BigChonis

BigChonis

The obvious similarities to the 2018 Bear market continue to play out with the similar unwinding of Bitcoin after the parabolic move to just under $14K. This fractal shows that the market could be in leg 7 on its way to Number 8 which would set a another lower low and a price target below $8K...trade safe...Chonis *not financial advice, just my thoughts and ideas ...

BigChonis

Bitcoin and the Grand Super Cycle... Did we just witness just the first step in a much larger move in Bitcoin price action? Has the Grand Super cycle confirmed the completion of its initial impulsive wave 1... Corrective wave 2 is the most important step now as it will determine with a major higher low bounce that the Cycle is real and the Bull market is well on...

BigChonis

The structure of Bitcoin is becoming more clear as the price action above $10.000 is showing the market for now is comfortable maintaining these prices. This higher low hold could be the completion of the (C) wave and the start of (D) wave up to set a lower high in the higher $12K area in the coming days and then another higher low for the (E) wave bounce and...

BigChonis

Lets face it...Alts look terrible vs Bitcoin and it seems like many could be going to Zero which in crypto means delisting...However times like these when the chart seems to have no bottom tend to be opportunities...Bitcoin still looks strong but if it ranges for several weeks of price action it could give the Alt market a little jolt of energy as money is spread...

BigChonis Updated 

After topping off right in the Golden Pocket zone above the 61.8%FIB level Bitcoin now finds it self bouncing hard off the 38.2%, now established FIB support...Bitcoin now can range between these two fib levels which means a price range of almost $4,000 from top to bottom. The 50% level also coincides with March of 2018 horizontal resistance and should be a pivot...

BigChonis

In 3 DAYS from this post the most Important Weekly candle close of 2019 will happen. Bitcoin has a chance to set in a very bearish rejection candle with a major upper wick and with the opportunity to close RED by the end of the week showing a Massive "Shooting Star Candle" This would represent further downside potential showing that not only the higher high was...

BigChonis

Bitcoins Bullish parabola has brought the price today to the "Golden Zone" beginning where the 61.8% level derived from the previous ATH at $19890's SUMMIT and down to the BASE CAMP at $3150's. This area also coincides at the next horizontal area of price history going up to just about $14K before the next jump higher at the 78.6% FIB extension to over $16K which...

BigChonis

At this angle of the parabola on the current WEEKLY Chart Bitcoin is in‬ “Blow Off Top Faze”... where Multi $1,000 moves intraday day and intraday week are expected on both sides of the market...‬Higher Time frame indicators still have room to run but are in the upper end of their range. Once FOMO kicks in, the volatility can be epic. Longs and Shorts have a lot...

BigChonis

A couple things of note on the daily chart I don’t see yesterdays candle as a shooting star but rather a combo tweezer rejection along with the previous days candle in the $11,200 area finding similar back to back daily resistance and then closing under $11K. The daily candle did close with a higher high which does give some strength to the bulls as we start a...

04:48

BigChonis

CME Futures closes trading Friday and reopens on Sunday. This can create gaps in the price that occur when weekend Bitcoin price action moves from the area of the previous Friday close of CME. Current Open GAP on the Weekly chart down to $8500 and a new opening candle creating another gap on the weekly at $10K...I’d be very surprised if one of these isn’t filled...

BigChonis

Has the final extension of the primary Wave 5 been rejected at the "Golden Pocket Zone" ? Touching between 61.8% and 65% FIB extension derived from Primary Wave 3 and currently holding resistance just over $11K... Since Wave 3 was so long then it can be assumed that Wave 5 would be truncated or under 1:1 ratio of Wave 3. There is also a count of 5 sub waves of the...

BigChonis Updated 

Where is Bitcoin in relation to the 2014 Price Fractal? Focus on the April 2014 bounce to the top off in June 2014... Once topped off Bitcoin then continued on its downward path to the $150 final bottom with a couple small bounces along the way... This 2014 chart shows the A-B-C completed corrective move of the 2013 Parabolic Bitcoin $1,000+ pump. If we impose...

06:35

BigChonis

Small move up on Minor bull volume, higher than yesterday but limited follow up so far, Another day ranging in the low $3k's as the Daily RSI is peeking its head above 30. The MACD is rising with a little higher histogram profile. Remember when #bitcoin ranges #alts can move

BigChonis

The Bear channel remains intact and until breached to the upside I will continue to target lower price levels corresponding with the Middle and Lower Channel Support. Even with a bull break through and close above, I would want to back test to confirm that the recent resistance line has now become support. Only with massive bull volume can we conclude that a near...

BigChonis

areas of support are now resistance, bear cross of EMA12 and 26

BigChonis

note areas of support and resistance

BigChonis

$OMG - small pennent short term and holding above .786 fib level which has shown support for now, the longer term trend line will be tested at some point and that could set up a bullish trend reversal on the daily chart...

BigChonis

$ICX - currently holding on bottom parallel channel on daily chart, its a good place to bounce but a break down below could put lower levels in play...