zmaniac17

zmaniac17

I've been staring at BTC charts all day trying to come up with a reason for all these bullish indicators to be point to a new uptrend. But I keep coming back to the missing piece of the puzzle. Nothing matters if there is no VOLUME! If we can't sell at these prices we certainly can't sell higher so there's no reason to go anywhere but down. Volume was what I...

zmaniac17 Updated 

Distribution targets untested levels of support.

zmaniac17

6750 Should act as resistance if the down trend is to continue immediately. If not we could definitely see a breakout above that level. This is the same price range that we saw the massive short squeeze a few months back and it has very little volume because of that. For a true breakout we'd need to regain 7600. I'm not expecting that to happen. Also waiting to...

zmaniac17 Updated 

There's some divergence showing downward momentum. If it fails to retest the top of this level then it should move down. So far it hasn't made a convincing effort. I'm expecting a return to the point of control at 0.00165. Otherwise if it makes it above 0.00200 it could break out, if it makes it below 0.00146 it could break down. I'm experimenting with the...

zmaniac17 Updated 

Switching to long. CCI over 0. About to break over the moving average. Could see a dip to buy in before this, but don't bank on it.

zmaniac17

Looking for rejection at 7171 at the high volume node and then new low.

zmaniac17 Updated 

Looking solid for a reversal. Still waiting for CCI over 100 on the daily. And candle close over 7650.

zmaniac17

"He who fights with monsters should look to it that he himself does not become a monster. And if you gaze long into an abyss, the abyss also gazes into you." -Nietzsche

zmaniac17

This is an inverse chart of BTC. I think it makes it easier to look at since most people have a bias towards bullishness. This is my most bullish case for BTC. I want to see accumulation at this level. The odds are against us. If we dodge the bullet here I think we still face it again in a few months maybe less. I'm bear until we cross above the 50 day moving average.

zmaniac17

I see a lot of indecision here. That worries me. I hope we don't bleed past 6400 and then tank. Stay Safe people. Don't catch falling knives. There's no shame in being in Fiat or Tether if you didn't get a good short entry.

zmaniac17

I'm using two moving average indicators here. Moving Average ADX (Average Directional Index) . It turns green in an uptrend, black with no trend and red in a down trend. Exponential Moving Average (set to 100). This is the minimum necessary to keep your Satoshi's from being siphoned away as you wait for the greater fool to give you your next Lambo. The reason...

zmaniac17

Just fooling around...

zmaniac17

I closed most of my short. Not going long though. I'm looking to pick up shorts in a better position. The momentum is really low so I'm questioning whether we can break below 8100 here. Grabbing popcorn and waiting on the sidelines.

zmaniac17 Updated 

Seems like there's strong support at 0.00240000. If BTC holds here I think FCT will as well and maybe even recover. Not much TA here. I'm unsure what will happen next.

zmaniac17 Updated 

If we gain this level then we have a shot at a bull run to 10K. We did break above the 26 day moving average. But there is a lot of resistance to go through on the way up. We're currently still in a down trend and under the 200 day moving average. So I am still bearish and will be laddering in shorts up to 9200.

zmaniac17

Laddering in shorts up to 9000. I don't think BTC has enough momentum to crack that level. I'm expecting range bound movement between 9000 and 8200. Still looking for 7800 as well.

zmaniac17 Updated 

Hoping to break up. But the low volume has me worried. A bear flag is being painted. If it plays out I'm looking for 7800.

zmaniac17 Updated 

I setup a small position at the bottom and got a pop. So I'll be following it up with a trailing stop and buying the dips after each major level gained. This will be a tough climb. It will likely end with my stop getting hit and the down trend continuing.