BITCOIN ($BTC): When does the new Bulls rally begins?
Based on simply EMA trend lines strategy.
If you like my idea, pls. hit that "like" buttom or leave a comment. Thanks!
If you like my idea, pls. hit that "like" buttom or leave a comment. Thanks!
Comment:
Hello,
First of all, as you can see, we are so far following my prediction from 31.10. when BTC comes to the Bullish Divergence. My 1st target $6450 done!
Fist of All, Let’s take a look at 1H chart:
Bitcoins remains in Ascending Channel meanwhile Bitcoin is performing Triangle pattern, with the prospect of uptrend continuation. But, pay attention to Triangle Patterns are obviously difficult to predict - both sides breakout possible. If we take a closer look on what’s is going on with Bitcoin inside triangle - BTC came in ABCDE-Corrective pattern. We are at this moment on the D-Wave.
Breakout of Triangle pattern can be expected in next 24 hours, probably sooner. Possible breakout targets mentioned in TA.
I’m looking at technical indicators - let’s start with 4H chart. Stoch-RSI and RSI-Stoch indicators are in upper level, which should be indication of overbought market and sign of possible price drop. MACD havn’t confirmed it yet. RSI is rather neutral, but remains above “50” level. Technically It means that we are still in uptrend. That’s why I expect test of the bottom line of Triangle pattern.
If we look at 1D chart - Stoch-RSI and RSI-Stoch are in bottom level, which should be indication of oversold market and sign of possible uptrend. MACD and RSI havn’t confirmed it yet. In my opinion, we can go higher.
Finally, I want you to pay attention to potential “Tree White Soldiers” pattern. Why? If it occurs during uptrend, it is continuation pattern and strong bullish sign. But pay attention to this pattern if occurs in downtrend or comes after downtrend, then this pattern should be indication of downtrend rather then uptrend.
Conclusion, I’m rather bullish than bearish. I guess, we can go $6500 zone and maybe higher. For confirmation, I recommend you to wait for Triangle pattern. For those who are holding BTC, just like me, update your stop loss regard to your money management.
Personally, I bought at $6283, my stop loss is $6385.
Good Luck! Enjoy your weekend.
First of all, as you can see, we are so far following my prediction from 31.10. when BTC comes to the Bullish Divergence. My 1st target $6450 done!
Fist of All, Let’s take a look at 1H chart:
Bitcoins remains in Ascending Channel meanwhile Bitcoin is performing Triangle pattern, with the prospect of uptrend continuation. But, pay attention to Triangle Patterns are obviously difficult to predict - both sides breakout possible. If we take a closer look on what’s is going on with Bitcoin inside triangle - BTC came in ABCDE-Corrective pattern. We are at this moment on the D-Wave.
Breakout of Triangle pattern can be expected in next 24 hours, probably sooner. Possible breakout targets mentioned in TA.
I’m looking at technical indicators - let’s start with 4H chart. Stoch-RSI and RSI-Stoch indicators are in upper level, which should be indication of overbought market and sign of possible price drop. MACD havn’t confirmed it yet. RSI is rather neutral, but remains above “50” level. Technically It means that we are still in uptrend. That’s why I expect test of the bottom line of Triangle pattern.
Finally, I want you to pay attention to potential “Tree White Soldiers” pattern. Why? If it occurs during uptrend, it is continuation pattern and strong bullish sign. But pay attention to this pattern if occurs in downtrend or comes after downtrend, then this pattern should be indication of downtrend rather then uptrend.
Conclusion, I’m rather bullish than bearish. I guess, we can go $6500 zone and maybe higher. For confirmation, I recommend you to wait for Triangle pattern. For those who are holding BTC, just like me, update your stop loss regard to your money management.
Personally, I bought at $6283, my stop loss is $6385.
Good Luck! Enjoy your weekend.
Comment:
1D Chart:
MA10/20 Death Cross still valid. The price is ranging between both of MAs. MA10 plays support at $6430. MA20 and MA50 play resistances between $6530 - $6510. MA100 is very important too, It has been playing significant resistance last 3 months. Currently, MA100 is at $6650 and is decreasing.
RSI-Stoch remains below “30” level and it means, that new uptrend hasn’t started yet. RSI is bouncing important resistance at “50” level, from below.
Look at Ichimoku and VPVR indicators. Let’s start with Ichimoku. Pay attention to Conversion Line (the green line) and its sharp decline shape. The line went closer to BTC. Now, we have to wait when the price gets above this line. Let’s say BTC gets above $6560. Regarding to Ichiomku Cloud, resistances are $6560 and $7000.
Let’s continue with VPVR … BTC is moving inside strong Supply/Demand zone between $6320 - $6500, the HVN lies at $6420.
