S.U
S.U 4 minutes reading from Bitcoin

Saitama Chart Update: Price Analysis and Trading Update

Start again by saying, hard to chart thanks to BTC / Macro Events / SPX failing at resistance /etc

But since the below tweet the chart has held well, many alts making new lows & Saitama holding position

Thread 🧵/ General Thoughts on Saitama Chart / Hope its appreciated

1/7

If BTC was a in bullish mood, you could easily say the pattern right now could be Cup and Handle, excluding the wick down which we know what that was, but we do have some diagonal resistance here

1d - 21/50d EMA running closer, positive cross might push PA

Cont

In hindsight this was a huge bear flag and was told this from one account but didn't act - apols @CryptoDevil9

But as I mentioned at the start of Dec, I like how the chart has rounded, selling eased, more stability and a cause for a larger Rounding Bottom

Rounding bottoms can easily turn into Cup and handles etc, but we will just have to see how it goes

But I don't expect the PA to zoom back up tho, BTC is in a odd place which it cant beat 16.9k, that is the initial key to flip for Alts to push in the near future.

Cards on table, I accumulate slowly, I know many dont though as they may have got in early or simple fact they think BTC will go lower

From the bears I hear - Alts will lose 30% more - in that case Saitama will be around the 8s - so personally happy to buy little and often now

Last chart tweet, nice support just above the 1s, few bids I had were picked up, few missed out.

Hope people found this interesting - Like i said hard to with BTC but will always try my best to help

Anyway, I just want to wish all a Happy Xmas and New Year

Its been a hard year in crypto in general, lets see if it improves for 2023

🐺

This post is based on this twitter thread.

Comments

Please login to comment.