MrInvertigo

MrInvertigo

On the daily time frame, the death cross is in. That means the 50 day moving avg has crossed the 200 day moving avg. It's a bearish pattern and could mean a future down trend for Bitcoin. In the short term you could see a rally. This is known as a dead cat bounce. That could go as high as a 50% retracement before turning to the down side. From it's current down...

MrInvertigo

Look for a breakout to the 42k level if BTC is able to push through the top green line in it's current pennant pattern.

MrInvertigo

So we've had a slight correction in the markets. Not just BTC, not just crypto, but all of the stock market too. If you've watched the markets for a while you start to understand, there is a correlation between BTC and the stock market. Theres also a correlation between BTC and the rest of crypto. When BTC drops, it pulls everything down. It's been only recently...

MrInvertigo

BTC has been following along it's current trading channel for a while. However it's running out of time for a decision. Each time BTC tests the upward trending green line, it weakens. I've noticed over the years that the fourth or later attempt is usually when resistance/support fails. However, Bitcoin has already hit support a fourth time and survived (marked...

MrInvertigo

BTC looks as though it has printed its bottom and is recovering nicely. This ascending channel has held and continues to be the current trade channel. If this holds true this could be the bottom of a very bullish movement. The charts seem to point to at least 80K and that's a minimum (circled in yellow on the chart). BTC can go as high as the top green trade...

MrInvertigo

BTC has had a correction occur with it breaking out the bottom of it's current price trend. However BTC has two levels of support with the first proving itself a worthy adversary to the current bearish movement. BTC can go to as low as $53K before finding the first level and as low as $48K before finding the second (marked on the chart with yellow arrows). I...

MrInvertigo

Bitcoin has broken out of its current pennant pattern. There are a few confirmation candles printed before falling back down to retest the old resistance level (now support) before moving up towards a new all time high. Look for BTC to push up towards the 65K region in the coming days before finding resistance.

MrInvertigo

Look for a short rise followed by a retest of the top green line before a rise to a new all time high.

MrInvertigo

Taking a look at the chart we can see BTC forming a head an shoulders pattern which typically sees a move downward from the the same height as the head and shoulders pattern (marked with two short green lines on the chart). However, we have the trend channel's support to consider. Matching these two indicators up we have a price target around the all important...

MrInvertigo

BTC is moving along a bullish continuation pennant pattern. Look for BTC to bounce between the green lines before a breakout to the upside.

MrInvertigo

BTC had a sizable drop this morning however it is still firmly in the trading channel and now rests on the center line. Until BTC breaks out either side of it's current parallel channel There is no need for alarm. This is only a correction and reset of indicators to gather energy to spring up along its current trading channel. No need for a panic. It's sale...

MrInvertigo

If ETH can hold it's current trading channel it will break 2k by Feb 23 (circled in yellow on the chart).

MrInvertigo

On its current trajectory BTC is set to break 50K by the Feb 15th or 16th, with the latest being the 23rd. The middle line of the blue parallel channel is currently acting as support (marked yellow arrows on the chart). If that line holds as support, BTC will break 50k any where between Feb 13th - 16th. If BTC makes a move down but holds it's current trading...

MrInvertigo

It took a while for BTC to make up its mind and instead of breaking out of it's previous pennant, it formed a larger surrounding pennant (See my last post). This larger pennant is currently being broken (marked breakout on the chart). Look for Bitcoin to start moving up towards a new all time high in the coming days. Circled in yellow on the chart is my target area.

MrInvertigo

In looking at Bitcoin you can see the red pennant pattern marked on the chart. This is the consolidation pattern BTC was initially in. BTC had a small breakout of this pennant, but dropped back down into the same pennant. In zooming out on the chart you can see the real pennant consolidation pattern BTC is currently in. A much larger pennant that has formed...

MrInvertigo

Bitcoin has been consolidating for a number of weeks now. However, today BTC has broken out of its previous trend. Look for a retest of the breakout level before moving upwards towards the all time high. A break out will typically rise, show a few confirmation candles above the break out, drop back down and tests those break out levels (green line marked on the...

MrInvertigo

BTC is in a pennant pattern and deciding which way to go. If it breaks out the top it can go to all time highs again (ATH marked on the chart). If it breaks down it can fall down to the next green line before finding support (marked on the chart).

MrInvertigo

BTC successfully fought off the head and shoulders pattern and is now looking towards a new all time high (ATH). Circled in yellow is my suspected area of a new ATH.