4H Chart:
MA10/20 performed Golden Cross. Meanwhile both of them cross MA50 from below. So, potential of MA20/50 Golden Cross. So, keep an eye of these MAs for now. Also pay attention to MA100 at $6485. As we all may have seen, BTC had a few unsuccessful breakouts. Next trend resistance lies at 6523 as MA200.
Stoch-RSI and RSI-Stoch are moving in upper levels. which should be indication of overbought market and sign of bulls loosing momentum. I want you to pay attention to Bearish Divergence (the price makes HH but RSI-Stoch makes LH.
Ichimoku indicator … the price is inside the Cloud, it is weak sign of possible uptrend. Meanwhile Base & Conversion Lines area crossing and forming Bullish TK-Cross at around $6420. I gues, we will test it again soon. The bottom line of Ichi Cloud lies at $6380 and upper line lies at $7000.
If we look at VPVR, we can see a Gap between current price and $6355, where HVN lies. VPVR restistance lies at around $6650.
Conclusion - pay attention to MA50 and EMA100 on 1D and 4H charts. In case of successful breakout we could go at least $6800 - $7000 profit area. I gues we will go lower before we go up. I expect drop to $6420 - $6390 first.
MA10/20 Death Cross still valid. The price is ranging between both of MAs. MA10 plays support at $6430. MA20 and MA50 play resistances between $6530 - $6510. MA100 is very important too, It has been playing significant resistance last 3 months. Currently, MA100 is at $6650 and is decreasing.
Let’s continue with VPVR … BTC is moving inside strong Supply/Demand zone between $6320 - $6500, the HVN lies at $6420.
4H Chart:
MA10/20 performed Golden Cross. Meanwhile both of them cross MA50 from below. So, potential of MA20/50 Golden Cross. So, keep an eye of these MAs for now. Also pay attention to MA100 at $6485. As we all may have seen, BTC had a few unsuccessful breakouts. Next trend resistance lies at 6523 as MA200.
If we look at VPVR, we can see a Gap between current price and $6355, where HVN lies. VPVR restistance lies at around $6650.
Conclusion - pay attention to MA50 and EMA100 on 1D and 4H charts. In case of successful breakout we could go at least $6800 - $7000 profit area. I gues we will go lower before we go up. I expect drop to $6420 - $6390 first.
Comment:
Hi Fellows,
After drop to $6435 mark, BTC has been rising for last hours and we saw $6500 mark again. As I wrotte today morning, I’v been watching these levels $6491 as resistance and $6419 as support. Currently, $6491 seems to be solid resistance. As we all may have seen today, BTC tried to breakthrough this level several times, but not successfuly.
Let’s take a look at current situation and what could we expect in coming days. We take a look at the 1D chart.
MA indicators - no big change, MA10/20 Deatch Cross still valid. But the price bouncing MA20 from below now. The breakthrough of MA20 will encourage further growth.
MA50 ($6535) and MA100 ($6600)
My favourite SMMA and TEMA are performing bullish cross. TEMA is crossing SMMA from below. But I will wait for confirmation of this signal.
Indicators - Stoch-RSI remains dangerously high, but on the other hand RSI-Stoch remains in bottom levels. RSI bouncing “50 level” from below and MACD shows to us bullish cross.
Conclusion:
From the bull side, keep your attention to 1D MA50 and 1D MA100 trend lines. If successful breakthrough happens, I will go long with no doubt.
From the bear view, keep your attention to areas at around $6425 and at around $6380. In case of drop down, these are areas of potential trend reversal. The most significant support lies at $6350 where we can see short-term uptrend support. If this support fails, the current short-term uptrend will be interrupted.
After drop to $6435 mark, BTC has been rising for last hours and we saw $6500 mark again. As I wrotte today morning, I’v been watching these levels $6491 as resistance and $6419 as support. Currently, $6491 seems to be solid resistance. As we all may have seen today, BTC tried to breakthrough this level several times, but not successfuly.
Let’s take a look at current situation and what could we expect in coming days. We take a look at the 1D chart.
MA indicators - no big change, MA10/20 Deatch Cross still valid. But the price bouncing MA20 from below now. The breakthrough of MA20 will encourage further growth.
MA50 ($6535) and MA100 ($6600)
My favourite SMMA and TEMA are performing bullish cross. TEMA is crossing SMMA from below. But I will wait for confirmation of this signal.
Indicators - Stoch-RSI remains dangerously high, but on the other hand RSI-Stoch remains in bottom levels. RSI bouncing “50 level” from below and MACD shows to us bullish cross.
Conclusion:
From the bull side, keep your attention to 1D MA50 and 1D MA100 trend lines. If successful breakthrough happens, I will go long with no doubt.
From the bear view, keep your attention to areas at around $6425 and at around $6380. In case of drop down, these are areas of potential trend reversal. The most significant support lies at $6350 where we can see short-term uptrend support. If this support fails, the current short-term uptrend will be interrupted.
