-Pattern Based Technical Analysis-
As of the past, I have noted that the BTC market is fairly bearish during the Asian Time 7:00 AM to 12:00 AM IST). But is very bullish during the North American Time (12:00 PM to 4:00 PM EST). With regards to the past, I expect the market to be slightly more bearish during Asian Time and Much more bullish in the North American Time. My prediction is that the market may dip till the marked support, then during North American Time, it will be very bullish until the marked resistance. There also may be a chance that the North American Time may be kind of bearish due to news but overall I expect it to got till the marked support with a small chance of BTC breaking the resistance.
I also see a Ascending triangle being formed, so just in case the pattern result is bullish I have noted a resistance till which it will got till, but as of my opinion the Stoch and RSI say that the market had been fairly oversold and was balancing in the middle. Whereas the Moving Average says that the market is slightly pulling back and is bullish . I believe that the market won't be bullish as the price that BTC is staying at was forced and is really unhealthy. Since the whales are trying to get a good entry prices and exit prices, always be prepared for a flash crash or a flash pump. My opinion on the whole market? Bearish. When will I be bullish? Until BTC stabilizes at 44k-46k for 4-7 days.
As of the past, I have noted that the BTC market is fairly bearish during the Asian Time 7:00 AM to 12:00 AM IST). But is very bullish during the North American Time (12:00 PM to 4:00 PM EST). With regards to the past, I expect the market to be slightly more bearish during Asian Time and Much more bullish in the North American Time. My prediction is that the market may dip till the marked support, then during North American Time, it will be very bullish until the marked resistance. There also may be a chance that the North American Time may be kind of bearish due to news but overall I expect it to got till the marked support with a small chance of BTC breaking the resistance.
I also see a Ascending triangle being formed, so just in case the pattern result is bullish I have noted a resistance till which it will got till, but as of my opinion the Stoch and RSI say that the market had been fairly oversold and was balancing in the middle. Whereas the Moving Average says that the market is slightly pulling back and is bullish . I believe that the market won't be bullish as the price that BTC is staying at was forced and is really unhealthy. Since the whales are trying to get a good entry prices and exit prices, always be prepared for a flash crash or a flash pump. My opinion on the whole market? Bearish. When will I be bullish? Until BTC stabilizes at 44k-46k for 4-7 days.
Comment:
My prediction that BTC was going to flash crash then immediately pump was correct. Now most oscillators such as the Stochastic, RSI, and the Stoch RSI, say that this is a very good point to buy in on. The moving average of 200 and 50 say that this is a excellent point to buy. I may be going long on a couple of alt coins if BTC breaks the 45k resistance. I've already gotten some profits out of altcoins based off of the last TA I did. I don't really expect BTC to pump more right now, but I now have some confidence in the Ascending Triangle due to the amount volatility.