botje11

Bitcoin going sideways while Alts moving up

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I was about to write a big analysis on Bitcoin', but i hope you understand me when i am saying it's just a waste of time.

I think that curved pattern on the left is legit now. On the right we are turning slightly up, we just need a candle close above the red resistance zone . So no more Bart moves or whatever nonsense. The past 2 hours it seems something is going on, i posted about it in my channels and have been moving up 20/30 points since, so could be real and not just noise. ETH' is getting pumped big time, others are slowly crawling up as well but i think the whole market is waiting for Bitcoin to break the 3700ish, which has been the real turning level between bear and bull for quite some time now.

To keep the story short and simple for the short term, i would watch the red and green zone on the right. With the green being the support of that curved blue line and the red being the resistance around 3610/20, which has been the resistance since the first time we saw a Bart move a week ago.

Anything above 3450/80 can still be a bullish version for the start of this possible impulse wave up. Of that breaks, it could be game over. But i think if the 3550/500 breaks, it will probably be over already. I don't think the market can handle a drop below that support zone .
Most important factor of all, we need to see the volume increase much more. It has been increasing today, so the current battle could be real, but we need much more than this. But that will probably happen above the 3620/50. But if it happens, the bull need to hold their levels, no wicks!

If we break the 3700/3450 zone, i will write a normal analysis again.



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Previous analysis:

Feb 17
Comment: Not easy to compare it with other similar moments, but the only one i can think of now, is that movement before we squeezed up 10 days ago. The orange circle, but that means the bull need to hold their ground on the 1m chart, like their doing now.

Feb 17
Comment: So we had a break up, everything looked very good. Buying volume was increasing, bulls were keeping the pressure on, small squeeze up was forced and as a million times before, it got pushed down again.

On the left, we can see the 'Bart' move bear flag. If we stay below that red zone, we will see another move down prob the next 6/24h. On the right we can see a possible inverse H&S, with a neckline that is becoming more clear now, the 3700ish zone which is a level i have been talking about for a while now.

So a realistic view for the coming few days (in combo with the current Bart move), is making a higher low around 3600. Creating a small triangle on the inside of the right shoulder. If we keep following that pattern the coming days (or simply move up from here), we could really see something happen the coming period.

Feb 17
Comment: So the Bart move is prob invalid already, starting to look like a normal move again, good buying where bulls step up and hold their levels. I am calling it a day now, curious to see if they can pull it off. Since the bulls caught 'bart' move dump, it is starting to look more and more like the Dec rally.

Feb 18
Comment: Bulls doing their thing so far, keeping pressure on the bears, good volume, keeping price against the resistance. Alts keep moving up as well, so normally there is no other way than up. Bulls need to keep the pattern of higher lows. So max drop of 3630, but actually not even below 3670
Feb 18
Comment: Things could cool down a bit now, but the move up since yesterday is very good an strong so far, alts breaking up as well, volume is good! No ugly short squeeze, good solid strong buying, just like in December.

Short term we we could see a correction down towards 3800. But I think there is one more wave up before a bigger correction (in time and price) happens. Still a target around 4000/4050, something I told my members a few hours ago.

So the big ABC up, what I called for since the Dec 3200 low seems to become reality. Depending on the strength of this move, we could see if this rally is just a correction of the down trend of the start of a new bull trend.

I will try to write a new analysis later today
Feb 18
Comment: As promised, a new Bitcoin analysis:

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I went 5900 on BTC, should tank now :(
Reply
So BTCUSDSHORTS broke down, what does this imply?
Reply
Here is why this pump is not to be trusted.
Most of the folk that bought are veterans, and they are in..
Enough said.
Reply
mbc47 mbc47
@mbc47, by veterans i mean crypto enthusiast, checking charts and prices everyday.
No new blood for anything that goes above 4k -- perfect setup to retest some lows
Mar will be painful
Reply
mbc47 mbc47
And please don't make the rookie mistake to think bulls vs bears...it ain't like that :)
It is smart and big money that can sway the market and the other side.

Smart money always plays both sides...they go after the gain.
They don't care about your bitcoin :)
+1 Reply
if you see the move before it happens , then i would say you mean business
Reply
I sold all my Litecoin at 47$ and then bought back in at 22.50.. added on at 30$. I'm in heaven right now. Just awesome.
+3 Reply
kardia Snuby3
@Snuby3, don't understand why you feel the need to brag. Are you looking for someone to pat you on the back?
+5 Reply
Sad to see the evil manipulation still playing games and sucking people in. This is nothing but a trap and many more people will lose to those who are manipulating this market.
+3 Reply
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