Buyers might already be in control, they just don't know it yet.
We could actually have had our last leg down of the bear trend on the 11 of October;
From January till now, the massive sellers appears to have gradually lost control, the size and time frame of the massive legs down became less and less strong;
Bitcoin tried to form a bottom;
The last leg down from October was very quickly bought and a short squeeze appeared;
After this short squeeze, the trading range is extremely tight : this might announce the start of a new trend (blue rectangle);
Market is also showing signs of sellers exaustion:
Reversal candle visible on the 3D chart, and on the weekly chart
3D Chart:
Weekly chart:
This weekly trend reversal is actually very important, and i insist Bitcoin might still have bottomed at 5.700$ when the structure created an Head and Shoulders bottom in June (www.tradingview.com/...y-bottomed-at-5-800/)
All is very calm, people and medias are bearish on cryptocurrencies right now, the BB are very tight.
This should be set in as a contratian way of trading, which means that this is again a market buy opportunity.
We still need to remain alert;
We want and need to see Bitcoin piercing the 2 main Smmas, and establishing a support on them if possible.
Trading this market is very risky, i could be wrong and we could assist to a last leg down in Bitcoin.
Summary:
Buyers might already be in control, they just don't know it yet.
They are scared of incoming leg(s) down.
The comfirmation of the bear trend reversal would be why not a bear trap such as this one of 2015
Followed by a break out of the 2 daily Smmas, and a support move on them.
From January till now, the massive sellers appears to have gradually lost control, the size and time frame of the massive legs down became less and less strong;
Bitcoin tried to form a bottom;
The last leg down from October was very quickly bought and a short squeeze appeared;
After this short squeeze, the trading range is extremely tight : this might announce the start of a new trend (blue rectangle);
Market is also showing signs of sellers exaustion:
Reversal candle visible on the 3D chart, and on the weekly chart
3D Chart:
Weekly chart:
This weekly trend reversal is actually very important, and i insist Bitcoin might still have bottomed at 5.700$ when the structure created an Head and Shoulders bottom in June (www.tradingview.com/...y-bottomed-at-5-800/)
All is very calm, people and medias are bearish on cryptocurrencies right now, the BB are very tight.
This should be set in as a contratian way of trading, which means that this is again a market buy opportunity.
We still need to remain alert;
We want and need to see Bitcoin piercing the 2 main Smmas, and establishing a support on them if possible.
Trading this market is very risky, i could be wrong and we could assist to a last leg down in Bitcoin.
Summary:
Buyers might already be in control, they just don't know it yet.
They are scared of incoming leg(s) down.
The comfirmation of the bear trend reversal would be why not a bear trap such as this one of 2015
Comment:
For fractal lovers :
Comment:
Finally, Bitfinex (Tether Usd) and Bitstamp (Usd) are starting to share a close Bitcoin value again.
Tether is still here and seems to be in a healing process
Tether is still here and seems to be in a healing process
Comment:
Soon Trading view should be able to introduce "transparent candles" if Btc keeps on this way
Comment:
Idea's title still valid yet
Comment:
If you press play you will see that Bitcoin used the descending line as a support