mikehobart

mikehobart

Time will ultimately tell. But I'm of the belief that the next 8 weeks will result with a Bear Market Rally AT BEST. With activity being flat, or continuing to trend down. The next question is whether $BTC gets skulldragged with it, or not.

mikehobart

I don't trust this at all... still within a bear market. So we'll see.

mikehobart

I'm bored.

mikehobart

OH LOOK, the Barts are staggering in positive trend... at least until they push the 7800 level again.

mikehobart

It is in the middle of completing as we speak, now I'm just waiting to see if it follows through.

mikehobart Updated 

Figured I'd do a little comparing here... so the strongest of the Bart Formations in the past few weeks, I went back to May 23rd just in the sense of working quickly. But it seems that these formations are 11hours in length at the shortest, and can last up to nearly a whole day. NOW, the last 2 successive Barts, and arguably the strongest in the past weeks, were...

mikehobart Updated 

I've been studying a LOT lately, a lot being relative because I am working on the other side of the world and away from home. SO I've just gotten through a lot of the basic formations and what I'm seeing is a rectangle pattern that has formed. IF I am correct, I suspect that the continuation (being equal to the leg that it started on) will end us up to about...

mikehobart

Sooooo I'm seeing a Rising Wedge here as a Top on the 1D TRXETH chart... that should be a reversal formation... The reversal should be the same distance (roughly) as the height at the base of the wedge, and between 65-75% of completion. So I'm guess that around the 2nd week of June we should see it drop. That's IF and ONLY IF I am correct.

mikehobart Updated 

Humor this... Bat formation on the 2D with the reversal beginning at 6592, going up to target A @8534 and target B @9767. With A lining up oh so beautifully with the top of the down trend resistance. The question is if the bulls muster up the strength.

mikehobart

BTC fails at the 50 EMA and the entire market bathes in blood. WELL, idk about you guys... buuuuuuuuuut... I'm pretty well desensitized to this by now. Okay so BTC has fallen, whoop-dee-doo. We've been bouncing inside of this triangle since winter, however, it's coming to a point where BTC will either rise or fall as we approach the precipice of this pyramid....

mikehobart Updated 

This is NOT a hope of mooning post. I'm simply observing and posing questions for my comrades (you guys) in the crypto-trading verse. What do you think?? A massive parabola with an Inverse H&S as the base? I'm keeping all of the rest of the mess on this chart because I want to keep the big possible moves in the forefront of my mind. However, the RSI on the Daily...

mikehobart Updated 

ETH tends to follow BTC moves, we all know this. BUT it also tends to follow with much stronger stability, so I don't see it falling all the way to the bottom of the channel like I think BTC will. I could see ETH bouncing off the 78.6 Fib around the @500 level with it being both psychological and a Fib Retracement as support. So that may be a possible short-term...

mikehobart Updated 

I had not noticed it in my previous posts but BTC is indeed on a road to completing a (very crude) right shoulder of a pretty big (and ugly) H&S on the Daily Chart. All 3 of my plotted possibilities are still in play!

mikehobart Updated 

Considering how well BTC has been ranging between the blue trendlines as well as following the bearish trendline in white I have laid out what I believe to be as the path of least resistance to a crossroads where BTC will either fall lower to open the door for the Institutional investors to join in late July/August, OR it finds a bottom @7k and rebounds north

mikehobart

My prediction for BTC is that in July we see it tumble below the ascending trendline of lows, at this point I feel that we have to fall lower in order to invite the institutional/smaller party buyers in to the show. Anybody have any thoughts?

mikehobart

Price spiked today on the opening of the BTC Consensus, now, let's see if blind investors can actually drive the price up through these tough ceilings that are very closely stacked above BTC right now. We have the 1200EMA in orange, the short-term trendline of the most recent bear movement (white), the ichimoku resistance @9065, previous resistance @9400 and the...

mikehobart Updated 

I just want to apologize for the large amount of rays, I prefer to keep major support/resistance lines plotted. BTC really abides by them for good buy/sell lines. With all the downtime I am getting today and the expected retracement and subsequent bull-push I was waiting for, I've decided to take a little look at the information in front of me instead of twiddle...

mikehobart

As BTC approaches previous Support/Resistance @8750, the 50Fib AND the 1200 EMA things are going to be bulltastic. I say this because I am expecting the bulls to force this market like they have since the push up from our previous $6k range. I'm betting that they will punch the buys up through the 1200 EMA and multiple levels of psychological and technical...