Hey followers and other TradingView users!
My last week bullish bias was correct and the price is made new short-term higher high (HH) and higher low (HL). The price manages to break above the bullish chart pattern Falling Wedge upper trendline and it found momentum after that (watch my previous analysis about Falling Wedge below of this post).
Now, the price should make a continuation pump upwards to the next key point which should be around $3,765 or at least it should stay between $3,657-$3,765. This area is a key point because if it breaks above of it then we are again on the safer area (from a technical analysis perspective) but why I think it should be a bit safer area?!
Below the green area - a bit safer area - is the gray trendline which is pulled from ~29. November and currently it is the major down trendline. If the price could manage to break above of it then the mid-term downtrend should be over and the price SHOULD make first bigger bullish breakouts and we could see more important bullish confirmations after the break above the gray trendline. Currently, altcoins are on the good shape which will be a sign that the whole market starts to make a little pullback (movement upwards).
If the FOMO (fear of missing out) doesn't kick in heavily then the price should make a little throwback after it has touched the $3,765, so, watch it carefully if the price reaches into this area. The area is very strong to beat it after a pretty nice pump. Strong area criteria ($3,765):
1. New higher high, usually it needs good power to make those.
2. The major down trendline is also around the area and those two together are very hard to beat.
Probably we see a throwback after it has tested it, a little breathing time and if the market is healthy with the new higher highs and higher lows then the second attempt should and HAVE TO BE successful. If we can't make a breakout above the gray major down-trendline and the price stays there for a while then this could be a sign that we may enter into the danger area. Danger area is the red area below $3,657.
Currently, the price could make a double top with RSI Divergence inside of it and if the price falls lower than the neckline then the trend is your friend and we heading downwards. So, watch out for that pattern and be careful if the price starts to fall inside the red area!
SUMMARY: Overall nice bullish confirmations from last week with new higher highs and higher lows. Some altcoins are made pretty nice profits and this could be a sign that the whole market makes a little recovery.
Next bullish confirmation should come after the gray trendline break - candle close (at least 4H) above $3,765
Bears should come into the playing field a bit aggressively from the red area which starts at $3,657 and lower!
It is nice to be back and please, do not forget to support my idea post by hitting the "LIKE button!
Thank You very much!
Have a nice week!
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Previous analysis:
My last week bullish bias was correct and the price is made new short-term higher high (HH) and higher low (HL). The price manages to break above the bullish chart pattern Falling Wedge upper trendline and it found momentum after that (watch my previous analysis about Falling Wedge below of this post).
Now, the price should make a continuation pump upwards to the next key point which should be around $3,765 or at least it should stay between $3,657-$3,765. This area is a key point because if it breaks above of it then we are again on the safer area (from a technical analysis perspective) but why I think it should be a bit safer area?!
Below the green area - a bit safer area - is the gray trendline which is pulled from ~29. November and currently it is the major down trendline. If the price could manage to break above of it then the mid-term downtrend should be over and the price SHOULD make first bigger bullish breakouts and we could see more important bullish confirmations after the break above the gray trendline. Currently, altcoins are on the good shape which will be a sign that the whole market starts to make a little pullback (movement upwards).
If the FOMO (fear of missing out) doesn't kick in heavily then the price should make a little throwback after it has touched the $3,765, so, watch it carefully if the price reaches into this area. The area is very strong to beat it after a pretty nice pump. Strong area criteria ($3,765):
1. New higher high, usually it needs good power to make those.
2. The major down trendline is also around the area and those two together are very hard to beat.
Probably we see a throwback after it has tested it, a little breathing time and if the market is healthy with the new higher highs and higher lows then the second attempt should and HAVE TO BE successful. If we can't make a breakout above the gray major down-trendline and the price stays there for a while then this could be a sign that we may enter into the danger area. Danger area is the red area below $3,657.
SUMMARY: Overall nice bullish confirmations from last week with new higher highs and higher lows. Some altcoins are made pretty nice profits and this could be a sign that the whole market makes a little recovery.
Next bullish confirmation should come after the gray trendline break - candle close (at least 4H) above $3,765
Bears should come into the playing field a bit aggressively from the red area which starts at $3,657 and lower!
It is nice to be back and please, do not forget to support my idea post by hitting the "LIKE button!
Thank You very much!
Have a nice week!
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Previous analysis:
Comment:
A pretty big statement from BTC!!
New BTC Analysis:
Do not forget to hit the "LIKE" button to support my ide post!
Thank you!!
New BTC Analysis:
![BITCOIN [BTC] Price Made a Strong Bullish Statement!!](https://s3.tradingview.com/s/SrCn6RHt_big.png)
Thank you!!
More favorable is a little throwback!