tired_man_willis

tired_man_willis

Bitcoin broke down before rebounding. However, there's no real follow-through on the bounce and is hitting Exponential Resistance. I expect another leg to the downside with $7k being the next zone. (Daily) However, on the Weekly Chart volume is still not too bad. This upcoming Weekly candle will determine what Bitcoin does imo. Will it push back up to test...

tired_man_willis Updated 

Bitcoin looks like it was going down this channel and has done a nice V-shaped reversal. If you're playing the bounce I'd monitor Volume, the RSI and Exponential resistance/support. $11,130 is the 22 EMA so I expect a push up to that and depending on volume can see Bitcoin making another push for $12k. Keep in mind that longing in this area is risky so it's best...

tired_man_willis Updated 

There's multiple realistic options that I can see happening but these two are what I'll be looking at. We bounce off the 22 EMA go for a retest of the short term top. We will see either a rejection (red) or bull break (yellow) with bulls targeting the meme number of $15k. From there it's anyone's guess as to what will happen. Personally, I feel a consolidation...

tired_man_willis

Bitcoin looks to be forming one on the Daily. Entering a short and aiming for the neckline around $7600

tired_man_willis

TLDR: Bitcoin will possibly retest $8400 before going to test the higher lows of $6k. Trading Concept of the Day: Highs and Lows. In technical analysis , it is the overall direction of these highs and lows that constitute a trend. An uptrend is classified as a series of higher highs and higher lows, while a downtrend consists of lower lows and lower highs. For...

tired_man_willis

- Bitcoin failed to break resistance between $4050 - $4150. I was stopped out and redid my chart. - The chart now shows a range between the lowest and highest point. I believe we will retest the lows around the 200 MA. - If there is a reversal, I believe it'll be in the form of a Double Bottom and is the strategy I was going to employ if we failed to break. -...

tired_man_willis

Analysis - RSI is healthy - MACD is healthy - Volume is good. - Market Sentiment is bullish but a little skeptical (from what I read in chatrooms and forums) Bull Scenario - The Bull Flag on the Daily breaks to the upside thereby validating the large iH&S. Bear Scenario - If we break the Lower Highs on the 1hr, and 4hr, check the Daily ($3755), that'll be the...

tired_man_willis

Ascending Triangle = Bullish formation You can wait for the breakout and trade that or load up here with tight stops under the previous higher low.

tired_man_willis

Looking at the Daily, I'm seeing a possible Inverted H&S (Bull Reversal) in the works. This will take about a week or so to confirm and MAY NOT happen. Keep yes on the next few days especially if you're short. Currently, I'm short with my target being within $75 of the Left Shoulder's lowest peak.

tired_man_willis

Looks like the S&P 500 is completing the 5th wave. The bull market couldn't last forever and I feel as if the bears will come down hard in a self-fulfilling prophecy. Proshares Ultra Short is looking mighty attractive right now.

tired_man_willis

Bitcoin bulls showed up today and the "Falling Wedge" on the Daily has played out. That said, we have bullish divergence on the 3Day RSI . A retest of the 10 EMA would have us around $3850. If the volume starts to pick up I can see us retesting $4k. Until then, keep eyes on since short positions are still near ATH's.

tired_man_willis Updated 

Possible 4hr H&S. Neckline is $3300. Shorting is slightly risky since we won't know if it holds. Volume overall is weak at the moment.

tired_man_willis Updated 

Forming a Double Bottom on the Daily???

tired_man_willis

Bitcoin failed to break out again and it looks like we have a double top. Will be confirmed if we break the neckline.

tired_man_willis Updated 

Analysis - RSI is looking bullish - Increasing Bull Volume/Decreasing Bear Volume - MACD is bullish Target is the 24 EMA on the 4hr chart. A break above $4200 would be a short term reversal.

tired_man_willis

Analysis - Volume is looking good for the bulls, though it needs an increase as it creeps up - MACD is still flat but flipping bullish. - We are making HIGHER LOW'S while the resistance is pretty obvious. I wouldn't be surprised if we pull-back to retest that bottom trendline. As long as Bitcoin grinds up against it, we are in the clear. Bakkt news is due out...

tired_man_willis

www.investopedia.com :D

tired_man_willis

Been a slow month for crypto and I've been out of position just waiting for the trade to come to me. I'm sticking to playing the overbought/oversold bounces. My target is the 12/24 EMA which is roughly between $6360 - $6440. The sooner it moves there the better since as time goes on it'll just get closer to where we are now. I'm also in a small ETH Long from $194...