mnovo

mnovo

There is so much potential energy waiting for BTC to begin a rally. However, gains are not worth the risk to me. We need some goals to exit the bear market. Yes we have had higher lows but there have been now higher highs to increase momentum. We need to break the 50MA, break the wedge and then break the 200MA. On the log scale we are reset in the main channel again...

mnovo

Higher lows but no higher highs. The spring is set but it could go either way. Still expecting a reset into a proposed channel dating back to 2014 and beyond.

mnovo

Still on course for Nov/Dec reset. The big question is who will win the war. The 6k whale or the 5k whale. I'm betting on the 5k. We will continue to test the 20w or 200d MA and fail untill we are in the main channel again.

mnovo

A long term prection on the LOG scale

mnovo

Waiting for the October news of approval

mnovo

This does not look good

mnovo

The big red candle at the end of the channel will invite you to the slaughter. Stop loses triggered. Everyone will buy back and then the fall below market structure begins.

mnovo

Good entry point for a small swing

mnovo

Almost at the 200MA on the daily - Blood will fill the streets again. Based on the similarity to 2014, Expect a drop to about 5k. Not much support showing below that. Bulls, are you ready for the upcoming sale? This may be the push ETH needs to bounce back as many dump BTC to the whales. ETH may even catch up to BTC in crypto dominance! Remember I said it here. hmmm~

mnovo

Near the top. Heading for the 200 day and expecting rejection. The next down trend will commence soon. Expect a rally in some alts.

mnovo

So, I'm looking at the percentage swings of BTC of the last cycle using the daily charts. A blueprint of 140% gains and then a 40% correction during the last 5 times in the bull run before collapse. Then the crash...an average of 40% drops followed by 40% gain swings in the Bear market. Imagine a near perfect run with just $1k. Thoughts? I would love to hear what...

mnovo

50mil purchased last night affecting price. While I missed the 5% pump due to playing safe, I'm still not convinced. Shorts dropped but not enough to say it was a short squeeze IMO. Expecting the price to fall...

mnovo

What do you see happening SHORTly??

mnovo

Very high resistance at $6700. Preparing for a sell off. Shorts have stalled growth but not dropping.

mnovo

I think we may have one more small rally before we bottom out in November/December. ETH has continually begun it's long term rally each December. There are gains to be made on the way down but I think we may see the bottom in December and another Rally to 2nd place or even surpass BTC in coin dominance.

mnovo

Not the best time to jump back in. Wait for the dust to settle. 3 channels confuse the issue which looks like a trap to me. ETF approved. We may see consolidation again and meager bullish talk...

mnovo

Good entry point for some gains, but it will get cheaper. You'd with think we were trading bitcoin or something. Like every market, we are going through a major correction right now.

mnovo

BTC is going through the motions of 2014 after it's peak. We are in a state of dismay and capitulation. While everyone is talking about how crypto is dead, the opposite reaction should be get ready to buy a deal. Gains are less volatile and entering a long state of consolidation. We have not seen the bottom yet but we are close. Soon the news will confirm...