Megapump

Megapump

The triangle has morphed but the outlook has not changed.

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This symmetrical triangle will resolve itself quite quickly. Usually Bitcoin doesn't move at the weekends but the coming one could be differrent. GBTC might be the canary in the coal mine.c

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Call me weak but the stop for my futures position is at 90.24. I'm still convinced a bounce is coming and I'm keeping my options but my futures position is significant and when I get stopped out here it's a little bit better than break even. I'll try another time then.

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Testing the 50% to 61.8% and then bouncing strong is what I expect and hope for.

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The 4hr TD 9's work like a charm. A little bit of backfilling and then resuming the trend?

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When 91 breaks, upwards momentum will likely gain traction and we might witness an epic squeeze. Everyone is bearish DXY!

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The bus is leaving the station

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One more push and we are off to the races. Good luck everyone.

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We didn't get rejected and have follow through.

Megapump Updated 

What we don't want to see is a rejection at the oppisite site of the Fib Retracement. A rejection and a subsequent lower low would be bearish, breaking the upper boundary and rising quickly would be very bullish. I think a squeeze is imminent as short DXY is consensus and we haven't had any meaningful counterrally

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The Fib Retracement is up on us. This is another asymmetric entry point with now guarantee of follow through but certainly worth a shot.

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The TD daily 9 in combination with the weekly 9 worked like a charm. Let's see if we can establish a base from which the bulls can start their next attack. As long as we don't make a lower low we are still game on.

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Usually my charts look (a little bit) fancier but this one is easy. Tom DeMark says go long. I got stopped out at my futures position at 89.45 but am still long with options. We do have nice reversal candles on the weekly and I'm expecting a bounce for the next 1 to 4 weeks.

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We have establihed a higher low but still trade way below the 91 handle. I'm not sure if we can expect a great move in either direction before the new year.

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The Dollar is greatly oversold and the sentiment is overly bearish. That sets us up for a short-squeeze that could last for 2 to 3 weeks. The initial rally was quickly sold off but today the bulls are back on it and were able to just as quickly absorb the selling. The COT Index is extremly long while small speculators are extremely short. That said, there is...

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We are getting massive tailwind from the weaking Dollar. I think a Crude pump is imminent.

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The next resistance cluster is at the $ 50 to $ 52 range. This happens to be the target of the measured move.

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We have broken the main cluster of resistance that was around the $ 41,50 to $ 43 area. $ 44 should not act as strong resistance as their are no high volume nodes. The TD weekly is giving a brand new entry signal and technical analysists are given all kinds of bullish signals (cup & handle, MA crossovers, etc.). From $ 44 to $ 50 their is no noteworthy resistance...