Daily Bitcoin Technical Analysis Thread

[Nash Commerce]

Hey everyone, there's a lot of talk about bitcoin and crypto these days.
BHW has helped me, so this is me giving back.

Here I will post daily / semi-daily charts & technical analysis on the market in real-time.
This is the current BTC/USD market right now, at roughly 2 PM EST.

Green means go, red means stop, yellow means slow. Simple right?
Not really, when prices are flying people are buying. When prices are dipping people are shitting.

The culprit? Human psychology, the graphic below is worth a hundred million dollars...

“If I only had an hour to chop down a tree, I would spend the first 45 minutes sharpening my axe.” – Abraham Lincoln.

This market is unforgiving, especially to new traders and investors. It is very important that you study the information above and understand the correlation between them before you even think about investing or trading.

Your mind will play tricks on you. Your heart will lie to you. Numbers don't lie.

Make sure to watch the thread, as I will be updating this regularly with new analysis as the market changes daily.
I'll also be getting more in-depth with advanced indicators such as Fibonacci, rsi, macd, Heiken-Ashi, moving averages, divergence, etc.

 

[italianstarman]

Cool graphic!

Following this thread

 

[BrandingCat]

Illuminati confirmed.

 

[Nash Commerce]

Cool graphic!

Following this thread

Thanks!
The analysis is mine of course but the wall street cheat sheet is a popular graphic among experienced traders.

 

[Dark Sky]

But its just shot through the red line

 

[gotkom]

"buy quick guys we are going to 100k 1month, this is the last train" - every homemade crypto investor

 

[Likri]

following

 

[Nash Commerce]

But its just shot through the red line

Incorrect, look at my previous chart. Now, look at it zoomed in.
My red line has not moved, and we are seeing sell pressure exactly where I marked it. To the dollar.

If we break that red line flush with volume, we could flip it into support and start to go parabolic to 40k, that's a possibility. But we need to see volume come in and break that.

Don't mistake my analysis for a bear case, it's a realistic case.
We are on an uptrend, but the market moves in waves.

 

[Nash Commerce]

15-minute time frame.
The last 6 hours of price action zoomed in on a micro-scale.
We are testing the top of our current macro trend.
If we break the top red line and hold we could be in for some parabolic price action to $40,000.

 

[gotkom]

To any newbie reading this and considering investing now, as the guys stated above me we are in an uptrend now, this will drop (although the only certain thing in this world is death, so naturally there is a chance indeed that it goes to 1mil in 1 week, you can take that chance too )
you might feel like you are missing out on smth, don't. because you did not miss out yet on the BTC(crypto) train. So wait until it drops, until then check out the "making money" section here and stack some cash to buy the dip

 

[mindmaster]

This reminds me when it got to 20k the first time.

Every noob and 'guru' said BUY.
Some talked about 1 million in 1-2 years.

Be cautious. Especially if you are new to this.

 

[Nash Commerce]

This reminds me when it got to 20k the first time.

Every noob and 'guru' said BUY.
Some talked about 1 million in 1-2 years.

Be cautious. Especially if you are new to this.

Yeah, that's why I added the market psychology graphic in the beginning of the post.
I made this thread in response to posts I've been seeing from people wanting to just throw money in without doing any technical or fundamental analysis.
The same thing happened in 2017, a classic indicator of a looming blow-off top.

 

[Nash Commerce]

There's the volume we needed to break through resistance.
Expect a retest of that red line as support, if we hold it, a push up to $40k psychological resistance is very likely.

 

[Panther28]

Are you going to update this thread as much as this everyday?

 

[Nash Commerce]

The prediction came true
Numbers don't lie.

There's the volume we needed to break through resistance.
Expect a retest of that red line as support, if we hold it, a push up to $40k psychological resistance is very likely.

 

[GoGame]

it reached 40k and further

 

[Nash Commerce]

it reached 40k and further

Yes! Very exciting news.
I'm busy with my business at the moment so I will update the thread with an updated analysis and charting later today.
Thanks for following the thread.

 

[Deleted member 1333509]

Nice thread OP.

I thought the top would be either $42,000 or ~$47,500.. now I'm leaning more towards $47,500 based on BTC Monthly fib retracement.

 

[JayDee1984]

Technical analysis is voodoo b.s.

 

[GoGame]

@Nash Commerce are you daily trading or any regularly?
Do you make profit from this?