Good morning! BTC yesterday's candle closes above the magic $6666 which is a good sign but at the moment we have broken down this level and retest again this red curve support line! If we want to be bullish here then we have to find nice support bounce from $6500-$6560! In this level, we have so much retest touches! We retest the curve support, the trendline (blue), the round number $7500 and the breakout zone which is around $6550. So we have lots of criterias to bounce back up from there!
IF we break down each support after another and we see 1h or 4h candle close below $6500 then our bias should be turned back to a bearish and possibly come down to $6250-$6300 Let's see what the price action shows to us!
Don't forget to share this, hit the like and the follow button if you feel this topic deserves it! That's the best way to support me and help to push this analysis to other users. Best regards! To be continued...
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Thanks for the D4 I find the important resistance in this area! TRENDLINE SINCE 17.05.2017. There we need a lot of power to push through that trendline! And yesterday we touched almost by the pip and came quickly down again!
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We have a perfect breakout trade example! Breakout from consolidation box and retest this area to go down again! Let's see if we break one support - a curve support! Then we have two bearish confirmations already: breakout and retest + breakout from the curve support!
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+ another bearish sign is continuation pattern "Rising Wedge" on the 15 min chart!
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We heading downwards - at the moment the first steps are made! *Break the support at $6666 and retest it *Breakout from continuation pattern "Rising Wedge" *100&200 EMA's crossover *Break the curve support 15min candle confirmations are little weaker but we had already several bearish signs!
Don't forget to share this, hit the like and the follow button if you feel this topic deserves it! That's the best way to support me and help to push this analysis to other users.
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LOL Looks like the curve support is pretty amazing level :D
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Second time in the two days period we touched THE BIG Trendline since 17.12.2017
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All hell will be break loose if we break this trendline :D
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Looks like we have found a very strong resistance @ $6766! Price have tried to push through from there 10(!!!) times and failed! This trendline zone is pretty significant to watch! So we slow down from here and let’s continue in the morning! All the best to You!
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Good morning! As I said we slow down at the moment and here it is - sideways movement again! In 1h timeframe 13th attempt to break $6765 was successful (1h candle close above this level) but quickly back below! Like You see on the image below in 4h timeframe we have touched this level 7 times and no close above red area. At the moment we have doji what could indicate the price reversal.
Overall this price level is very messy and powerful! If we manage to break this level upwards then You can be sure there are more buyers than only whales.
So, mixed signs: *We have a sloppy ascending triangle - bullish *We have a pretty significant curve support bounce - bullish *We have a breakout from one of three trendlines - bullish *We have a doji in 4h timeframe - bearish *We have ultra strong resistance area trendlines and etc. - bearish *We have a weekly candle close below $6500 - bearish
Long story short if we drop from here we drop like a hell (targets on the next update) if we break upwards my thoughts are instantly bullish about BTC!
Don't forget to share this, hit the like and the follow button if you feel this topic deserves it! That's the best way to support me and help to push this analysis to other users. Best regards! To be continued...
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Sideways, sideways, sideways - I shared 3 bearish and 3 bullish sings in the morning maybe that's why :)! After the post in the morning price have touched again this red resistance area (bounced quickly back) and the smaller support area. This support touch was also the red trendline retest, which is bullish price action....but,but...at the moment we trade below the curve trendline which is the bearish price action. Right now we don't have completely broken this but we are close to breaking on the support before the dump! All the market look's like waiting for some move either direction. My thoughts are 70% down and 30% up!
Don't forget to share this, hit the like and the follow button if you feel this topic deserves it! That's the best way to support me and help to push this analysis to other users. Best regards!
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The bearish confirmation area around $6550-$6600! Had to break curve trendline (red), trendline (blue), back to the other side the trendline since 17.12.2017 and second touch 05.05!
Congratulation for your TA, you was technical, clean and pondered the facts. I believe that your proportion of 70 - 30% is valid. Let's check it out!
VaidoVeek
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@Pavoe, Thank You! Like I say, I try my best for You guys! It just looks more bearish at the moment can't do anything ;)
cpiljoo
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Thanl you for detailed analysis which is really awesome!
VaidoVeek
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@cpiljoo, Thank You for your words! It's nice to start the morning like this ;)
JayCGianfreda
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Hello. I Like your analysis. But I should recommend you to not overload your charts since it is very difficult to spot the highlights with all those artificial stuffs
Keep up the good work !
VaidoVeek
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@BigJayCJ, Hello! Thank You very much and THANK YOU for your feedback! I always think: "mhh..do they understand what I mean and etc. is there too much stuff in the chart, yeah it is but what I take out, this is important, this is important, mhhh this is also important" and so it goes! :D But thank You and I try to improve! TO THE TOP!!! ;)
Regards!
JayCGianfreda
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@VaidoVeek, I think this is also a matter of characters. Lines & texts are maybe too large.
But this is probably only disturbing my person and nobody else ^^
Could you make an analysis on AST/BTC ? If you have time to spend
Jay
VaidoVeek
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@BigJayCJ, At the moment nothing to say, some price action criteria's is there, but if BTC drops You know what happens? The answer is: ALL THE MARKET DROPS ;)
Regards!
VaidoVeek
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@VaidoVeek, This is just a quick look! Not deeper analysis :)
BullBearHesitant
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@VaidoVeek, I think your chart is nice and well explained :)