SimpleCryptoLife

SimpleCryptoLife

Some financial news articles are saying that the Pound is breaking up from a symmetrical triangle. I say it's reaching the top of an ascending triangle. I don't know if it's a slow news day or if they're looking for suckers to buy a false rally, but this looks like a much more likely place to short than long to me. + Overbought on 1D and 12H + About to run into...

SimpleCryptoLife

Bitcoin loves what I call four-and-a-half wave corrections, ABCDE correction waves where it's so bullish that it never completes the fifth wave. In the larger view from 2017 to now, we've either completed a three-wave ABC correction, in which case we should crack 10k any day now (more below), or we're going for a 4.5 wave correction, pictured in the main chart....

SimpleCryptoLife

However you draw it, silver looks like it wants to break out of this corrective triangle (orange) or channel (blue). Technical bias is long, with daily and now 4H EMAs in the right order, and green trends on both timeframes. Fundamental bias is long, with gold getting a lot of attention as a risk-off asset, and silver riding along. Confirmation would be a 4H...

SimpleCryptoLife

This idea is probably premature, and based on my fundamental bias that the market in general, and banks in particular, are based on fake money and debt and will roll over soon. As a reason against this thesis, the fundamental news for this particular bank seems to be good, with hedge funds reported to be bullish on it. So I will trade this, but with a very small...

SimpleCryptoLife Updated 

In the current climate, trading alts is risky, but then when isn't it risky? For those that are risk-on.. ALGO looks interesting to me: Bounced off long-term support Has made a couple of higher highs and higher lows (Williams Trailing Stops) 8/21D EMA bull cross (Exponential Moving Averages) Solid green daily trend for the last 3 weeks (Price Action...

SimpleCryptoLife

The forecast: altcoins, measured against BTC, look to me to be ready for a large long-term move up, starting now, and lasting maybe the rest of the year. I've chosen a weekly timeframe to take a long-term view. The chart is a little busy, so let's break it down piece by piece. First, support/resistance levels: Within a larger S/R zone, the Everything Dip...

SimpleCryptoLife

For the last 6 weeks or so, there's only been one thing to trade - The Market, as everything moved up and down together, gapping violently based on news. These daily charts show how the stock market (SPX/S&P 500) has correlated with the historical safe haven asset of gold (XAUUSD) and the promised new safe haven of Bitcoin (BTCUSDT). The red indicator at the...

SimpleCryptoLife

It's unwise to make any predictions in this current market, but we can draw some possible scenarios and later, amid the smouldering wreckage of the economy, see how we did. I've charted the SPY ETF because I'm trading it, but actually you can compare the charts of all major indices and they have followed the same pattern, because the drivers have been common:...

SimpleCryptoLife

RVN/BTC looks to me like it's about to complete an Adam and Eve double bottom. Definition (from stocks): thepatternsite.com Nice volume coming in. Conservative entry would be after confirmation, or on seeing what pattern it forms after confirmation. #notfinancialadvice

SimpleCryptoLife

Noticed that BTT/BTC respects previous support and resistance lines quite precisely. Assuming that this is the start of a significant run for BTT, and that market conditions don't ruin the party, here's how I plan to trade the moves. #notfinancialadvice If at any point price goes outside the box by 2 or 3 sats, I'll consider it invalidation and switch...

SimpleCryptoLife Updated 

Through 2018, BAT has ranged horizontally , albeit in a very wide range, while the rest of the market followed BTC and trended strongly down. Now it's approaching the top of the macro range for the 5th time this year. Daily moving averages are flattening out, so we can expect either a 30-60% drop to the middle or bottom of the range, or a wild run...

SimpleCryptoLife Updated 

BTC has been in an ascending channel for a couple of weeks. For the last 2 days, it's been making what looks so far like a bullflag, which, if it continues neatly, would end around the time price hits the bottom of the channel again. If we break out upwards, adding the height of the flagpole would take us to ~4120, which is also the top of the channel. Of course...

SimpleCryptoLife

Phase 1. Added 8 and 21 day EMAs to the BTC daily chart . Started looking from ~10 months ago. Used these rules: Strong trend reversal signs (open a position; close any opposing positions): • The 8 day and 21 day EMAs cross. Crosses are marked with a vertical line on the chart. Red for crossing down; green for crossing up. The open long or short is marked...

SimpleCryptoLife

Confluence of several trend lines suggest to me price will go down soon. This is not investment advice. You shouldn't take any advice from me anyway as I'm a beginner.