Comment:
Hello,
Looking at 1D chart … MA50 was finally broken and BTC dropped to $6460 where MA10 lies. After price rejection, bulls pushed the price back above $6500, back above MA10 and MA20.
For next growth the MA100 must be broken and BTC must daily close above this mark.
On the other hand, next downtrend can be expected if BTC daily close below MA10.
Stoch-RSI remains at the top level and lines are crosing. Basically, it means that the bears are coming back to the rudders.
I’m still bullish and my targets remain valid. I hope that BTC can manage it till end of the week.
This bullish scenario become invalid when BTC drop below MA20.
Looking at 1D chart … MA50 was finally broken and BTC dropped to $6460 where MA10 lies. After price rejection, bulls pushed the price back above $6500, back above MA10 and MA20.
For next growth the MA100 must be broken and BTC must daily close above this mark.
On the other hand, next downtrend can be expected if BTC daily close below MA10.
Stoch-RSI remains at the top level and lines are crosing. Basically, it means that the bears are coming back to the rudders.
I’m still bullish and my targets remain valid. I hope that BTC can manage it till end of the week.
This bullish scenario become invalid when BTC drop below MA20.
Comment:
All of TF are bearish. I gues, we are going to test the bottom line of Triangle pattern at around $6380.
Comment:
Hi Guys,
As we all may have seen, BTC had a very nice breaking-down candle and BTC re-tested the bottom line of the Triangle Pattern.
What we can expect now? If you didn’t bought in drop, don’t buy now. BTC is below all of important MA, on all TF. It means, we are remains in downtrend for now. Depends on MA, I still have been waiting for MA8 breakout, on 4H chart.
But, on 4H TF, potential Bullish Divergence is developed.
Conclusion:
I don’t buy BTC until the price gets above MA8 on 4H.
As we all may have seen, BTC had a very nice breaking-down candle and BTC re-tested the bottom line of the Triangle Pattern.
What we can expect now? If you didn’t bought in drop, don’t buy now. BTC is below all of important MA, on all TF. It means, we are remains in downtrend for now. Depends on MA, I still have been waiting for MA8 breakout, on 4H chart.
But, on 4H TF, potential Bullish Divergence is developed.
Conclusion:
I don’t buy BTC until the price gets above MA8 on 4H.
Comment:
BTC update is here … the price of BTC has been increasing last hours and BTC is currently ranging in strong resistance zone between $6450 - $6465.
4H Chart: BTC looks good and suggest that new uptrend could come soon, MA8/21/100 are below the current BTC’s price and now act as support. MA55/200/500 remains above the current price as reistances and potential profit targets.
1D Chart: BTC still remains to be more Bearish. All of MAs are above the price and act as resitances. So, for long-term bull run, these MAs must be broken.
Conclusion:
BTC is on the way to hit $6700 mark, maybe to $7000. But the risk of price drop down still exists. For safe entry wait when the price daily close above $6600. If you want to take some risk and buy now, set up your stop loss $6345.
4H Chart: BTC looks good and suggest that new uptrend could come soon, MA8/21/100 are below the current BTC’s price and now act as support. MA55/200/500 remains above the current price as reistances and potential profit targets.
1D Chart: BTC still remains to be more Bearish. All of MAs are above the price and act as resitances. So, for long-term bull run, these MAs must be broken.
Conclusion:
BTC is on the way to hit $6700 mark, maybe to $7000. But the risk of price drop down still exists. For safe entry wait when the price daily close above $6600. If you want to take some risk and buy now, set up your stop loss $6345.
Comment:
Comment:
Still waiting for weekly close BTC still consolidating and meanwhile moving inside ascending channel.
1D chart … RSI and Stoch remains in bottom levels. MA performing Death Cross.
4H chart … Stoch-RSI is very high. The price is bouncing MA21 and MA8.
Conclusion … successful $5685 breakout could be solid signal to go long in short-term!
1D chart … RSI and Stoch remains in bottom levels. MA performing Death Cross.
4H chart … Stoch-RSI is very high. The price is bouncing MA21 and MA8.
Conclusion … successful $5685 breakout could be solid signal to go long in short-term!
Comment:
EMA100 support failed. BTC is testing the next support EMA200 at around $4200. This TA will be invalidated if EMA200 support fails. Then we go probably below $4000.
Comment:
Comment:
BTC brief update is here.
First, we look at EMA trendlines on 4H chart. The price of BTC got above EMA50! EMA50 has been playing strong trend resistance last few weeks.
Second, we look at technical indicators on 4H chart. I would like to pay attention to RSI-Stoch and RSI indicators. Both of them are bullish and there is a lot of space for next growth.
Conclusion - I’m bullish short-term, because BTC is above EMA50 and Fib Retr. Indicators mentioned above are also good. But if we daily close back below EMA50 I will pay more attention to BTC. Resistances are $6419 / $6463 / $6511. Support is $6352-$6300 and very significant support zone lies between $6250 - $6150.