Weeks ago, we indicated BTC appeared to be developing a consolidation pattern. That has proven to be accurate. These patterns go back and forth to shake out bulls and bears with lots of fake outs. They normally last awhile as price tests both support and resistance levels.
It might. Why? Because whales love to set up for big moves around news that helps them make money, and they?ve done it many times before in crypto ? Remember the BTC halving? The BCH Split? BCH/BSV Split? The ETH DAO hack? The billion air drops? Looking back, none of...
There?s a great line in a highly underrated Charlie Sheen movie called The Arrival (1996 – when Sheen was cool well before he started ?winning?) that we think applies to the current BTC set up.
We?re at a key point in the current correction from the recent top and now can share useful updated technical analysis on multiple key coins, but we think there is one thing to watch that stands above all else:
BTC failed at making a new wave cycle high (so far) and now the BEARS have the ball with $9500 the trigger for what could be a BIG DROP for BTC and altcoins. This means – PROTECT PROFITS but it also means buying opportunities at lower prices – possibly MUCH lower so caution advised!!
Our last post focused on potential bearish crossing of the key moving average indicator for BTC. We indicated it would add to the bullish case if BTC could hold most or all of its recent gains which would avoid a moving average cross.
We indicated for the last week that the gap at XBT $8610 was the number to watch and we were rewarded with BTC filling that gap with authority and now opening today with a new bullish gap above $9000. As you can clearly see on the updated BTC chart we share ? this...
We shared the latest BNB chart in our last post but wanted to update things because of recent news: https://cryptopotato.com/which-coins-will-likely-to-be-affected-by-the-binance-shutdown-by-the-us-list-inside/ ...
As we start a new week, the big question we posed in our last post about XBT futures driving the crypto market has not been clearly answered. That SHOULD change this week and the current pattern set up is worth reviewing.
In our last post patterns called for a big move and that?s what has happened ? or should we say that?s exactly what?s happening. We?re in the middle of key price levels for BTC of $8400 and $7250 and there are important signals to watch that will help with trading strategies.
We said this week could bring big moves and we were not disappointed.
We?re starting the week with another large gap up for BTC (as it blew past $8400 ? see prior charts ? key price levels matter!) and here?s why how the week ENDS is likely important: