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After the Friday's movement upwards, the BTC' price has made a throwback (movement downwards) to some critical levels but luckily it got a rejection from those levels, and the critical levels are:
- The triangle bottom trendline, which is also the major counter trendline (if we look at this in the bigger picture)
- The minor counter trendline (orange)
- The Fibonacci perfect retracement level 61.8%
Those three are currently the major supports if we look at this from price action perspective. We don't want to see that the price or the candle get a close (at least 4H candle) below one of the mentioned levels.
Also, as You see, we are very close to the triangle tip and hopefully, You already know what would happen if the tip comes to very close - the price will explode and it could make a move what we have waited for a very long time to get a little bit clearer price direction.
Maximum wait time would be three days then I can say what the mid-term direction would be but many analysts in the TV has said that they don't see that the price could make a new lower low in 2018.
One of the reason would be the end of the year bull runs through the time. November and December have been pretty bullish over the years and current price action would confirm that with the constant higher lows printed on the chart.
The current, bounce came from very important area what I mentioned before but as usual, the volume is super low. We need a little support from the altcoins, we need that they do little bit bigger moves upwards. BTC' needs also a bigger move upwards because we are on the edge with BTC' price but don't worry I think you're used to be on the edge ;)
Here are the reminders for a bullish scenario and for a bearish scenario:
Mid-term bullish confirmation area:
- A candle close above the triangle upper trendline (black line)
- A candle close above the Oct. first week low which has worked nicely as a resistance
- A candle close above the strong resistance area at $6,460.
So those three are the main obstacles before we can start a mid-term movement upwards, the target would be the well-known $7,000 BUT we can't forget the round number which is the $6,500. This could be also on the list but I think if we manage to break above those first three then the round number break will come easily.
Mid-term bearish confirmation area:
- A candle close below the counter trendline (orange line)
- A candle close below the counter trendline (black line), this could be the perfect trade opportunity for shorts because of the overall trend is down and if we get a break below the counter trendline (a candle close below the trendline) then it would be a good and powerful sell setup.
The targets would be:
- $6,250
- $6,125
- $6,000
- $5,750
Summary: Currently, I'm slightly bullish because of the HL's on the chart but actually this is really on the edge. As I said, we need a little bit bigger support from the altcoins.
Hopefully, this breakdown helps You out a little bit to confirm Your own analysis!
If You want to see the altcoins weekly reviews, then visit "CryptoComes" profile in the TradingView!
Please, don't forget to LIKE!
Thank You for your support!
Have a nice weekend!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
After the Friday's movement upwards, the BTC' price has made a throwback (movement downwards) to some critical levels but luckily it got a rejection from those levels, and the critical levels are:
- The triangle bottom trendline, which is also the major counter trendline (if we look at this in the bigger picture)
- The minor counter trendline (orange)
- The Fibonacci perfect retracement level 61.8%
Those three are currently the major supports if we look at this from price action perspective. We don't want to see that the price or the candle get a close (at least 4H candle) below one of the mentioned levels.
Also, as You see, we are very close to the triangle tip and hopefully, You already know what would happen if the tip comes to very close - the price will explode and it could make a move what we have waited for a very long time to get a little bit clearer price direction.
Maximum wait time would be three days then I can say what the mid-term direction would be but many analysts in the TV has said that they don't see that the price could make a new lower low in 2018.
One of the reason would be the end of the year bull runs through the time. November and December have been pretty bullish over the years and current price action would confirm that with the constant higher lows printed on the chart.
The current, bounce came from very important area what I mentioned before but as usual, the volume is super low. We need a little support from the altcoins, we need that they do little bit bigger moves upwards. BTC' needs also a bigger move upwards because we are on the edge with BTC' price but don't worry I think you're used to be on the edge ;)
Here are the reminders for a bullish scenario and for a bearish scenario:
Mid-term bullish confirmation area:
- A candle close above the triangle upper trendline (black line)
- A candle close above the Oct. first week low which has worked nicely as a resistance
- A candle close above the strong resistance area at $6,460.
So those three are the main obstacles before we can start a mid-term movement upwards, the target would be the well-known $7,000 BUT we can't forget the round number which is the $6,500. This could be also on the list but I think if we manage to break above those first three then the round number break will come easily.
Mid-term bearish confirmation area:
- A candle close below the counter trendline (orange line)
- A candle close below the counter trendline (black line), this could be the perfect trade opportunity for shorts because of the overall trend is down and if we get a break below the counter trendline (a candle close below the trendline) then it would be a good and powerful sell setup.
The targets would be:
- $6,250
- $6,125
- $6,000
- $5,750
Summary: Currently, I'm slightly bullish because of the HL's on the chart but actually this is really on the edge. As I said, we need a little bit bigger support from the altcoins.
Hopefully, this breakdown helps You out a little bit to confirm Your own analysis!
If You want to see the altcoins weekly reviews, then visit "CryptoComes" profile in the TradingView!
Please, don't forget to LIKE!
Thank You for your support!
