#BitcoinAnalysis 29.03.2019.
#Fundamentally
- In the news, we have mostly had good news lately, and we are seeing larger players sign up in the adoption of the tech phase, the infrastructure is being built up and the market is planning another bullmarket in the long term view.
- The news about Wash Trade between exchanges may have an impact on us getting a lower drop.
- BTC has now been in its second longest bear market ever, if we count 12thc as the end of the bear market. (only valid if we now do not keep a new lower low.)
#TechnicalAnalysis
- Bitcoin forms a very big falling wegde which is a bullish indicator mainly.
- Bitcoin is located in a medium sized symmetrical triangle which was basically bearish and has made many believe that we would get a breakout down from 4k resistance as such a triangle is a continuation triangle.
- Bitcoin is again in a new, less symmetrical triangle that may indicate that BTC has become bullish, as we now come from a breakout upwards from a bearish pattern we are most likely to continue up. (Soon played out so expect a move very soon.)
- Bitcoin's latest move up again surprised many traders when every one expected a longer dip.
⏱4\h charts:
- Bitcoin has held support after 100sma crossed over 200sma on 19.02.2019
- If Bitcoin now loses support 3950 and 3850 I think then it will definitely get a new retest of support 3500 and if we lose that also i expect a bigger dip to the downside.
⏱3\days chart: Trying to look at the bigger picture
- BTC has closely support from 3sma and 7sma around 3850-4000 and 27sma has support abit under now at ish 3750$ I do think if BTC lose this support it will go on another big drop. (3750 is a importen key level for me to watch) for any support and market reaction
- Notices that 3 and 7 sma had crossover 27sma which has act as resistance since July 2018. Just A couple of days after the 100sma crossover the 200ema on the 4 chart.
- RSI has broken over resistance level and can therefore go even higher if it now finds support on the last resistance level, also note how far down we were during last big dip from 6k to 3k, last time rsi had similar levels was at the end of bear market 2013. Earlier in history we only had 2 such buying opportunities, and if you bought bitcoin then you could sell it ish 1600% higher next bull market.
- Macd has shown signs that buyers have lost momentum in recent weeks, but this does not mean that we will not get a new momentum from the buyer's side.
Also: an image that can show both cases
#All - Traders are expecting a bigger move soon, so be ready for both sides.
#Myself - I myself have a stoplimit around 3900-3750 just to play it out safe )
#Keylevel - to watch if we losing support 3750-3500$
#Target - if we break out #4400$ \ 4700$|
PS: This is a moment you dont want to enter a trade, if you are not in wait for next move! :)
Enter when clearly confirmed breakout mabye around 4180-4220.
#Fundamentally
- In the news, we have mostly had good news lately, and we are seeing larger players sign up in the adoption of the tech phase, the infrastructure is being built up and the market is planning another bullmarket in the long term view.
- The news about Wash Trade between exchanges may have an impact on us getting a lower drop.
- BTC has now been in its second longest bear market ever, if we count 12thc as the end of the bear market. (only valid if we now do not keep a new lower low.)
#TechnicalAnalysis
- Bitcoin forms a very big falling wegde which is a bullish indicator mainly.
- Bitcoin is located in a medium sized symmetrical triangle which was basically bearish and has made many believe that we would get a breakout down from 4k resistance as such a triangle is a continuation triangle.
- Bitcoin is again in a new, less symmetrical triangle that may indicate that BTC has become bullish, as we now come from a breakout upwards from a bearish pattern we are most likely to continue up. (Soon played out so expect a move very soon.)
- Bitcoin's latest move up again surprised many traders when every one expected a longer dip.
⏱4\h charts:
- If Bitcoin now loses support 3950 and 3850 I think then it will definitely get a new retest of support 3500 and if we lose that also i expect a bigger dip to the downside.
⏱3\days chart: Trying to look at the bigger picture
- BTC has closely support from 3sma and 7sma around 3850-4000 and 27sma has support abit under now at ish 3750$ I do think if BTC lose this support it will go on another big drop. (3750 is a importen key level for me to watch) for any support and market reaction
- Notices that 3 and 7 sma had crossover 27sma which has act as resistance since July 2018. Just A couple of days after the 100sma crossover the 200ema on the 4 chart.
- RSI has broken over resistance level and can therefore go even higher if it now finds support on the last resistance level, also note how far down we were during last big dip from 6k to 3k, last time rsi had similar levels was at the end of bear market 2013. Earlier in history we only had 2 such buying opportunities, and if you bought bitcoin then you could sell it ish 1600% higher next bull market.
- Macd has shown signs that buyers have lost momentum in recent weeks, but this does not mean that we will not get a new momentum from the buyer's side.
Also: an image that can show both cases
#All - Traders are expecting a bigger move soon, so be ready for both sides.
#Myself - I myself have a stoplimit around 3900-3750 just to play it out safe )
#Keylevel - to watch if we losing support 3750-3500$
#Target - if we break out #4400$ \ 4700$|
PS: This is a moment you dont want to enter a trade, if you are not in wait for next move! :)
Enter when clearly confirmed breakout mabye around 4180-4220.
