Bitcoin: Consolidation Until Autumn?
Made 2 bang on calls at the beginning of this pattern with the 1H chart(see article attached below). The pattern has not deviated from course yet. If the pattern holds then price should continue to consolidate with a breakout near Autumn Equinox, which is a HUGE Gann pivot date for Crypto markets. This would be very Bullish.
Disclosure. The author does own BTC.
Bitcoin: Corrective Retrace Coming?
I recently Tweeted the Bitcoin chart below. If this continues then price will move back towards 12K (see chart #2).
Disclosure. The author does own BTC.
(UPDATE) @AngeloBTC, @Binance, @CZ_Binance, Twitter Accounts Compromised. DO NOT Send Money
$40,000 in Less Than an Hour
In a now deleted Tweet hackers asked for 0.1BTC and received roughly 4.5BTC in a matter of minutes. This is a confirmed hack. Please DO NOT send money and report the account until it is confirmed to be back under its original ownership.
Binance & CZ also Hacked (updates #2 & 3)
This Tweet was preceded by a similar tweet that was RT’ed by the hacked Angelo account(see below). It was deleted and replaced with the following. Please DO NOT send any money!
Gemini also Compromised (update #4)
“Don’t Trust, Verify” seems very applicable today.
Bitcoin: Short Term Price Levels
Chart 1, Bitcoin 4H
Bitcoin short term price levels are drawn to highlight the closest stop raids trends will gravitate towards. Heaps of pressure in the 9800’s. Lots of volume will be needed to break that level.
Chart 2, Bitcoin 1D
This is the daily chart and the Bitcoin price levels from the 4H chart were not removed. The redline MA has converged with major horizontal support. This is a very important level for bulls to hold. Red bar has been printed, so bulls only have a few days to recover it within the range before downside bidding ramps up.
Disclosure. The author owns BTC.
DASH: 3 Year Down Trend
What Goes Up, Must Go Down.
DASH has been in a brutal downtrend back down to prices seen in 2015 & 2014. Current candle is near the mid-point of the channel and that tends to form trend pivots. Some interpretations:
Bulls- Strength buyers are looking for a breakout above the channel.
Bear- Panic stink bids at the bottom of the channel.
Swing Traders- Looking for reactions off price action raid levels.
Disclosure. The author does not own any DASH.
Bitcoin Halving 2020
Happy Block Halving Day!!!
Bitcoin COT Report
April 29 thru May 5
- Volume was more Longs than Shorts added from Leveraged Funds
- Open interest not counting Nonreportables is very Short
- Total Open Interest is somewhat balanced
XRP Fractal of Doom (update)
Why Won’t This Idea Die???
It’s comical at this point that these XRP market structures are continuing to repeat. It was fun 3 years ago, helpful 2 years ago, and down right bizzare last year that the XRPBTC bubbles have stayed near carbon copies of previous years. Why can this happen? In my opinion the largest market force and its algo/trading bot(s) are the same force and with little to no reprogramming of movement. Obvious assumption is a Brad Garlinghouse and Ripple funding connection.
What Does This Mean For The Future?
I am making this article just as I made most of the updates on the original Tradingview post, as seen HERE , which is at key pivot points. It seems crazy this continues to play out, and if it does decide to break away from the pattern it will be at a pivot point. In this situation the pivot point is defined as a turning point between 2 smaller market cycles within the greater bubble cycle. I believe this is a pivot time.
The data suggest XRPBTC is going to drift down and the next low may be “the low”. XRPUSD has also held shape fairly well. It also suggests a retrace into “the low”. This bubble cycle has been a bit longer which is a factor that can cause delay. The USD pairing suggests movement is possible in 6 weeks. The BTC pairing suggests movement is more likely in 6 months.
It’s been fun so far. Hopefully the next update is the one we’ve been waiting for.
ETH/BTC TURNING POINT
Higher Highs and Breakout Levels
Ethereum’s ETH/BTC Weekly pair is on the verge great things, but crypto is far from predicable. Higher time frame structural breakouts have happened twice in the past. The 3rd one brewing right now speaks for itself.
The Higher High and the tepid breakout right now must have the bulls on edge. Holding the horizontal blue box leads to a bull bias next week. A break under the October 2019 highs, thus under the horizontal blue box, will make the bears feel like they are in control again.