Have a nice weekend!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Comment:
..and here we are, as expected we got another bullish move to the resistances! To get full confirmation then we need a breakout from them:
- A candle close above the triangle upper trendline (black line)
- A candle close above the Oct. first week low which has worked nicely as a resistance
- A candle close above the strong resistance area at $6,460
- A candle close above the triangle upper trendline (black line)
- A candle close above the Oct. first week low which has worked nicely as a resistance
- A candle close above the strong resistance area at $6,460
Comment:
LIKE, FOLLOW & COMMENT!
Thank You for your support, it motivates me to make those analysis!
To The TOP! :)
Thank You for your support, it motivates me to make those analysis!
To The TOP! :)
Comment:
PERFECT, we got a breakout above the mentioned three resistance levels and we have a 4H candle close confirmation! Over a very long time the move has happened on the weekend, where there should be the lowest volume of the week but currently, believe or not, we have a breakout and we have a candle close to confirm this!
Now, as I mentioned we can not forget the round number $6,500, at the moment we got rejection from there (also from 200 EMA, which act as a resistance) but let’s see, I think we see a continuation move upwars and the first target would be the $6,767 because altcoins makes also some nice profits!!
Thank You for your support and thank You for all those likes! I really appreciate it!
All the best and have a great weekend!!
Now, as I mentioned we can not forget the round number $6,500, at the moment we got rejection from there (also from 200 EMA, which act as a resistance) but let’s see, I think we see a continuation move upwars and the first target would be the $6,767 because altcoins makes also some nice profits!!
Thank You for your support and thank You for all those likes! I really appreciate it!
Comment:
First of all, thank YOU for all those likes! That means a lot to me, thank You again!
But the market never stops and here is the NEW IDEA post:
Let's try to do the same with this post ;)
Thank You and hopefully, it is helpful!
LIKE, SHARE & FOLLOW!
Have a nice week!
But the market never stops and here is the NEW IDEA post:
Thank You and hopefully, it is helpful!
LIKE, SHARE & FOLLOW!
Have a nice week!
Comment:
We got a 4H candle close and we got three signs - 2 bad signs, 1 good sign.
Let's starts from bad:
The 4h candle closes below the EMA 100 and below the support (blue line). This will indicate that we might see a throwback (movement downwards) to the mentioned $6,370-$6,400 area. Also, the altcoins make a throwback and even if they started to climb a little bit in the morning then currently, most of them are on the minus side!
The good sign is the FIB level:
At the moment the latest 4h candle close was above the FIB retracement level 38%. To be on the good, powerful and healthy uptrend, then this is the perfect momentum Fibonacci level where You want to see a bounce upwards but considering the volume on the market, where all takes time and we move like in slow-motion then I don't bet on this, I need more than that! Maybe we can catch something from the next hours but still a sign ;)
I'll try to keep You posted!
Meanwhile hit the LIKE button!
Thank You for your support! ;)
All the best!
Let's starts from bad:
The 4h candle closes below the EMA 100 and below the support (blue line). This will indicate that we might see a throwback (movement downwards) to the mentioned $6,370-$6,400 area. Also, the altcoins make a throwback and even if they started to climb a little bit in the morning then currently, most of them are on the minus side!
The good sign is the FIB level:
At the moment the latest 4h candle close was above the FIB retracement level 38%. To be on the good, powerful and healthy uptrend, then this is the perfect momentum Fibonacci level where You want to see a bounce upwards but considering the volume on the market, where all takes time and we move like in slow-motion then I don't bet on this, I need more than that! Maybe we can catch something from the next hours but still a sign ;)
I'll try to keep You posted!
Meanwhile hit the LIKE button!
Thank You for your support! ;)
All the best!
Comment:
ALERT!! A possible breakout upwards from the continuation pattern called "Falling Wedge"!
Comment:
Woww...600 likes!
Thank you and you and You!!
I really appreciate it, that is a huge motivator!
All the best!
Thank you and you and You!!
I really appreciate it, that is a huge motivator!
All the best!
Comment:
Hi!
Bears are under the pressure and it looks like we might get some bullish movement!
Bullish signs:
1. Golden cross between the 100 & 200 EMA
2. Golden cross between the smaller EMA's 8 & 21
3. Currently, we trade above the short-term counter trendline, the move upwards is supported by the golden crosses
4. We are above the strong area at $6,460
5. FIB 38% level has held us pretty nicely
6. ALTCOINS are in the good chape!
Bears are under the pressure and it looks like we might get some bullish movement!
Bullish signs:
1. Golden cross between the 100 & 200 EMA
2. Golden cross between the smaller EMA's 8 & 21
3. Currently, we trade above the short-term counter trendline, the move upwards is supported by the golden crosses
4. We are above the strong area at $6,460
5. FIB 38% level has held us pretty nicely
6. ALTCOINS are in the good chape!
Comment:
@alanmasters is one of my favorite analyst in tradingview with detailed analysis! He use some indicators what I don't and this means - You can combine our TA.s nicely! Do not hesitate and FOLLOW him!!"
Comment:
NEW POST: BITCOIN - Which Scenario Is More Favorable??
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Thank You for your support, it has been amazingly motivative!!
Thank You for your support, it has been amazingly motivative!!
We got a pretty good pump upwards and most importantly the altcoins are supporting this BTC’ move. They are on the green side and many altcoins are high gainers!
The orange counter trendline has held us nicely and now there could be that power what we need to break through from those resistances!
Currently, it looks very bullish, the whole market looks bullish!
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