This is somewhat of an update of my previous "idea" (can also be read standalone if you like). If you are not familiar with ..
To summarize:
In my previous idea I'd drawn that peculiar pink and purple channel that coincidentally flipped at the December 2018 low.
'Shortly' after the "Bottom" BTC formed a new uptrend, drawn in blue.
BTC went up to the top of the Blue channel after which some heavy "profit taking" occurred.
It seems it has started to form a downtrend channel now (in red).
The lower boundaries are based on the first two wicks (on bitstamp) and might be somewhat preliminary.
Since prices often fluctuate between exchanges it's always difficult to be precise about supports, resistances and trendlines
but it looks like BTC is trying to find support on the purple "peculiar channel" again. First touch was met with heavy volume.
Further confirming the "red downtrend".
I don't usually do "predictions" (that's not what Technical Anal-ysis (c) (tm) is about) but i would say there is a fair chance that we might see the bottom-area of the larger "blue uptrend" (one of many reasons might be a so called "Futures Gap" (bit troublesome since the gap is under the blue uptrend bottom - the two red boxes).
So .. don't be alarmed if you see $8500. If it goes under that .. we will see ..
To summarize:
In my previous idea I'd drawn that peculiar pink and purple channel that coincidentally flipped at the December 2018 low.
'Shortly' after the "Bottom" BTC formed a new uptrend, drawn in blue.
BTC went up to the top of the Blue channel after which some heavy "profit taking" occurred.
It seems it has started to form a downtrend channel now (in red).
The lower boundaries are based on the first two wicks (on bitstamp) and might be somewhat preliminary.
Since prices often fluctuate between exchanges it's always difficult to be precise about supports, resistances and trendlines
but it looks like BTC is trying to find support on the purple "peculiar channel" again. First touch was met with heavy volume.
Further confirming the "red downtrend".
I don't usually do "predictions" (that's not what Technical Anal-ysis (c) (tm) is about) but i would say there is a fair chance that we might see the bottom-area of the larger "blue uptrend" (one of many reasons might be a so called "Futures Gap" (bit troublesome since the gap is under the blue uptrend bottom - the two red boxes).
So .. don't be alarmed if you see $8500. If it goes under that .. we will see ..
Comment:
Please take note:
the chart does not show the red-downtrend correctly .. for some reason lines "move" when switching between timeframes (snap to grid?!)
it should look more like this
the chart does not show the red-downtrend correctly .. for some reason lines "move" when switching between timeframes (snap to grid?!)
it should look more like this
Comment:
channel clearly broken .. idea no longer valid ..
that is to say: not THIS channel any more
BTC can still continue (temp?) downtrend but with a lot bigger bumps and humps
it was a preliminary channel anyhow as stated in opening-post
that is to say: not THIS channel any more
BTC can still continue (temp?) downtrend but with a lot bigger bumps and humps
it was a preliminary channel anyhow as stated in opening-post
Comment:
one of MANY possibilities
Comment:
first gap filled
we have a better defined downtrend too
stronger uptick than expected, nonetheless respected my dotted line ;)
we have a better defined downtrend too
stronger uptick than expected, nonetheless respected my dotted line ;)
Comment:
one for the road
for my haters ...
for my haters ...
It's speculating on the 'possible' future price of Bitcoin (or any other asset).
Future contracts are settled at specific times, if the price rises or falls very fast within that set timeframe it will leave "gaps" in the pricechart.
These "gaps" might (often do) get filled eventually (giving a glimpse of possible futures prices)