Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile
Bitcoin_Schmitcoin

@btc_schmitcoin

I drink your milkshake.

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calendar_today30-03-2017 14:51:08

6,6K Tweet

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Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Sunday/Monday breakout seems aggressive, but there's a real possibility this is a bear trap. BBtrend is trending downwards into the BBands breakout which means the daily bbands are flashing a potential for a "head fake" setup -- which could lead to a powerful reversal to the

Sunday/Monday breakout seems aggressive, but there's a real possibility this is a bear trap.  BBtrend is trending downwards into the BBands breakout which means the daily bbands are flashing a potential for a "head fake" setup -- which could lead to a powerful reversal to the
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

ngl this headfake idea looks pretty cooked. Best hope here is that it just continues to range, but this could easily lead to a downward breakout of the daily BBands; thus giving way to a continuation signal for the macro trend. Need to wait to see how the daily candle closes.

ngl this headfake idea looks pretty cooked.  Best hope here is that it just continues to range, but this could easily lead to a downward breakout of the daily BBands; thus giving way to a continuation signal for the macro trend.

Need to wait to see how the daily candle closes.
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Let's talk targets: If the strength continues into next week, it would yield a really great macro reversal setup in the form of an Adam and Eve double bottom. This double bottom has an approximate price target of $109,000.

Let's talk targets:

If the strength continues into next week, it would yield a really great macro reversal setup in the form of an Adam and Eve double bottom.  

This double bottom has an approximate price target of $109,000.
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

The AE/BBands breakout is currently failing. When patterns falsely breakout and retrace their breakout levels that typically means we are going to immediately seek liquidity down below to run the stops of the eager bulls.

The AE/BBands breakout is currently failing.  When patterns falsely breakout and retrace their breakout levels that typically means we are going to immediately seek liquidity down below to run the stops of the eager bulls.
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Wow! This looks like it wants to fully recover. I guess i counted Bitcoin out before the daily candle closed. I'll reserve further judgment until I see how the daily closes because right now it's recovered most of the drop already.

Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Looks like my original hunch that the AE double bottom/BBands breakout was failing is in fact failing. Targets remain at the liquidity areas shown below

Looks like my original hunch that the AE double bottom/BBands breakout was failing is in fact failing.  Targets remain at the liquidity areas shown below
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

$BTC: There are a lot of rejections happening right now on the daily/weekly timeframes. 1. Daily cloud was poised to break out and it's currently rejecting the break out 2. Daily BBands is in the process of failing to breakout and connect with the upper BBands 3. We are

$BTC:  There are a lot of rejections happening right now on the daily/weekly timeframes.

1.  Daily cloud was poised to break out and it's currently rejecting the break out

2.  Daily BBands is in the process of failing to breakout and connect with the upper BBands

3.  We are
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Update $BTC: Daily and weekly rejections are continuing to show strength as daily BBands, daily cloud, and weekly 50 EMA (literally everything in my toolbox to gauge trend) are showing rejections. We aren't even halfway through the week, and we see a bearish engulfing on the

Update $BTC:

Daily and weekly rejections are continuing to show strength as daily BBands, daily cloud, and weekly 50 EMA (literally everything in my toolbox to gauge trend) are showing rejections.
 
We aren't even halfway through the week, and we see a bearish engulfing on the
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

$BTC is hanging on by a thread -Weekly cloud is hanging on for dear life and threatening to give way -Strong rejection of the weekly 50 EMA -CME daily bbands are squeezing and we are breaking out of a massive bear flag.

$BTC is hanging on by a thread

-Weekly cloud is hanging on for dear life and threatening to give way

-Strong rejection of the weekly 50 EMA

-CME daily bbands are squeezing and we are breaking out of a massive bear flag.
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Update $BTC: BTC is now falling out of the weekly cloud (last seen in the last major bear market) Daily CME BBands are now breaking out following a classic bear flag breakout and throwback/retest. All signs are pointing DOWN for the foreseeable future.

Update $BTC:

BTC is now falling out of the weekly cloud (last seen in the last major bear market)

Daily CME BBands are now breaking out following a classic bear flag breakout and throwback/retest.

All signs are pointing DOWN for the foreseeable future.
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Part of me thinks this bear market needs to go lower than our typical bear market. The recent bull market was such a miserably underperforming asset that I think deep discounts are necessary to bring back serious large scale speculation.

Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Update $BTC: 1. Weekly cloud is toast. The canary in the coal mine was the sideways grind through the cloud structure. Price teleported once that support was lost. 2. I'm looking for the lower monthly BBand to provide support around $53,000. Get there and I'll be a buyer.

Update $BTC:

1. Weekly cloud is toast.  The canary in the coal mine was the sideways grind through the cloud structure.  Price teleported once that support was lost.

2.  I'm looking for the lower monthly BBand to provide support around $53,000.  Get there and I'll be a buyer.
Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

There are SO many terrible takes on my TL today. You get one bounce, and this place turns right back into a shithole. So many grifters.

Bitcoin_Schmitcoin (@btc_schmitcoin) 's Twitter Profile Photo

Update on the $BTC bear saga: - Currently breaking out of a potential Bear Pennant with the 4hr BBands supporting the move. Target is ~$40,000. - Daily/weekly bbands still supporting bearish momentum here as well. Expecting this to be the final move that bottoms the market.

Update on the $BTC bear saga:

-  Currently breaking out of a potential Bear Pennant with the 4hr BBands supporting the move.  Target is ~$40,000.

-  Daily/weekly bbands still supporting bearish momentum here as well.

Expecting this to be the final move that bottoms the market.