9150 and finally resistance trend line at 9220. Considering closing out a long position in anticipation of some lower prices after this move. I was absolutely wrong on my...

magnus_turing

I've been trying to see what it is that is causing our price movement and I suspect we are seeing some self fulfilling TA prophecy here. First I added a Fibonacci Retracement to the chart. I've noticed that each time we spiked down recently we touched a trend line, which if you notice it correlates quite eerily close to the 100%, 78%, 61% and 50% lines in the...

magnus_turing

It seems we have two trends controlling the price of BTC on a short term timeframe. We should see a breakout of the downtrend / confirmation of the upward trend within 1d 4h. There has been a significant drop in volume as it seems quite a bit of consolidation has happened around 9300 so long under that price if you are a believer in the short term bullish...

magnus_turing

Looks like we've had 8 green candles, next is gonna be a 9th green followed by a downward red or a 9th red. Statistically high likelihood of at least some sideways trading action on a 15m chart or a down / pullback. We are also trading at the top of the bollinger band now for numerous candles. I have long trades layered from 9250 down to 9000

magnus_turing Updated 

Let's see if we see a true mirror of the price action inverted from a few weeks ago. I think this is more useless hope than tradable intel. I'm still Long.

magnus_turing

Some things I noticed about the pull back are that we are not in a wedge, but more of a channel set by the height of the previous pump a few days ago. The drop was nearly equivalent, but the volume has really increased. It seems the price wants to move north even with this drop. The bears lost steam in the 8800-9000 range and we are trading well above it now....

magnus_turing

I'm still long and starting to consider my scale out strategy however ideally this momentum will be needed to break through $10k. Seems like a healthy pull back from where I sit.

magnus_turing

Looking over the trend we have in place now that we are entering a full-on bull reversal it looks like we have a rising wedge forming that just happens to exactly intersect with a .5 Fibonacci line in exactly 7 days. I'm still just over 50% of my portfolio long on COINBASE:BTCUSD but considering now where my target will be for profit taking. Seems like a...

magnus_turing Updated 

Gonna leave this here for now.