jacobcanfield

jacobcanfield

During halving years, Bitcoin has always created parabolic advances and made all time highs. In 2017, Bitcoin went from $1,000 to $20,000 In 2020, Bitcoin went from $4,000 to $60,000. Is 2024 any different? We now have the ETF + halving that is creating even more supply reduction on the market. What do you guys think? Is $100,000 programmed or are we going...

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Most major bottoms since September of 2020 has been marked with a 4 hour Bullish divergence on the RSI. This is where price goes lower, but the RSI moves higher to form a divergence. The best bottoms were when the RSI was in oversold territory (below 30) We are currently in a similar situation and I am looking at this for a potential bottom zone. Ideally, we...

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Thanks for all the comments and likes on my last analysis here. It played out quite nicely from that lower zone. I have not yet sold my spot holdings as we are in a bull market and I don't think that the rally is over yet. Here is a new analysis as to what may transpire over the next 7-10 days as Bitcoin consolidates in this upper range. The last rally from...

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Bitcoin has been consolidating for 80 days with a range low of around $8,000 and a range high of around $10,500. In the last 35 days, it has stayed within a 5-6% range. Bitcoin Volatility Index (BVOL) In a historical context, the bitcoin volatility index is showing a massive move coming soon. Each time we dip into this low volatility territory, a...

jacobcanfield

Panic and fear have gripped the markets. (and rightfully so) Just below is a list of a few of the things that are fundamentally driving the sell off: Corona Virus is being declared a pandemic. Massive supply shock from China due to supply chain issues. Potential country lockdowns and economic stagnation Oil prices are plunging Corporate debt is at all...

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Bitcoin has currently risen 54% off of its December lows of $6400 to $9900 in price. Using a logarithmic chart, we can see that it has respected the 38.2% Fibonacci level as its low and is currently testing the 61.8% fibonacci level. This is a very classic technical bounce for Bitcoin, but it has had some fundamental help along the way with its correlation to...

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A high quality signal from the past August of 2019. A hidden bearish divergence is when price makes a lower low but RSI makes a higher high. On this chart, we can see that we've had two hidden bearish divergences on this downtrend move. The other thing I see from a high time frame perspective is the lower highs that have been rejected at former weekly...

jacobcanfield

Hello traders! I've got a crazy analysis for you today that is very compelling. Before we begin, I want you to understand that this is a longer term analysis that can take months to play out. Can I be wrong? 100% without a doubt yes. Will I trade this exactly as I have it laid out? Of course not. I will take it day by day and level by level. As always,...

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Good evening traders! In this post, I'm going to cover the 'Rectangle Formation' and how it applies to Bitcoin and my trading plan for how I am going to be trading it.\ Bitcoin recently broke down from our descending triangle as we highlighted as a possibility in our last bitcoin analysis as we had several futures gaps we wanted to see filled. One thing about...

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One of the most common questions I get when it comes to altcoins is, "should I trade or should i just buy and hold?" For most people, buying and holding (or hodling) is often times the best answer. It's less time intensive and you don't have to think about it too much. The problem (and often asked question) is, "when should I start buying?" For that, I would...

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Good evening traders! I know... I know... I know... the chart is ugly. I apologize. Also... It's XRP. The ultimate, centralized shitcoin. The key thing to remember is that we are traders. The fundamentals of a project are irrelevant to our technical analysis. Wasa... wasa... wassssup! We always trust our charts and look for patterns to repeat. In this...

jacobcanfield

Chop. c h o p. CHOP. The last 3 months have been nothing but ranging chop and have humbled many traders. I am not a big fan of trading ranges, but have had some good trades nonetheless playing the support and resistance levels. I've also had my fair share of stop losses hit in the nasty stop hunts on the low liquidity margin exchanges. That being said, I did...

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Massive downtrend after a 5 wave impulse. - Holding support on the 78.6% fibonacci level. - First test of the 200MA (doesn't usually break first try.) - Testing the previous supply orderblock for the first time. - RSI bounce zone historically (holding 30) - Targeting 13-22% back up to the 61.8% fibonacci zone. - REN/LINK typically move together and REN has...

jacobcanfield Updated 

Good evening traders. I thought for this analysis, I would give a bit more practical scenarios for Bitcoin movements in the coming days. From a high time frame perspective, we are have been consolidating in a 20% range for over 2 months now. We are just bouncing back and forth between the 50% fibonacci zone and previous weekly resistance from March 2018 and...

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Are we going to see a similar move like this after a big wick taking out both longs and shorts? I was going through my analysis and we broke down as predicted in my last two updates and we are getting very close to the 'secret bitcoin buy zone' on the weekly 21 EMA with our RSI resetting to our bull market support. If you haven't seen my 'secret chart' yet,...

jacobcanfield Updated 

Hello traders! I hope the markets have been treating you well and you've been crushing all of your trades. In today's post, I want to give away a chart that has made me a lot of money dating back to 2016. I also want to go in to detail on how I use the RSI to determine when to get in and out of Bitcoin by determining bearish and bullish control as well as the...

jacobcanfield Updated 

Afternoon traders! As I mentioned in my last update, I expected a continuation to the $10,000 zone to tape the liquidity before any other upside movements. We got the bull trap around $11,000 that I had also mentioned before seeing the $1,000 move to the downside. We are currently still in this tight consolidation range before determining our next trend. There...

jacobcanfield Updated 

Good morning traders! Bitcoin has had little to no movement in the past 24 hours as buyers and sellers are at a stand still on price. Currently, looking at the chart, we can see we had a strong push out of the $9000 zone on a single hourly candle that took us from $9200 to $10700. This also lines up with our 38.2% fibonacci zone on this recent swing. We have...