truecodecapital

truecodecapital Updated 

While we can't guess what comes next for BTC, we can notice the resistance / support zone from Jan 2021 is being tested again. A break above the zone would be positive, but if the trend breaks below the range, there may not be support again until $20k. This is a good day to wait and see.

truecodecapital Updated 

Looking for potential support if BTC breaks down beneath the $40k level, which happens to coincide with previous support and the SMA(200). That should be strong support and with luck will be the end of the bleeding, but given the speed of the move, we have to be thinking about what may come next should the support fail. The next recent support level was around...

truecodecapital Updated 

The trend is still down, but keep an eye on the 4-hour SMA(20). If it breaks above that level (currently around $36.5k) it may start looking more constructive.

truecodecapital Updated 

Until the 4-hour SMA(20) is broken convincingly to the upside on the 4-hour chart, we're still headed down. But once is breaks up, look out! The rebound could give you whiplash!

truecodecapital

Another bad sign for the BTC market. We'll see what happens at close today, but this level is especially close to the SMA(150) on the daily chart. When I see trends being broken on the longer timeframe, that is further cause for concern. We'll see what happens in the next few hours.

truecodecapital

The trend of higher-highs and higher-lows has been broken. If the SMA(150) is broken, this could be the end of the current cycle of prosperity in cryptocurrencies. Be careful!

truecodecapital Updated 

Notice that the SMAs have reconciled to their normal uptrend position in the hourly charts. Watch for the SMA(20) to cross under the SMA(50) as a cue for a reversal to the downside. Look for continuation of the nascent uptrend if this pattern spreads to the 2-hour, 4-hour and daily charts.