BDG

BDG

The Bitcoin Log Growth Curves are an excellent means to determine when Bitcoin is oversold or overbought. It has never failed since the chart began in 2011. This indicator only works only for Bitcoin unfortunately. The middle band tells you when BTC has fair value. The bottom band has always been the excellent buying opportunity for long term holders. The top...

BDG

BTC has fallen back into the down channel that formed at the all time high of 64k. There have been breakouts from this channel in May but it did not last long. Look for support along the channel's dashed center line. If it falls through that it should hold at the bottom channel support line. The Weekly RSI is still bearish and unless it stays above 50 we won't...

BDG

If we look at the weekly chart it becomes obvious why 19k has such an effect even from 5 years ago! That was the old high in 2017 when the market was extremely bullish that any crypto made lots of money. Do you remember the boom days? The "Gold Rush Days" of BTC? For the past couple of months we have been stuck at 19k. 19k is acting as support but like all...

BDG Updated 

I thought I would update my previous posts on the Fibonacci Log Growth Curves that seem to predict support and resistance zones quite well. Bitcoin has been on a tear and we all want to know if it will: 1) Fall back to major support at Fib 0% 2) Pull back then try again to break Fib 50% 3) Keep going up to Fib 100% I have drawn out the 3 scenarios on the chart....

BDG Updated 

How long will it be before BTC gathers enough momentum to break through Fib 61.8% ? Or will it give up and drop lower so people can accumulate at a lower price? I thought crypto would be soaring, now that the U.S. Petro Dollar is coming under attack from Russia, India and China. If they go ahead with their plans to dump the dollar, a lot of USD will come...

BDG Updated 

The XRP cult is getting smaller and smaller. When I dissed XRP a year ago when XRP was around 45 cents, the XRP fan club rose up and told me I didn't know what I was talking about and XRP was going to hit $1 by the end of the year. XRP was suppose to have all sorts of great contacts with the banking sector and it would be the bankers' currency. They said XRP was...

BDG

One of my followers recommended I update my post from January where I describe the Bitcoin Log Growth Curves that finds support and resistance levels for Bitcoin. (These curves only work for Bitcoin). I added green support arrows when the fib levels acted as support, and red resistance arrows when the fib levels acted as resistance. If you scroll the chart to...

BDG Updated 

I drew the pitchfork with the data from the last drop and the bottom at Mar 29th. So far BTC has tracked remarkably well on the daily and weekly charts over the past 6 weeks. Overview Let's review what Bitcoin has been doing since April 1st. The bottom of the pitchfork acted as support 4 or 5 times in April. (Green Arrows) Then the price hit the median line...

BDG

I discovered an interesting indicator today called "Bitcoin Logarithmic Growth Curves" (from quantadelic) that bears mentioning. It does a good job of finding support and resistance using Fibonacci levels without having to draw them. Unfortunately it works only on BTC charts but it does display them well for any time frame. It also works on logarithmic charts but...

BDG

The way I see it, there are 3 possible scenarios. 1) (Orange line) BTC pulls back to the bottom of the green region of the pitchfork then dramatically moves higher with enough momentum to break out of the pitchfork and the green resistance line. This is what the moon boys dream about every night. 2) (Red Line) We are headed for a Super Bart. The 3k rally we had...

BDG

Caution: This is a rant on Bitcoin manipulation that was released yesterday. Christopher Giancarlo, former U.S. Commodity Futures Trading Commission (CFTC), spills the beans. It was Wall Street with the help of the Trump administration. It appears that every market, including Bitcoin, must be manipulated by Wall Street. This is why the the CME futures were given...

BDG Updated 

This 30 minute chart bears a striking resemblance to one of the many Bart patterns that we experienced over the past couple of years. As discussed in my last post (link below), we are looking at a descending pitchfork chart of BTC. Today BTC shot up vertically like a rocket fired from channel 3 and into channel 2. It blew right threw the white median line. Then...

BDG

It is hard to believe that a week ago BTC was at 8.5k. And we thought we'd never see 8.5k again. Well today we see 7.7k and we are still seeing red candles. 8.5k looks pretty high from where we are standing. 2 weeks ago we were at 10k. We're have broken through all "support levels" and buying regions that were suppose to support the price. What happened? How...

BDG Updated 

We are all waiting for Godot, ahh, I mean Bakkt. He has been a long time coming and by Monday all will be well. Birds (moon boys) will be singing and flowers will be blooming. At least that is what we were told. In the mean time we have one ugly chart to look at. I haven't seen a chart this ugly since the massive sell off in August. It appears to me we will retest...

BDG

I saw something tonight that made me almost fall out of my chair. If you include only the last 6 months of trades (starting in early March 2019 prior to the bull run) and plot the Volume Profile you will find the majority of buyers bought in at the current price of $10,267 (or above). I find it incredible that most of the BTC buys for the past 6 months was at the...

BDG

With all of this chop it has been slow weekend. I thought why not have a contest to see who can guess the date of the breakout? ----------------- Contest Rules: ----------------- You must specify the price candle will "Break Up" or "Break Down" out of the wedge and the DATE the breakout of the wedge will occur. By breakout I mean the DAILY CLOSE must be...

BDG

I noticed something odd today. It could just be an odd pattern and may not amount to much. I've been looking at the wide swings on the 30 minute BTC chart all day long, and tonight I zoomed out to the 4 hour chart to see 4 candles about the same height all sitting side by side. Where did they come from? LOL Almost like looking at 4 crows sitting on a wire. The...

BDG

I have updated my original chart that I used in my "A Road Map for the Bitcoin Bulls (at least for the Short Term)" published on Sept 2nd. BTC fell down the elevator shaft on noon Friday. Some say BTC was pushed down the open elevator shaft by the Federal Reserve Chairman Powell when he said the Federal Reserve wasn't pursuing blockchain. We all know that is a...