Please forgive me. This will be a very short update - D4rkEnergY will not let you down, so I will make an update. But I got the flu, so... Yea, let's jump in. We are once again taking a look at the 4h BTCUSD Chart.
As I told you yesterday, it would be very hard to break out and go into a reversal. Lucky, lucky me, I was right - In the previous chart I also told you about a potential HS Pattern coming up, and that is exactly what we are facing at this very moment.
Everything is pointing in the direction, that we still will go lower, and probably have another bounce at around 7,500ish. Thereafter we will go to 7,2xx USD (which is equal to 78,6 fib retrace).
And THAT will be exciting - we here will have a real chance to go into a real reversal, and back in an uptrend....
I'll keep you updated!
D4 loves you <3
Sorry for the short update, guys. I will soon come back even stronger - please give a LIKE - Thank you, my friends :)
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7,900 USD Now. So pretty much as expected, Bitcoin is falling lower due to the HS pattern. I also want you to pay attention to the volume bars. 6 red bars - and all bearish. And the last one is now increasing and will probably hit at least the MA20 Volume.
7,850 while I'm writing. I will follow up on this later!
Peace my friends <3
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7,750 USD! It doesn't seem to stop so far. After the fall from the HS pattern, we are now in a bear flag formation, which predict we will go even lower.
We have at this very moment found support on previous support and resistance level (yellow circle).
If you take a look the volume bars, we had only ONE green volume bar but no follow up. It basically tells us, that we don't have many bulls out there at the moment.
Also pay attention to the the RSI. It could very well take a dive into the oversold zone.
I will follow up on this later - thank you my friends - remember to give a LIKE <3
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7,560 USD now! Bitcoin is in free fall. As expected the bear flag has completed. Please pay attention to the last 3 volume bars. All bearish. Expect the last one to be higher. We still still have 1 hour and 20 min. left to finish the bar. All above MA20 volume.
We will probably start to see some support and a bounce around 7,400 and 7,500 - but 7,200 USD is still our target for now.
<3
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Here is a scenario that could shoot us in 8k. This is very hypothetical. Just to show you, how patterns can play out.
I'm still sick, and also Im in an airport right now flying back to our other office, so bare with me, if I don't update so much today :)
<3
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6 days ago I told you we would hit 7,200 USD before we would get our first chance to go into a reversal. And we hit 7,24x. So the few people out there who are claiming I was wrong are technically correct :)
The big question is now, will we go back into a reversal now, or will we go even lower?
I will follow up on this in my next chart! Remember to give a BIG LIKE - Thx in advance :)
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The Update is here: BITCOIN Will Soon Hit 11,000 USD OR 6,000 USD - Here is WHY!
I love strategy "or go up or go down!" :) :) your analyzes are always "ambiguous"
FelixN
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@Sallypole, did you think this is where wizards come together and share visions from their crystal balls? Technical analysis, at best, is a tool that gives you an idea when "breakouts" will happen, so you can trade once those triggers hit. Don't look at TA if you're looking at the long term for Bitcoin, this info is for traders who know what they are doing in the short to medium term. You are better off watching Netflix until we break back into an uptrend. The only ambiguous thing here is your understanding financial markets...
MichaelShutterbug
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Hey D4, Thanks for all the work you do. What I see: Falling down to 7200usd, there bounce because in linear scale there is a long term uptrend since automn 2017. I can also draw a falling wedge which has been built since 16th of February. Wedge and Uptrend crossing at around 20th of March at the 7200 level. And because it was not a real sell off, not much power, not as fast as in the past crashes, I expect there a long term trend reversal. RSI in 4h chart shows bullish divergence. Another reason for a long term trend reversal: When we bounce back from 7200 the down trend in linear scale since December, which is also important in your analysis, is only around 8-10% above the 7200 bottom. I'm not a trader, more an investor. I do swing trades middle and long term and I'm looking for buying back in. Only 40% invested at the moment. And there are many top Altcoins which lost significant value. That means 6-8x only to reach the old ATH. And potential to 30-50x until end of year, IF we go back in a mania phase. I still expect such a mania if we can hold the 7200 and if BTC can leave the downtrend behind and can build sold higher lows and a clear uptrend channel. How do you see the near future for the whole crypto market? Back to uptrend or bearish sideways for several months? Would appreciate your feedback. Thank you and cheers.
zr0s
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@MichaelShutterbug, ...yup. And we’ll all remember this. Crypto changes on a dime, ...a move that takes months on the NYSE takes days or a week on a 24 hr crypto market. Give me a break
EIP-EverythingIsPlanned
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how convenient; how easily you switched to 7200 crash to 8k+ .... your analyses are nothing but just random thoughts which get changed every few hours
Xenn77
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@yshashmi37, That's how the crypto was played out now day, isn't it?
D4rkEnergY
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@yshashmi37, Haha. Seriously every time you write, you make me laugh :) Ty, my friend <3
LisaNEdwards
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@yshashmi37, In this current market, it's best to be a reactive trader not a predictive one. As the Elliott wave forms patterns and fractals, @D4rkEnergY updates his followers with potential patterns he sees. I for one appreciate a different view.
szmyra
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@yshashmi37, When You know that market is trying to mature from early adoption stage? It's when people with absolutely no skill, attracted by huge possibility of income, come and search for analysts that will tell them exactly what to do. Since TA is not exact science, every analyst will make mistakes. This "wanna be big time investor" herd reacts everytime exactly the same way. They praise when analyst is right, but when he/she shows signs of being unsure, they bash and write BS like "I trusted You, now I lost my money".
So, child, let me educate You - analyst that shows other probable scenarios is exactly something You should look for. When You see someone who's claiming he/she _know_ how the price action will play out, RUN.
But first of all, learn basics Yourself. There is tons of free, really easy tutorials both for Elliot Waves and chart pattern recognition. You won't be expert, because it comes with experience, but even in days, You will understand what analysts try to convey.
Practice charting Yourself. Try to predict something and after some time, check how it played out. If the price went in other direction than You predicted, great! Try to understand why and ... try again, over and over.
Important takeaway - You truly want analysts You follow to be, as You call it, somewhat ambiguous. If analyst doesn't show You alternate scenarios that he thinks are less probable, but still could happen, that's bad.
So, learn basics Yourself and instead of bitching around, understand TA is art of dicerning most probable out of possible - it's NOT about certainty.